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WSJ: Autonation CEO Says GM To Get Sales Boost From Americredit

By Neal E. Boudette Of THE WALL STREET JOURNAL The chief executive of AutoNation Inc. (AN) said on Thursday he expects General Motors Co. (GM) to get a lift in U.S. vehicle sales as a result of the auto maker's acquisition of lending company AmeriCredit. "It will absolutely boost their [new-vehicle] sales," CEO Michael J. Jackson said in an interview. AutoNation is the country's largest chain of auto dealerships and operates 51 stores selling GM vehicles. "It gives me a lot of confidence around GM." The AmeriCredit deal, he added, "is going to make at least a 10% to 15% difference in [GM sales] volume. GM is losing customers even today because of lack of credit among sub-prime customers." (This story and related background material will be available on The Wall Street Journal Web site, WSJ.com.) Earlier on Thursday, AutoNation reported net income up 29% to $47.2 million, while earnings-per-share jumped 38% to 21 cents a share. The Ft. Lauderdale, Fla., company purchased 20.9 million of its own shares during the second quarter, and allocated $250 million for additional share purchases.

Stock News for Autonation (AN)
DateTimeHeadline
11/29/201608:30:00AutoNation Cure Bowl Tailgate Party and Concert
11/02/201617:14:21Statement of Changes in Beneficial Ownership (4)
11/02/201617:09:53Initial Statement of Beneficial Ownership (3)
11/01/201616:30:19Amended Statement of Beneficial Ownership (sc 13d/a)
10/28/201616:30:20Securities Registration: Employee Benefit Plan (s-8)
10/28/201616:21:45Quarterly Report (10-q)
10/28/201608:40:00AutoNation to Expand Operations; Profit Falls
10/28/201608:13:21Current Report Filing (8-k)
10/28/201608:00:00AutoNation Reports Third Quarter 2016 Results
10/28/201607:45:00AutoNation Launches AutoNation USA and Comprehensive Brand Extension...
10/21/201616:42:00AutoNation Announces New Chief Technology Officer
10/20/201607:00:00Gabelli Automotive Symposium Keynote to Focus on Internet of...
10/19/201608:37:00Gabelli & Company’s 40th Annual Automotive Aftermarket Symposium
10/19/201607:30:00AutoNation Dealerships Take 7 Spots in Automotive News' "100...
09/29/201607:00:00AutoNation Announces Third Quarter 2016 Earnings Conference Call...
09/22/201610:43:00Gabelli & Company’s 40th Annual Automotive Aftermarket Symposium
09/12/201608:00:00Gabelli & Company’s 40th Annual Automotive Aftermarket Symposium
07/29/201616:26:24Quarterly Report (10-q)
07/29/201613:20:00AutoNation Hits Record EPS, But Counsels Caution
07/29/201607:37:10Current Report Filing (8-k)

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