Used-car sales climb 32% for AutoNation in first half

AutoNation increased its used-vehicle sales by more than 32% in the first half of the year and pulled in nearly 22% higher gross profits on those cars, according to quarterly earnings from the dealer group released Monday.

Specifically, the retailer sold 152,369 used retail units in the first six months of the year, a 32.4% increase from the same period of 2020.

Retail used vehicle revenue was up 53.8% at $3.73 billion. Gross profits on used retail units came in at $305.6 million, a 61.4% upswing.

Revenue per used unit retailed was $24,479, a 16.2% uptick. AutoNation generated $2,006 in gross profits per used retail unit retailed. That beat year-ago figures by 21.9%.

Staying on the used-car side, the retailer also shared an update on its AutoNation USA standalone pre-owned vehicle stores.

During the second quarter, the group opened AutoNation San Antonio, a store that ended up reaching profitability in its first full month and “has exceeded expectations.”

The retailer still plans on adding four more AutoNation USA stores in the back half of the year and another 12 next year.

The plan is to have more than 130 by the end of 2026.