AutoNation, Inc. (AN) Thriving on Soaring Truck and Luxury Vehicle Sales

AutoNation, Inc. (NYSE:AN) is coming off another impressive month, selling just shy of 33,000 vehicles for the month of August according to statistics released by the company today. Chairman and CEO Mike Jackson visited CNBC this morning to discuss the most recent statistics.

AutoNation, Inc. (NYSE:AN)

“The comp was difficult, August of last year was a fantastic month with a selling rate over 16 million, so to be up 7% on top of that is really quite something. And the big drivers are truck sales, up 9%, and very strong premium luxury business for us, up 12%,” Jackson said.

Sales were solid across the board, with domestic vehicle sales up 8% to over 10,000 units, imports up 5% to nearly 17,000, truck sales up 9% and luxury vehicle sales up 12% to 5,676. The continued success for AutoNation, Inc. (NYSE:AN) isn’t much of a surprise. The company is coming off its 15th consecutive quarter of strong growth, and appears poised to raise the bar to a full four years running. Same store sales for the most recent month also remained strong, up 5% from the previous year.

In the case of trucks, the increasing sales are not only a positive for AutoNation, Inc. (NYSE:AN), but may also be seen as a positive indicator for the economy as a whole. Jackson has previously stated that rising truck sales are a good indication of busy contractors, and reiterated that point today. And aside from the first quarter, the truck sales seem to bear that out, with the economy growing at a 3% rate and job growth strong.

It was revealed a few days ago by the SEC that AutoNation, Inc. (NYSE:AN) insider, COO Michael E. Maroone divested himself of 220,250 shares of stock in the company on August 27. The shares sold at an average price of $53.94. AutoNation, Inc. (NYSE:AN) began the day at $53.77, and is currently up half a percentage point on the day, and over 8% for the year.

Disclosure: none

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!