FORT LAUDERDALE, Fla. (AP) — AutoNation Inc. said Wednesday that its new vehicle sales rose 7 percent to 27,199 in March, helped by a double-digit jump in demand for premium luxury vehicles.
The growth included a 4 percent increase in revenue at dealerships open at least a year. The metric is a key measure of a retailer’s health, because it excludes sales at locations that recently opened or closed.
Recommended Stories
Total March sales of new domestic vehicles increased 6 percent to 8,448, while sales of imported vehicles rose 4 percent to 13,789. Premium luxury sales jumped 15 percent to 4,962.
For the first quarter, AutoNation said its total retail new vehicle unit sales rose 10 percent. The growth included a 12 percent increase in domestic vehicle sales, a 6 percent increase in import sales and a 19 percent jump in premium luxury sales.
Revenue at stores open at least a year increased 7 percent.
The Fort Lauderdale, Fla.-based company said it plans to report its April retail sales on May 2.
Its shares closed at $44.09 on Tuesday. That is closer to the high end of their 52-week range of $31.57 to $48.92.
