AutoNation November sales rise 21 pct
FORT LAUDERDALE, Fla. (AP) — AutoNation's November new vehicle retail sales rose 21 percent to 22,571 as demand for import and luxury models surged.
Sales of premium vehicles rose 27 percent to 10,909, while demand for premium luxury models rose 25 percent to 5,218. Sales of domestic cars and trucks rose 9 percent to 6,444.
The Fort Lauderdale, Fla. automotive retailer said Tuesday that it reached deals to buy Audi, Porsche and three Volkswagen stores in the Dallas market from Boardwalk Auto Group and Spring Chrysler Jeep Dodge Ram of Houston.
Financial terms were not disclosed.
AutoNation expects the stores to sell a combined 14,000 new and used vehicles this year, resulting in about $575 million in revenue. When the deals close, AutoNation will own and operate 50 franchises in Texas.
Shares of AutoNation Inc. rose $1.39, or 4 percent, to $40.02 in premarket trading.