AutoNation 2003 Annual Report Download - page 3

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Table of Contents
PART I
Item 1. BUSINESS
Introduction
AutoNation, Inc. is the largest automotive retailer in the United States. As of December 31, 2003, we owned and operated 367 new
vehicle franchises from 283 stores located in major metropolitan markets in 17 states, predominantly in the Sunbelt region of the United
States. Our stores, which we believe include some of the most recognizable and well-known in our key markets, sell 35 different brands of
new vehicles. The core brands of vehicles that we sell, representing approximately 98% of the new vehicles that we sold in 2003, are
manufactured by Ford, General Motors, DaimlerChrysler, Toyota, Nissan, Honda and BMW.
We offer a diversified range of automotive products and services, including new vehicles, used vehicles, vehicle maintenance and repair
services, vehicle parts, extended service contracts, vehicle protection products and other aftermarket products. We also arrange financing for
vehicle purchases through third-party finance sources. We believe that the significant scale of our operations and the quality of our
managerial talent allow us to achieve efficiencies in our key markets by, among other things, reducing operating expenses, leveraging our
market brands and advertising, improving asset management and sharing and implementing best practices across all of our stores.
Our common stock, par value $.01 per share, is listed on The New York Stock Exchange under the symbol “AN.” For information
concerning our financial condition, results of operations and related financial data, you should review the “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” and the “Financial Statements and Supplementary Data” sections of this
document. You also should review and consider the risks relating to our business, operations, financial performance and cash flows that we
describe below under the “Risk Factors; Forward Looking Statements May Prove Inaccurate” section of this document.
Availability of Reports and Other Information
Our corporate website is http://www.AutoNation.com. We make available on this website, free of charge, access to our Annual Reports on
Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, Proxy Statements on Schedule 14A and amendments to those
materials filed or furnished pursuant to Section 13(a) or 15(d) of the Securities and Exchange Act of 1934 as soon as reasonably practicable
after we electronically submit such material to the Securities and Exchange Commission (the “Commission”). We also make available on
our website copies of materials regarding our corporate governance policies and practices, including the AutoNation, Inc. Corporate
Governance Guidelines; our company-wide Code of Business Ethics; our Code of Ethics for Senior Officers; our Code of Business Ethics for
the Board of Directors; and the charters relating to the committees of our Board of Directors. You also may obtain a printed copy of the
foregoing materials by sending a written request to: Investor Relations Department, AutoNation, Inc., 110 S.E. 6th Street, Fort Lauderdale,
Florida 33301. In addition, the Commission’s website is http://www.sec.gov. The Commission makes available on this website, free of
charge, reports, proxy and information statements and other information regarding issuers, such as us, that file electronically with the
Commission. Information on our website or the Commission’s website is not part of this document.
Business Strategy
As a specialty retailer, our business model is focused on developing and maintaining long-term relationships with our customers. The
foundation of our business model is operational excellence. We are pursuing the following strategies to achieve our targeted level of
operational excellence:
Deliver a superior customer experience at our stores.
Leverage our significant scale to improve our operating efficiency.
Increase our productivity.
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