Tranche Update on AutoNation, Inc. (NYSE:AN)'s Equity Buyback Plan announced on October 24, 2007.
July 19, 2021 at 05:31 pm IST
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From April 1, 2021 to June 30, 2021, the company has repurchased 7,498,387 shares, representing 9.32% for $736.13 million. With this, the company has completed the repurchase of 132,025,386 shares, representing 106.19% for $5,205.72 million under the buyback announced on October 24, 2007.
AutoNation, Inc., through its subsidiaries, is an automotive retailer in the United States. The Company operates through three segments: Domestic, Import and Premium Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles manufactured by General Motors, Ford, and Stellantis. Its Import segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Toyota, Honda, Hyundai, Subaru, and Nissan. Its Premium Luxury segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes-Benz, BMW, Audi, Lexus, Jaguar, Bentley, and Land Rover. The franchises in each segment also sell used vehicles, parts and automotive repair and maintenance services, and automotive finance and insurance products. It owns and operates approximately 349 new vehicle franchises from 252 stores located in the United States, primarily in metropolitan markets in the Sunbelt region.