AutoNation Inc. (Fort Lauderdale, FL) saw its third-quarter parts and service revenue increase 9.6 percent to $653.80 million, while parts and service gross profit rose 10 percent to $27710 million. Same-store parts and service revenue growth came in at 5.7 percent. According to management, the business continued to grow across-the-board for customer pay, warranty, wholesale parts, and collision for both revenue and gross profit.
Interestingly, AutoNation’s parts and service and finance and insurance operations — while comprising roughly 19 percent of the company’s total revenue for the nine months ended Sept. 30, 2013 — contributed approximately 65 percent of the company’s total gross profit for the same period.
America’s largest automotive retailer, AutoNation owns and operating 267 new-vehicle franchises, which sell 33 new vehicle brands across 15 states.
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