AutoNation, Inc. (NYSE: AN) has reported fourth quarter 2020 financial results. Net income from continued operations amounted to USD 152 Million or USD 1.73 per share. GAAP results were reduced due to non-cash accounting loss related to the company’s equity investment in Vroom of USD 62 Million. Same store revenue reached USD 5.8 Billion, a 5% compared to the same period a year ago as gross profit summed up to USD 984 Million.
AutoNation USA plans to build over 100 pre-owned vehicle stores within the U.S. with over 50 completed by the end of 2025. This will include, extending AutoNation’s coast to coast footprint into new markets.
The company has repurchased a total of 4.7 million shares of common stock for a purchase price of USD 302 Million in the fourth quarter.
AutoNation has continued to invest in digital capabilities to enhance its peerless customer experience. Its AutoNation Express integrated retailing solution has gone through significant upgraded to provide customers with a seamless and intuitive omnichannel vehicle shopping and purchase experience.
As of December 31st, 2020, the company had USD 2.3 Billion of liquidity which includes USD 570 Million cash and USD 1.8 Billion of availability under its credit facility.