AutoNation Sept. new vehicle sales rise 23 pct.
AutoNation's new vehicle sales increase 23 percent in September
AutoNation, the country's largest automotive retailer, says new vehicle sales climbed 23 percent in September, driven by strong sales of imported vehicles.
AutoNation Inc. said Wednesday that it sold 22,982 vehicles last month. Sales of imported vehicles increased 38 percent to 11,854, while sales of premium luxury vehicles rose 11 percent to 4,258. Domestic vehicle sales gained 10 percent to 6,870.
The Fort Lauderdale, Fla. company said that new vehicle sales climbed 22 percent in the third quarter, led by a 35 percent increase in sales of imported vehicles. Sales of domestic vehicles rose 12 percent, while sales of premium luxury vehicles climbed 6 percent.
AutoNation anticipates reporting its October new vehicle sales results on Nov. 2. The company runs 261 new vehicle franchises in 15 states selling 32 brands.
Its shares finished at $44.45 on Tuesday after rising to a 52-week high of $44.69 earlier in the session. Its shares traded as low as $30.46 a year ago.
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