AutoNation Sells 8 Dealerships in Strategic Realignment
AutoNation has completed the sale of eight dealerships across various markets, reflecting its ongoing efforts to optimize its portfolio and focus on core operational areas in the factory of economic uncertainty, according to Automotive News.
The move comes shortly after a third quarter that the nation’s No. 1 auto retailer said led to a 24% drop in net income. AutoNation cited impacts from the CDK cyberattacks along with a decline in used-vehicle sales for the loss.
AutoNation did not cite the Q3 losses in reporting relating to the sale of the dealerships, instead describing the stores, which sold for a total of $156 million, as underperforming.
