AutoNation Reports 9.6% Rise In Same-Store Parts & Service Gross Profit

For the third quarter of 2022, AutoNation Inc. saw its parts and service revenue grow 9.4% to $1.03 billion, with same-store sales up 7% to $993.30 million. Same-store parts and service gross profit increased by $40 million (or 9.6%) to $458.70 million, primarily because of increases in gross profit associated with customer-pay service of $15.30 million and the preparation of vehicles for sale of $12.50 million. Gross profit associated with customer-pay service benefited from higher-value repair orders, partially offset by a decrease in repair order volume.

AutoNation is one of the largest automotive retailers in the United States. As of Sept. 30, 2022, it owned and operated 336 new vehicle franchises from 243 stores, predominantly in major metropolitan markets in the Sunbelt region. The company also owned and operated 56 AutoNation-branded collision centers, 12 AutoNation USA used-vehicle stores, four AutoNation-branded automotive auction operations and three parts distribution centers.

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