Luxury Car Growth Accelerates at AutoNation in October
Automakers' grosssales statistics notwithstanding, it's not always easy to understand howcar sales are stacking up in the real world. The nation's largest automotive retailer, AutoNation , knows, and on Monday, it announced its latest sales figures for new car sales in October.
According to the Fort Lauderdale, Fla.-based retailer, it moved 22,914 pieces of metal in October, 9% more than it sold in October 2012. Some of the growth came from new store openings, but same-store sales were also up -- 4% year over year.
Imported cars showed the weakest sales growth, which should be good news for America's Big Three automakers. AutoNation sold 10,744 imported cars in October, up 8% year over year.
Domestic cars outperformed that growth rate, even if the market for them was a bit smaller. All told, 7,003 domestic cars were sold -- 9% growth over October 2012 levels.
Finally, well-heeled consumers proved small in number, but freer with their dollars. AutoNation pushed 5,167 premium luxury cars off the lot last month, 13% more than a year ago.
The article Luxury Car Growth Accelerates at AutoNation in October originally appeared on Fool.com.Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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