AutoNation February sales rise 6 percent
AutoNation posts 6 pct increase in February sales on strong demand for premium luxury vehicles
FORT LAUDERDALE, Fla. (AP) -- AutoNation Inc. said Monday its February new vehicle sales rose 6 percent to 21,168, helped by a double-digit jump in sales of premium luxury vehicles and contributions from new stores.
Sales of premium luxury cars and trucks increased 19 percent to 4,046, while demand for domestic vehicles rose 8 percent to 6,655. Sales of import vehicles were flat at 10,467.
The company said its revenue at stores open at least a year increased 3 percent. The metric is a key measure of a retailer's health, because it excludes revenue at stores that recently opened or closed.
The Fort Lauderdale, Fla.-based company plans to report its March retail new vehicle unit sales on April 3. The company runs 265 new vehicle franchises, which sell 32 brands in 15 states.
AutoNation shares rose $1.03, or 2 percent, to $44.48 in midday trading.
