Yesterday, AutoNation, Inc. (NYSE: AN) released the results of its most profitable quarter in its history. Revenues came out to $6.6 billion, an increase of 14% year-over-year. Adjusted earnings per share (EPS) came in at $5.76, a staggering increase of 137% from Q4 2021. Although new vehicle revenue declined, used vehicle revenue soared with an increase of 55% to more than make up for it. Gross profits for both new and used vehicles were up substantially as well.
On this special edition of Inside Automotive, anchor Jim Fitzpatrick sits down with the new CEO of AutoNation, Mike Manley, who took the helm from industry veteran Mike Jackson last November. Manley is no stranger to the automotive retail industry. He previously served as the CEO of FCA, and the Leader of North American Operations for Stellantis after the FCA-PSA merger was finalized. Today, The pair discuss AutoNation’s fourth-quarter results in more detail. Manley also shares his agenda items for 2022 and his perspective on current market conditions.
| Related: Mike Jackson talks about AutoNation’s record-breaking Q3 and how AN sources used cars |
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