CarMax results fall short as inflation-hit buyers rethink purchases [Reuters]
AutoNation, Inc. (AN)
Last autonation, inc. earnings: 2/11 06:45 am
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Source: Reuters
Strong demand for personal transport has led to steady sales of both new and used cars in the United States so far, but rising interest rates and higher car prices are starting to upend that trend. “We believe a number of macroeconomic factors impacted our second-quarter unit sales performance, such as vehicle affordability challenges that stem from widespread inflationary pressures, as well as climbing interest rates and low consumer confidence,” CarMax said. Auto research firm Cox Automotive, which tracks U.S. vehicle market trends, on Wednesday cut its forecast for new and used vehicle sales on worsening consumer sentiment. Consumers are pulling themselves out of the purchase process as rising interest rates and high vehicle prices make monthly payments unaffordable, said Cox Automotive Chief Economist Jonathan Smoke. CarMax's quarterly sales and profit miss and bleak commentary were a drag on shares of rivals AutoNation Inc and Lithia & Driveway, both of which fell about
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- Here's What Black Bear Value Partners Think About AutoNation (AN) [Yahoo! Finance]Yahoo! Finance
- AutoNation, Inc. (NYSE: AN) had its price target lowered by analysts at Bank of America Co. from $220.00 to $215.00. They now have a "buy" rating on the stock.MarketBeat
- AutoNation Announces First Quarter 2024 Earnings Conference Call and Audio Webcast Scheduled for Friday, April 26, 2024PR Newswire
- AutoNation's (NYSE:AN) five-year total shareholder returns outpace the underlying earnings growth [Yahoo! Finance]Yahoo! Finance
- 10 Fastest Growing Cities in Florida [Yahoo! Finance]Yahoo! Finance
AN
Earnings
- 2/13/24 - Beat
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Sec Filings
- 3/22/24 - Form SC
- 3/22/24 - Form 4
- 3/21/24 - Form 144
- AN's page on the SEC website