AutoNation Is in the Right Place at the Right Time

Howard Smith, The Motley Fool
·2-min read
AutoNation Is in the Right Place at the Right Time
AutoNation Is in the Right Place at the Right Time

CEO Mike Jackson told CNBC that it was the company's "absolute best quarter ever," as the coronavirus pandemic has led Americans to want to have their own personal vehicles and avoid shared transportation. With the strength in demand for personal vehicles, restarted production has been unable to build inventories back to pre-pandemic levels. AutoNation said in its earnings report that gross profit on new vehicles jumped 56% versus the prior-year period, and rose 43% on used vehicles.