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AutoNation sells new vehicles through manufacturer-franchised dealerships and used vehicles through those dealerships and its AutoNation USA stores. Vehicle sales bring in most of its revenue, with new vehicles the largest source. But parts and service, together with commissions from arranging financing and selling vehicle-protection products, generate most of its gross profit. Customers pay for repairs and maintenance, while manufacturers reimburse dealerships for warranty and recall work.
When a buyer needs financing, AutoNation mainly arranges a loan or lease with a third-party lender and receives a commission. It also earns commissions by selling protection products, such as extended service contracts, backed by outside providers. Its own AutoNation Finance subsidiary lends to qualified buyers at its stores and earns interest over the life of those loans; that business depends on borrowers repaying and on the cost and availability of funding.
AutoNation relies entirely on manufacturers for its new-vehicle inventory. Its franchise agreements govern which brands it can sell and impose operating requirements, acquisition limits and branding restrictions. Most revenue comes from stores in Florida, Texas and California, so vehicle demand in those markets matters to the business.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
AutoNation also relies on manufacturers absent from this list—including Ford, Honda, BMW and Mercedes-Benz—for vehicle inventory, parts and warranty support.
Asbury Automotive Group, Inc. competes with AutoNation for buyers of domestic, import and luxury vehicles, as well as their service spending and financing business. Watch Asbury’s parts, service and finance-product results alongside vehicle sales: parts and service supplied 48% of AutoNation’s gross profit in 2025, and finance and insurance another 30%.
Group 1 Automotive, Inc. competes with AutoNation for new- and used-car buyers, servicing customers and fees from arranging financing, especially in Texas and other overlapping U.S. markets. Its Texas vehicle sales are the useful local comparison; Texas supplied 20% of AutoNation’s total revenue in 2025.
Lithia Motors, Inc. competes with AutoNation through dealerships and online channels for customers buying vehicles, financing products and repair services. Watch how Lithia connects its Driveway and GreenCars platforms with its stores and inventory—the same online-to-store approach AutoNation uses to serve buyers.
Sonic Automotive, Inc. competes with AutoNation for vehicle buyers through franchised dealerships, while its EchoPark used-car stores compete with AutoNation USA. EchoPark’s revenue is the more focused comparison for AutoNation’s standalone used-car stores, rather than Sonic’s dealership business as a whole.
Penske Automotive Group, Inc.’s U.S. car dealerships compete with AutoNation for vehicle buyers and customers paying for dealership service. Focus on those operations rather than Penske’s total results, which also include substantial overseas and commercial-truck businesses.
CarMax Inc. competes with AutoNation both to sell used cars to consumers and to buy their vehicles; both also lend to customers buying their own retail vehicles. CarMax Auto Finance’s results provide a comparison for AutoNation Finance, separate from the competition for used-car sales and inventory.
Carvana’s nationwide online used-car platform competes with AutoNation for buyers, trade-ins and the financing attached to those purchases. Watch Carvana’s retail vehicle unit sales: each sale also opens opportunities for financing revenue and trade-in inventory.
AutoNation depends on Toyota Motor Corporation to supply Toyota and Lexus vehicles for its import and luxury dealerships, plus parts and warranty support for servicing customers. Watch vehicle allocations and warranty reimbursements: they affect what AutoNation can sell and collect for warranty repairs.
AutoNation depends on General Motors Company for vehicles and replacement parts at its GM dealerships, linking its vehicle sales and service profits to GM’s supply and warranty activity. Watch product availability and warranty reimbursements rather than treating GM’s worldwide results as a direct measure of AutoNation’s business.
AutoNation depends on Stellantis N.V. for the new vehicles and related parts its Chrysler, Dodge, Jeep and Ram dealerships sell to customers. Supply news for those four brands is the relevant signal for AutoNation, rather than results across Stellantis’s entire global brand portfolio.
General Motors Company earningsGM
GM’s report offers a signal on vehicle and parts supply and warranty activity for AutoNation’s GM dealerships, which affects what those stores can sell and collect for repairs.
Look for GM’s disclosures on vehicle and parts supply and warranty activity. Smooth supply and steady warranty support would help AutoNation’s GM dealerships stock cars and collect for warranty repairs; disruption or weaker support could weigh on those stores’ vehicle sales and service income.
Asbury Automotive Group, Inc. earningsABG
Asbury Automotive Group’s report shows whether dealership customers are still spending on vehicles, service and financing, businesses that also shape AutoNation’s profits.
Read Asbury’s parts-and-service and finance-and-insurance results alongside vehicle sales, not just its total revenue. If service and finance hold up while vehicle sales are steady, dealerships are still earning across both the sale and follow-on customer relationship, a supportive sign for AutoNation’s shared business. If those lines weaken together, AutoNation’s comparable profit sources face pressure too.
Fed Interest Rate Decision
The Fed’s rate decision signals the direction of borrowing costs across the economy, affecting what AutoNation pays on variable-rate floorplan and credit facilities and what customers pay to finance vehicles.
Expected4.0%Last release4.0%
If it comes in above expectations
Higher rates can raise AutoNation’s interest costs on variable-rate floorplan and credit facilities, while making customer vehicle loans more expensive and potentially weighing on affordability and sales.
If it comes in below expectations
Lower rates can reduce AutoNation’s interest costs on variable-rate funding and make customer vehicle loans cheaper, potentially easing affordability pressures and supporting sales.
Sonic Automotive, Inc. earningsSAH
Sonic Automotive’s EchoPark and AutoNation USA both run standalone used-car stores, so Sonic’s report can show whether used-car demand and per-sale economics are holding up.
Focus on EchoPark’s retail used-car sales and any reported per-vehicle profit or gross-profit measure. Steady sales with per-car economics holding up would suggest demand and pricing can support stores such as AutoNation USA. Weak sales, or growth that comes at the cost of per-car economics, would point to a tougher market for AutoNation’s standalone used-car business.
AutoNation, Inc. earningsThis company
AutoNation relies more on parts and service and finance and insurance for gross profit than on new vehicles, and this report will show whether those businesses keep cushioning vehicle-sales pressure.
Read parts-and-service and finance-and-insurance gross profit alongside new-vehicle gross profit and sales. If the first two hold or grow and new-vehicle gross profit is steady, AutoNation’s higher-contribution businesses are still supporting the mix. If they weaken, especially as new-vehicle gross profit falls too, they are not offsetting pressure on vehicle sales.
CarMax Inc. earningsKMX
CarMax Auto Finance gives a comparison for AutoNation Finance, showing whether lending income is growing faster than losses from customers who do not repay.
Compare CarMax Auto Finance’s lending income with its credit losses. Rising income with controlled losses suggests auto lending is still producing returns, a constructive comparison for AutoNation Finance. If losses rise relative to income, borrower repayment stress could also erode returns at AutoNation’s lender. The companies have different customers and loan portfolios, so this is a sector comparison, not a result for AutoNation.
