AutoNation May sales up 11 pct

AutoNation posts 11 pct increase in May sales on strong premium luxury, domestic demand

Associated Press

FORT LAUDERDALE, Fla. (AP) -- AutoNation Inc. said Tuesday its May new vehicle sales rose 11 percent to 26,372, helped by strong demand for both domestic and premium luxury vehicles.

Sales of domestic vehicles rose 14 percent to 8,287, while sales of premium luxury vehicles increased 17 percent to 4,904. Sales of import vehicles rose 7 percent to 13,181.

The company said its revenue at stores open at least a year increased 8 percent. The metric is a key measure of a retailer's health, because it excludes revenue at stores that recently opened or closed.

Fort Lauderdale, Fla.-based AutoNation plans to report its June sales on July 3. The company runs 265 new vehicle franchises, which sell 32 brands in 15 states.

In morning trading, AutoNation shares rose 73 cents, to $46.95. The stock has changed hands between $33.84 and $48.92 in the past 52 weeks.

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