AutoNation Investor Relations Material

AutoNation is an American automotive retailer operating hundreds of outlets across the United States. These retail locations sell new as well as pre-owned vehicles and related services to customers all over the country. The company is headquartered in Fort Lauderdale, Florida and its shares are traded on the NYSE. The company also operates various rent-a-car solutions for customers, even if primary operations are centered around the sale of cars.

AutoNation, founded in 1996, stands as a significant entity in the U.S. automotive retail landscape. H. Wayne Huizenga, known for his ventures in Waste Management and various Florida sports franchises, was the driving force behind AutoNation's inception. Seeing an opportunity to consolidate the fragmented car dealership market in the US, Huizenga spearheaded a strategy of acquiring and unifying various dealerships under one umbrella brand. Over the years, this approach allowed AutoNation to grow exponentially, positioning it as one of the largest automotive retailers in America. The company introduced certain practices, such as transparent pricing, which aimed to simplify the car-buying process for consumers.

With a vast network of dealerships spread across the country, they represent a multitude of car brands, encompassing domestic, imported, and luxury vehicles. Their approach to new car sales emphasizes transparency, often deploying a "no-haggle" pricing strategy. This seeks to offer customers a clear and direct price, potentially streamlining the purchasing process by reducing lengthy negotiations. AutoNation operates in a highly competitive industry, with a list of peers including names such as Sonic Automotive, Penske, Group 1 Automotive, and several others.

AutoNation is not only active in the new car segment but also has a significant footprint in the pre-owned and used car market. Their retail locations across the U.S. offer a substantial inventory of pre-owned vehicles, spanning a diverse range of brands, models, and price points. One of AutoNation's distinguishing features in the used car sector is its certification process. Many of their used vehicles available for purchase undergo rigorous inspections and, if necessary, repairs, to meet specific company standards. This process is conducted to ensure buyers receive a car that is reliable and roadworthy straight away. Furthermore, to enhance transparency, AutoNation often provides vehicle history reports, allowing prospective buyers to understand the car's past in terms of ownership, accidents, and maintenance.