More on AutoNation's Q3 results

|About: AutoNation Inc (AN)|By:, SA News Editor

AutoNation (AN -5.2%) reports same-store sales fell 1.2% in Q3.

New vehicle revenue increased 2.64% to $3.2B for the quarter.

Used vehicle revenue expanded 5.92% to $1.28B, led by 45.6% increase in wholesale revenue.

Segment revenue: Domestic: $2.04B (+9.4%); Import: $1.78B (-3.2%); Premium luxury: $1.68B (-4.6%).

Gross margin rate down 50 bps to 15%.

Segment income: Domestic: $83.9M (-11.3%); Import: $79.3M (-7.3%); Premium Luxury: $80.9M (-5.3%).

Operating margin rate slipped 50 bps to 3.9%.

Retail new vehicle unit sales fell 1.4% Y/Y to 88,322.

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