AutoNation, Inc.

AutoNation Appoints Ravi Simhambhatla Chief Technology and AI Officer

AutoNation appointed Ravi Simhambhatla as Chief Technology and AI Officer, effective October 1, 2026, to lead its technology, data science, and AI agenda. Simhambhatla brings over 30 years of enterprise technology experience, most recently as Chief Digital and Innovation Officer at Avis Budget Group, with prior roles at Google Cloud, United Airlines, Tesla, and Virgin America. CEO Mike Manley framed the hire as one of several steps to accelerate growth by raising returns on the company's physical scale through AI and technology.

•24d ago

AN: 8-K · debt financing

AutoNation amended and restated its unsecured credit agreement on September 14, 2026, increasing its revolving credit facility commitment from $1.9 billion to $2.0 billion, with JPMorgan Chase Bank, N.A. acting as administrative agent. The Fifth Amended and Restated Credit Agreement doubles the accordion feature to $1.0 billion (from $500.0 million), carries commitment fees and loan margins that are the same or lower than the prior facility, and extends the maturity date to September 14, 2031. Financial covenants are unchanged — a maximum leverage ratio of 3.75x (stepping up to 4.25x for four fiscal quarters after a material acquisition) and a minimum interest coverage ratio of 3.00x — preserving balance-sheet flexibility for a potential large acquisition.

SEC 8-K•1mo ago

AN: 10-Q · periodic report

AutoNation reported net income of $387.5 million for the six months ended June 30, 2026, a significant increase from $261.9 million in the prior year, driven by the absence of previous impairments and growth in the AutoNation Finance segment. Total revenue decreased slightly to $13.48 billion, down 1.3% year-over-year, as new and used vehicle unit volumes declined following a prior-year surge in demand. The company's finance segment generated income of $20.1 million in the first half of 2026, compared to $2.1 million in the same period last year, bolstering overall profitability. Conversely, new vehicle gross profit declined 17.6% for the six months due to lower unit volume and reduced manufacturer incentives, while parts and service revenue grew 4.1%. AutoNation returned significant capital to shareholders, repurchasing approximately $469.7 million of common stock during the six-month period. The company maintained a strong liquidity position with $53.3 million in cash and cash equivalents and substantial availability under its $1.9 billion credit facility.

SEC 10-Q•2mo ago

AutoNation Reports Second Quarter 2026 Results

AutoNation reported Q2 2026 revenue of $6.9 billion, a slight 1% decrease year-over-year, while GAAP EPS surged 138% to $5.39 driven by expense discipline and strong finance income. Operating income increased 47% to $319 million, fueled by record After-Sales gross profit and a 10x increase in AutoNation Finance YTD profit, which supported a 125% adjusted free cash flow conversion rate. Capital deployment remained aggressive with $457 million spent on share repurchases in the first half of the year and the acquisition of four dealerships adding $600 million in annual revenue.

•2mo ago

AutoNation and Porsche Cars North America Celebrate Opening of Porsche Hilton Head

AutoNation opened Porsche Hilton Head, a 34,000-square-foot retail and service center located in Hardeeville, South Carolina. The new facility meets Porsche’s Generation 5 'Destination Porsche' standard and targets the fast-growing Lowcountry market. CEO Mike Manley stated the location reflects the company's commitment to investing in high-growth markets and catering to an experience-driven customer base.

•3mo ago

AutoNation Expands California Footprint with Acquisition of Three Premium Luxury Dealerships

AutoNation acquired three premium luxury dealerships in the San Francisco Bay Area—Audi Fremont, Mercedes-Benz of Fremont, and Porsche Fremont—which contribute approximately $400 million in annual revenue. The transaction expands AutoNation’s California presence to 46 locations and increases its national footprint to 25 Mercedes-Benz, 11 Audi, and 8 Porsche stores. Separately, the company reported it has invested $450 million year-to-date to repurchase more than 2.2 million shares, reducing outstanding shares by over 6%.

•4mo ago

AutoNation, the Largest Toyota Dealer in the U.S. in 2025, Acquires Toyota of Newnan

AutoNation acquired Toyota of Newnan, effective June 8, 2026, renaming it AutoNation Toyota Newnan. The dealership generates approximately $200 million in annual revenue and sells 4,900 new and used vehicles per year. This marks AutoNation's 21st Toyota store nationwide and its third in Georgia, bringing its total Georgia footprint to 19 locations.

•4mo ago

AutoNation Reports First Quarter 2026 Results

AutoNation reported Q1 EPS of $5.85, a 31% increase from the prior year, despite a 2% revenue decline to $6.55 billion as unit sales softened. Profitability expanded in After-Sales and AutoNation Finance, which grew its portfolio to $2.4 billion and completed a $749.2M securitization. The company returned significant capital to shareholders, repurchasing $300 million of stock in the quarter, reducing the share count by 4%.

•5mo ago