Nation’s #1 Auto Dealer Profits in Q1

Apr 24, 2009

Low interest rates, easing of credit helps

You are never going to get a better price on a vehicle than you are right now, AutoNation CEO Mike Jackson told CNNMoney.com.

And people are buying it.

CNNMoney.com
reports that “AutoNation, the country’s largest car dealer chain, posted a profit for the first quarter of 2009 despite a 43% decline in new vehicle sales, and said it expects to see improved sales in the second half of the year.”

This coming off 2008, a year when a staggering 900 auto dealerships went out of business. To put it in perspective, a typical “good” year might see 75 to 90 dealers fold up.

The article also stated that AutoNation cut its debt by about $500 million during the quarter and $1.25 billion since Q1 last year.

AutoNation has 239 dealerships across the country under various names. It sounds like now’s a great time to stop by one of them and take Mr. Jackson up on that offer.