AutoNation sales gell 3 percent in August 2011
By Andrew, 09 Sep, 2011. 0 Comments
AutoNation Logo
For the month of August 2011, sales of AutoNation Inc. fell by 3% as its import stores continued to feel the impact of the quake as its supplies remained limited. The retailer sold 8,996 units in August, standing for a 10% decline in sales of import-brand vehicles. This was offset by a 7% climb in domestic-brand sales to 5,788 vehicles and a 3% rise in premium luxury-brand sales to 3,337 units.
In a statement, CEO Mike Jackson said that AutoNation expects that new-vehicle sales would be the most challenging in the third quarter due to the Japan earthquake. Jackson pointed out that shipments have improved quickly and that AutoNation anticipates that there will be sales gains while entering the fourth quarter.
He said that supply has improved and that marketing activity has started to normalize. He expects year-over-year and sequential improvement to begin this October, with an impressive ending for the year. The new-vehicle sales of AutoNation, the country’s largest retailer, have grown by 6% for the first eight months of 2011. It expects full-year industry vehicle sales to be in the mid-12 million range.
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