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.
Digital Access For Only $0.99
For the most comprehensive local coverage, subscribe today.