Today's Research on AutoNation and CarMax: Increased Sales and New Locations are in Order
LONDON--January 28, 2013:
The auto dealerships industry has been on a roll for some time now, and companies such as Auto Nation Inc. and CarMax Inc. are hoping that 2013 continues to be prosperous. StockCall analysts completed technical analysis on these two auto dealers. The free reports can be accessed by signing up now at Technical Analysis Autonation
The industry has a lot going for it and the assumption that 2013 will be a positive year is backed by low interest rates, pent up demand, an ageing fleet of vehicles on U.S. roads and an improving economy. For select companies, such as AutoNation, December was an encouraging month. AutoNation newly posted figures from its retail new vehicle unit sales, which for the month of December totalled 27,958. The number represented a 15% increase over the same period last year, and it was helped by double digit increases from the company's Domestic, Import and Premium Luxury segments. Visit us and register for our free report on AutoNation and more at StockCall
In an attempt to capitalize on the strong demand, several companies have been expanding their geographical presence. CarMax is a good example of this, as it is set to open its second location in Jacksonville Florida on February 23, 2013. The company also has plans for further expansions this year. For its most recent quarter the largest used cars seller in the country, saw its profits jumped by 15.3% to $94.7 million from $82.1 million seen a year ago for the same quarter helped by surging vehicle sales. The company also saw its Finance arm deliver a 15.8% increase in profit. Read our latest technical report on CarMax by signing up for free at StockCall CarMax
With earnings season is full swing, investors should note down that AutoNation will be releasing their financial results this week on January 31 st before the market opens.