Broward County

AutoNation reports record profits, plans to buy stores

AutoNation on Wednesday reported record quarterly profits and its biggest purchase in 15 years. The country’s largest auto dealer chain said profits from continuing operations reached an all-time high of $119 million, up 12 percent from last year’s third quarter.

The Fort Lauderdale company also announced plans to buy 12 stores in Texas that have annual revenues of roughly $800 million. The stores in the Allen Samuels Group of Waco sold about 19,500 new and used vehicles on a retail level last year. Those outlets in Houston, Dallas-Fort Worth, Corpus Christi, Tyler, Ennis and Waco now employ about 1,000 people and mainly sell Chrysler-related brands.

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