1-26-2012
Good news from one of radio's biggest categories. AutoNation, the nation's largest auto retailer, reported a record 4th quarter. The company reported net income of $69.4 million for Q4 a 3.1% increase. For the full year, AutoNation net income jumped over 24% to $281 million. Gross profit per vehicle rose to $2,451 or 2%.
AutoNation CEO Mike Jackson also predicted sales in 2012 would rise more than 10% over 2011 to 14 million units. One of the reasons for that rosy prediction is that the average car on the road today is approximately 11 years old.
