AutoNation

American automotive retailer

Jeffrey Butler (President)
| industry = Car dealership
| revenue =
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AutoNation is an American automotive retailer based in Fort Lauderdale, Florida, which provides new and pre owned vehicles and associated services in the United States. The company was founded by Wayne Huizenga in 1996, starting with twelve AutoNation locations, and now has more than 300 retail outlets. AutoNation continued growing by acquiring other companies in the car rental business such as National Car Rental, Spirit Rent A Car, Value Rent A Car, Snappy Car Rental and more. In 2011, AutoNation was the first auto retailer in the United States to sell a total of 8 million vehicles. and through Republic's ownership of AutoNation, sought to expand its business into used auto sales throughout the United States. Republic's sales for 1995 were $5.2 billion. and a 2 for 1 stock split in Republic stock was also completed. In 1997, Republic continued its acquisitions in the car rental business with the purchase of National Car Rental, CarMax received a $50 million jury award in its lawsuit, but it was overturned on appeal in 1998. The remaining 64% of Republic Services was divested to Republic Industries shareholders in 1999. Mike Jackson, the new CEO, previously of Mercedes Benz USA, moved to spin off the car rental business as "ANC Rental" and close all newly built "AutoNation USA" used car megastores, due to losses of $25 million per quarter. Plans to brand all automotive retail stores as "AutoNation stores" were cancelled. A rebranding of a more recognizable 'regional brand' focus was instituted. The company has since transferred to another nearby building. In 2006, Mike Jackson, CEO of AutoNation announced that his company would be reducing orders from the three major vehicle manufacturers as General Motors, Ford and Chrysler in 2007 and altered the company's purchase pattern to include purchasing more imported vehicles as BMW, Mercedes and Lexus, due to anticipated view of further market share losses by US automakers. resulting in high dealer

In 2009, during the great recession, AutoNation announced a newly formed AutoNation Payment Protection program, promising that the dealership will buy back any car at market value, should the owner lose their job. By 2011, AutoNation was the first auto retailer in the U. S. to sell a total of 8 million vehicles. In January 2013, AutoNation announced that it would replace localized brand names of its car retail operations with its own name. This re branding across the US was supported and approved by the major automotive manufacturers, including GM, Ford, Chrysler, Nissan, Toyota, Honda, VW and Hyundai. It involved a total of 210 franchises operating under previously assigned local group names. In May 2013, AutoNation partnered with Indy Car Series Champion Ryan Hunter Reay to support his "Racing for Cancer" charity. This charity served as a key component of the AutoNation cancer charity program which was founded as a 501(c)(3) charitable organization. In August 2013, AutoNation announced the sale of its 9 millionth vehicle which was a record achievement for the industry. On April 11, 2017, USA Today wrote that AutoNation's CEO Mike Jackson questioned the market value of Tesla, the maker of electric cars, by saying that Tesla is "either one of the great Ponzi schemes of all time or it’s gonna work out." The previous day, Tesla passed General Motors as the most valuable American automotive manufacturer, measured by its market capitalization. Jackson also said, "Clearly General Motors is undervalued and Tesla is overvalued. Anybody can see that." During the coronavirus pandemic, AutoNation faced criticism after reports in The Washington Post revealed that the company applied for at least $266 Million in SBA Paycheck Protection Program loan under the CARES Act in order to allow at least 7,000 employees who had been furloughed to return to work and received up to $95 Million in funds for its over 300 dealerships located throughout the United States. SBA Paycheck Protection Program loans were originated by commercial banks, credit unions, and other financial institutions; according to AutoNation's Form 8 K filed with the Securities and Exchange Commission on March 26, the company's "administrative agent" and lender as of the filing date was JPMorgan Chase Bank, N. A. On April 24, AutoNation announced that it would be returning $77 Million to J. P Morgan. Cheryl Miller resigned her position as CEO for AutoNation in July 2020. She was replaced by Mike Jackson, who was to fill the role until April 2022. In November 2021, Mike Jackson retired from his 20 years service to AutoNation and was replaced by Mike Manley, previously Head of Americas at Stellantis N. V. and former CEO of Fiat Chrysler Automobiles. On April 9, 2021, it was officially announced that AutoNation had reached a naming rights agreement for the stadium of Fort Lauderdale based Inter Miami CF. The team's stadium became branded as DRV PNK Stadium, a tie in with AutoNation's breast cancer awareness campaign. In 2022, AutoNation sold its 14 millionth vehicle in the United States since its founding. In January 2023, AutoNation acquired RepairSmith, a full service mobile solution for automotive repair and maintenance, for $190 million.

+Revenue by Product Category for 2001 59.5% New vehicles 19.4% Used vehicles 12.2% Parts and service 2.4% Financing and insurance 6.5% Other