AutoNation Q1 revenue falls on lower new car sales
Updated
Updated · MarketWatch · May 1
AutoNation Q1 revenue falls on lower new car sales
15 articles · Updated · MarketWatch · May 1
First-quarter profit rose to $205.4 million, or $5.85 a share, from $175.5 million, while adjusted earnings of $4.69 beat FactSet analysts' $4.51 estimate.
Revenue missed analysts' $6.65 billion forecast, with new vehicle revenue down 7.3% in the quarter ended 31 March.
Used car sales provided some support, rising 2.2%, but not enough to offset weaker demand in AutoNation's new vehicle business.
How are car dealerships increasing profits while selling fewer new cars?
With new car affordability at a low, what is the new path to car ownership?