AutoNation Pops as New Vehicle Sales Increase 45%

Shares of AutoNation

are seeing some strength in a relatively weak market after the company announced this morning that its May 2012 retail new vehicle sales increased to 23,763. AutoNation's retail new vehicle unit sales in May 2012, as reported to the applicable automotive manufacturers, totaled 23,763, an increase of 45% as compared to May 2011. Retail new vehicle unit sales in May 2012 for AutoNation's operating segments were 7,260 for Domestic, up 21% versus May 2011, 12,300 for Import, up 78% versus May 2011, and 4,203 for Premium Luxury, up 23% versus May 2011. AutoNation expects to report June 2012 retail new vehicle unit sales on July 5, 2012 and second quarter earnings on July 19, 2012. Currently, shares of AutoNation are trading up about 1.77% at $35.63 per share, but down over 3% year-to-date.