AutoNation 2003 Annual Report Download - page 24
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Table of Contents
Years Ended December 31,
% 2003 % 2002 % 2001
Revenue mix percentages:
New vehicle 60.8 60.0 60.0
Used vehicle 23.2 24.2 25.0
Parts and service 12.7 12.6 12.0
Finance and insurance 3.1 2.9 2.6
Other .2 .3 .4
Total 100.0 100.0 100.0
Operating items as a percentage of revenue:
Gross profit:
New vehicle 7.2 7.8 8.0
Used vehicle 10.8 10.6 11.0
Parts and service 43.6 43.5 43.2
Total 15.3 15.3 15.0
Selling, general and administrative expenses 11.1 11.3 11.0
Operating income 3.7 3.7 2.8
Other operating items as a percentage of total gross profit:
Selling, general and administrative expenses 72.8 73.7 73.6
Operating income 24.1 24.3 18.9
December 31,
2003 2002
Days supply:
New vehicle (industry standard of selling days, including
fleet) 71 days 63 days
Used vehicle (trailing 30 days) 41 days 40 days
The following table details net inventory carrying costs consisting of floorplan assistance, a component of new vehicle gross profit, and
floorplan interest expense.
Years Ended December 31,
Variance Variance
2003 2002 2003 vs. 2002 2001 2002 vs. 2001
Floorplan assistance $116.5 $127.9 $(11.4) $140.8 $(12.9)
Floorplan interest expense (71.4) (74.8) 3.4 (126.7) 51.9
Net inventory carrying benefit $45.1 $53.1 $(8.0) $14.1 $39.0
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