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-0.000127307447485562 -0.00050922978994261 -0.000636537237428353 -0.000636537237428353 0.00903882877148323 0.0327180140038193 0.0316995544239339 0.0306810948440485
Stock impact report

Big U.S. Dealership Groups Invest In Online Used-Car Sales [Forbes]

AutoNation, Inc. (AN) 
Last autonation, inc. earnings: 2/11 06:45 am Check Earnings Report
US:NYSE Investor Relations: investors.autonation.com
Company Research Source: Forbes
AutoNation Inc., the biggest U.S. new-car retailer, announced it was buying a 7 percent stake in online used-car retailer Vroom , for $50 million, part of what could be a growing trend. The investment raises a lot of possibilities, said Mike Jackson, AutoNation chairman and CEO. “Obviously, since we’re both in the automobile business, we can talk about are there possibilities to do other things together,” he said in a conference call on Tuesday. But he insisted that for now, the investment is just that, an investment. “Nothing has been decided and that is firmly in the we-will-see category,” Jackson said. He stated the “we-will-see” nature of the deal a couple of times, in the conference call. Photo: Getty Royalty Free Stating the obvious, a partnership with Vroom would give AutoNation another channel to buy and sell used cars, and one that’s not limited to AutoNation’s brink-and-mortar stores. Vroom has offices in New York and Houston. AutoNatio Show less Read more
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