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

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!