AutoNation Inc. is ruling out starting its own captive finance company for now.
“It’s most unlikely that we do that,” AutoNation CEO Mike Jackson told Automotive News. “I never say anything’s final. But I would say it’s on the back burner with the gas turned off.”
The decision comes after a period in which AutoNation, the country’s largest new-car retailer, explored whether to set up a captive. Jackson last November acknowledged that the company was looking into creating its own finance arm.