AutoNation

AutoNation, Inc.

File:AutoNation Corporate Headquarters 2018 Photo.jpg Corporate offices in Fort Lauderdale, Florida
Company type	Public
Traded as	NYSE: AN S&P 400 component
Industry	Car dealership
Founded	1996 (1996)
Founder	H. Wayne Huizenga
Headquarters	Fort Lauderdale, Florida, U.S. , United States
Key people	Mike Manley (CEO) Jeffrey Butler (President)
Revenue	Decrease Template:US$ (2024)
Operating income	Decrease Template:US$ (2024)
Net income	Decrease Template:US$ (2024)
Total assets	Increase Template:US$ (2024)
Total equity	Increase Template:US$ (2024)
Number of employees	25,100 (2024)
Website	autonation.com

AutoNation, Inc. stands as a prominent American automotive retailer based in Fort Lauderdale, Florida. Established in 1996 by business pioneer Wayne Huizenga, the firm manages more than 300 dealerships nationwide, providing both new and certified pre-owned vehicles alongside ancillary services.

The company's growth strategy included acquiring several car rental businesses such as National Car Rental, Spirit Rent-A-Car, Value Rent-A-Car, and Snappy Car Rental. By 2011, AutoNation had reached a milestone by becoming the first U.S. automotive retailer to surpass sales of 8 million vehicles, highlighting its significant position and expansion within the sector.

1996–2008

Prior to its acquisition by Republic Industries in 1997, the initial "AutoNation" brand was developing as a network of used car superstores. In 1995, H. Wayne Huizenga, then chairman of Republic Industries, sought to broaden the company's reach into national used vehicle sales through AutoNation. That year, Republic reported sales totaling $5.2 billion.

The year 1996 marked Republic’s entry into new automobile dealership ownership with twelve retail outlets operating under the AutoNation banner. Additionally, Republic acquired Alamo Rent A Car for $625 million and executed a two-for-one stock split. The following year, Republic expanded its rental car portfolio by purchasing National Car Rental, Spirit Rent-A-Car, Value Rent-A-Car, Snappy Car Rental, and EuroDollar Rent A Car. These acquisitions were integrated under unified management along with new and used vehicle operations. Due to underperformance, six Saturn dealerships were acquired but subsequently divested.

Also in 1997, Republic purchased Maroone Automotive Group for $200 million in stock. An attempted takeover of ADT Security Services did not succeed that same year, resulting in the disposal of its electronic security division.

In July 1998, Republic Industries launched an initial public offering for its waste management division under the name Republic Services, raising $1.4 billion intended to finance AutoNation’s expansion efforts. Subsequently, the company rebranded itself as AutoNation to emphasize its automotive industry focus.

A trademark infringement lawsuit filed by CarMax in 1998 initially awarded $50 million in damages; however, this decision was reversed on appeal. In April of that year, AutoNation purchased competitor Drivers' Mart for $40 million. By 1999, all remaining shares of Republic Services were sold off.

Steve Berrard resigned from his role as AutoNation CEO in July 1999. Mike Jackson—formerly associated with Mercedes-Benz USA—assumed the CEO position and was later appointed chairman in 2003. Under his leadership, the company spun off its car rental arm as ANC Rental and shuttered unprofitable used car megastores while shifting from a unified national brand approach to regional branding strategies.

In October 2005, Hurricane Wilma caused damage to AutoNation’s Fort Lauderdale headquarters; operations were temporarily relocated to a nearby facility.

In 2006, CEO Mike Jackson announced plans to strategically reduce vehicle orders from domestic manufacturers General Motors, Ford, and Chrysler while increasing imports from BMW, Mercedes-Benz, and Lexus to counter anticipated declines in market share by U.S.-based automakers.

2009–present

During the economic downturn of 2009, AutoNation introduced the AutoNation Payment Protection initiative, which assured customers a buyback at market value if they experienced job loss. By 2011, the company became the first automotive retailer in the United States to reach sales of 8 million vehicles.

In January 2013, AutoNation unified its 210 dealerships nationwide under its own brand name, receiving endorsement from leading automakers such as GM, Ford, Chrysler, Nissan, Toyota, Honda, Volkswagen, and Hyundai. That May, the company formed a partnership with IndyCar champion Ryan Hunter-Reay to support its cancer-related charitable efforts. By August 2013, AutoNation celebrated a milestone by selling its 9 millionth vehicle.

In April 2017, CEO Mike Jackson publicly expressed skepticism about Tesla’s market valuation, describing it as potentially either a "Ponzi scheme" or a genuine success. At that time, Tesla had just overtaken General Motors in terms of market capitalization. By mid-2017, AutoNation had reached total vehicle sales of 11 million. Later in the year, the company was chosen by Waymo to provide maintenance and repair services for its autonomous vehicle fleet.

Throughout the COVID-19 pandemic, AutoNation attracted attention for applying for $266 million through the SBA Paycheck Protection Program to rehire furloughed staff across its more than 300 U.S. dealerships. The company received up to $95 million but promptly returned $77 million to JPMorgan Chase shortly thereafter.

Cheryl Miller stepped down as CEO in July 2020 and was succeeded by Mike Jackson until April 2022. Subsequently, in November 2021, Mike Manley—previously CEO of Fiat Chrysler and head of Stellantis Americas—was named CEO.

In April 2021, AutoNation acquired naming rights for Inter Miami CF’s stadium, renaming it DRV PNK Stadium as part of its breast cancer awareness campaign.

By 2022, total vehicle sales since the company’s inception exceeded 14 million units. In January 2023, AutoNation expanded its service offerings by acquiring RepairSmith—a mobile automotive repair and maintenance provider—for $190 million, thereby enhancing its aftersales business model and product portfolio.

Revenue by product category

Revenue Distribution by Product Category for 2001

59.5%	Sales of new vehicles
19.4%	Sales of used vehicles
12.2%	Parts and service revenue
2.4%	Financing and insurance income
6.5%	Other sources