AutoNation 2006 Annual Report Download - page 29
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Table of Contents
Used Vehicle
Retail revenue $ 3,621.2 $ 3,487.9 $ 133.3 3.8 $ 3,338.6 $ 149.3 4.5
Wholesale revenue 896.9 827.1 69.8 8.4 764.0 63.1 8.3
Total revenue $ 4,518.1 $ 4,315.0 $ 203.1 4.7 $ 4,102.6 $ 212.4 5.2
Retail gross profit $ 409.8 $ 415.9 $ (6.1) (1.5) $ 382.2 $ 33.7 8.8
Wholesale gross profit (0.7) 2.9 (3.6) 1.9 1.0
Total gross profit $ 409.1 $ 418.8 $ (9.7) (2.3) $ 384.1 $ 34.7 9.0
Retail vehicle unit sales 225,609 228,528 (2,919) (1.3) 226,271 2,257 1.0
Revenue per vehicle retailed $ 16,051 $ 15,262 $ 789 5.2 $ 14,755 $ 507 3.4
Gross profit per vehicle retailed $ 1,816 $ 1,820 $ (4) (.2) $ 1,689 $ 131 7.8
Gross profit as a percentage of retail
revenue 11.3% 11.9% 11.4%
Days supply (trailing 30 days) 42 days 42 days
Retail revenue $ 3,595.4 $ 3,487.8 $ 107.6 3.1
Wholesale revenue 876.7 824.5 52.2 6.3
Total revenue $ 4,472.1 $ 4,312.3 $ 159.8 3.7
Retail gross profit $ 407.3 $ 415.9 $ (8.6) (2.1)
Wholesale gross profit (2.7) .3 (3.0)
Total gross profit $ 404.6 $ 416.2 $ (11.6) (2.8)
Retail vehicle unit sales 224,980 228,528 (3,548) (1.6)
Revenue per vehicle retailed $ 15,981 $ 15,262 $ 719 4.7
Gross profit per vehicle retailed $ 1,810 $ 1,820 $ (10) (.5)
Gross profit as a percentage of retail
revenue 11.3% 11.9%
Reported used vehicle performance benefited from the impact of acquisitions when compared to same store performance.
Same store retail used vehicle revenue for 2006 increased compared to 2005 primarily as a result of increased same store average
revenue per unit retailed, partially offset by decreased sales volume. Same store revenue per vehicle retailed for 2006 increased due to a
shift in our retail used vehicle sales mix to import luxury vehicles. Same store unit volumes and retail gross profit per vehicle for 2006
decreased as a result of a challenging automotive retail environment.
Used vehicle revenue for 2005 increased compared to 2004 due to an increase in average revenue per vehicle retailed partially offset
by a slight decrease in unit volume. The increase in same store average revenue per unit is the result of strengthened used vehicle market
prices and the availability of quality used vehicles from trade-ins. Consistent with the new vehicle unit volume decline, used vehicle unit
volume was impacted by lower sales unit volumes resulting from a challenging United States’ automotive retail environment and the
effects of Hurricane Wilma on our Florida stores during the fourth quarter of 2005. Gross profit and gross profit as a percentage of
revenue increased as a result of better inventory management focused on optimizing used vehicle inventory supply, mix and pricing.
Used vehicle inventories were at $306.0 million or 42 days supply at December 31, 2006 compared to $318.8 million or 42 days in
2005.
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