AutoNation, Inc. (AN): Business Model Canvas

In der dynamischen Welt des Automobileinzelhandels gilt AutoNation, Inc. (AN) als transformatives Kraftpaket und revolutioniert die Art und Weise, wie Amerikaner Fahrzeuge kaufen, verkaufen und warten. Mit einem strategischen Geschäftsmodell, das spannt 1,200+ AutoNation hat mit seinen Händlern in den Vereinigten Staaten auf geniale Weise einen umfassenden Ansatz entwickelt, der über den traditionellen Autoverkauf hinausgeht und den Kunden ein nahtloses, technologiegestütztes Erlebnis bietet, das Komfort, Transparenz und umfassende Automobillösungen vereint. Ihr innovatives Business Model Canvas offenbart ein komplexes Ökosystem, das modernste digitale Plattformen, strategische Partnerschaften und kundenorientierte Dienstleistungen miteinander verbindet und sie als Marktführer in einer zunehmend wettbewerbsintensiven Automobillandschaft positioniert.

AutoNation, Inc. (AN) – Geschäftsmodell: Wichtige Partnerschaften

Große Automobilhersteller

AutoNation unterhält strategische Partnerschaften mit folgenden Herstellern:

Hersteller	Anzahl der Händler	Jährliches Verkaufsvolumen
Ford Motor Company	87 Händler	1,2 Milliarden US-Dollar Umsatz
Toyota Motor Corporation	64 Händler	980 Millionen US-Dollar Umsatz
Honda Motor Company	52 Händler	750 Millionen US-Dollar Umsatz

Fahrzeugfinanzierungs- und Leasingunternehmen

Zu den wichtigsten Finanzpartnerschaften gehören:

• Chase Auto Finance: 1,5 Milliarden US-Dollar an jährlicher Finanzierung
• Wells Fargo Automotive: Leasingverträge im Wert von 1,2 Milliarden US-Dollar
• Capital One Auto Finance: 890 Millionen US-Dollar an Kreditvergaben

Versicherungsanbieter

Versicherungspartner	Jährliche Versicherungsprämien	Abdeckungstyp
Fortschrittliche Versicherung	450 Millionen Dollar	Autoversicherung
Allstate	350 Millionen Dollar	Erweiterte Garantien

Digitale Marketing- und Technologieplattformen

Technologiepartnerschaften:

• Google Advertising: Jährliche Ausgaben für digitales Marketing in Höhe von 75 Millionen US-Dollar
• AutoTrader.com: 250.000 Fahrzeugangebote pro Jahr
• Salesforce CRM: Unternehmensweites Kundenmanagement

Aftermarket-Teile- und Servicelieferanten

Lieferant	Jährlicher Lieferwert	Produktkategorien
Originalteileunternehmen	620 Millionen Dollar	OEM- und Aftermarket-Teile
Advance Autoteile	450 Millionen Dollar	Ersatzteile

AutoNation, Inc. (AN) – Geschäftsmodell: Hauptaktivitäten

Fahrzeugverkauf (Neu- und Gebrauchtfahrzeuge)

Im Jahr 2022 meldete AutoNation einen Gesamtumsatz von 26,8 Milliarden US-Dollar, wobei der Verkauf von Neufahrzeugen 12,4 Milliarden US-Dollar und der Verkauf von Gebrauchtfahrzeugen 10,6 Milliarden US-Dollar ausmachte.

Fahrzeugkategorie	Verkaufsvolumen 2022	Einnahmen
Neuwagenverkauf	453.000 Einheiten	12,4 Milliarden US-Dollar
Gebrauchtwagenverkauf	521.000 Einheiten	10,6 Milliarden US-Dollar

Kfz-Service und Reparatur

Der Service- und Ersatzteilumsatz erreichte im Jahr 2022 5,8 Milliarden US-Dollar.

• Gesamte Service- und Ersatzteilzentren: 225 Standorte
• Durchschnittlicher Serviceumsatz pro Filiale: 25,8 Millionen US-Dollar

Fahrzeugfinanzierung und -leasing

Finanzdienstleistungen erwirtschafteten im Jahr 2022 789 Millionen US-Dollar.

Finanzierungskategorie	Leistung 2022
Gesamtzahl der aufgenommenen Kredite	7,2 Milliarden US-Dollar
Durchschnittlicher Kreditbetrag	$35,700

Online- und In-Store-Kundenerlebnisse

Der digitale Verkauf machte im Jahr 2022 30 % der gesamten Fahrzeugtransaktionen aus.

• Online-Fahrzeugkäufe: 135.900 Einheiten
• Nutzer digitaler Handelsplattformen: 2,3 Millionen

Flottenmanagement und Unternehmensvertrieb

Der Verkauf kommerzieller Flotten trug im Jahr 2022 1,2 Milliarden US-Dollar zum Gesamtumsatz bei.

Flottensegment	Verkaufsvolumen 2022
Kommerzielle Flotten	38.500 Fahrzeuge
Regierungsflotten	12.300 Fahrzeuge

AutoNation, Inc. (AN) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Händlernetz

Im vierten Quartal 2023 betreibt AutoNation 302 Einzelhandelsstandorte für Automobile in 17 Bundesstaaten der Vereinigten Staaten.

Netzwerkmetrik	Menge
Gesamtzahl der Händlerstandorte	302
Abgedeckte Staaten	17
Marken vertreten	32

Digitale Vertriebs- und Serviceplattformen

Zu den digitalen Plattformen von AutoNation gehören:

• Digitale Einzelhandelsplattform von AutoNation
• Online-Fahrzeugkaufsystem
• Anwendung zur Planung mobiler Dienste

Markenbekanntheit

Der Markenwert von AutoNation wird im Jahr 2023 auf 1,2 Milliarden US-Dollar geschätzt.

Fachpersonal

Personalkategorie	Anzahl der Mitarbeiter
Gesamtbelegschaft	26,000
Vertriebsmitarbeiter	8,750
Servicetechniker	6,500

Bestandsverwaltungssysteme

AutoNation nutzt fortschrittliche KI-gestützte Bestandsverfolgungssysteme mit Echtzeit-Datenintegration.

Bestandsmetrik	Wert
Gesamter Fahrzeugbestand	48.500 Fahrzeuge
Durchschnittliche Lagerumschlagsrate	45 Tage

AutoNation, Inc. (AN) – Geschäftsmodell: Wertversprechen

Große Auswahl an Neu- und Gebrauchtfahrzeugen

Im vierten Quartal 2023 betrieb AutoNation 289 Automobileinzelhandelsgeschäfte in 17 Bundesstaaten. Aufschlüsselung des Fahrzeugbestands:

Fahrzeugkategorie	Prozentsatz des Lagerbestands
Neue Fahrzeuge	42%
Gebrauchte Fahrzeuge	58%

Umfassende Automotive-Dienstleistungen

Zu den Serviceangeboten von AutoNation gehören:

• Fahrzeugwartung
• Reparaturdienste
• Teileaustausch
• Garantieleistungen

Serviceumsatz 2023: 2,7 Milliarden US-Dollar

Transparenter Preis- und Einkaufsprozess

Durchschnittlicher Fahrzeug-Bruttogewinn pro Einheit im Jahr 2023: $2,736

Preisstrategie	Details
Online-Preistransparenz	Festpreismodell
Preisgarantie	Verfügbar für ausgewählte Fahrzeuge

Bequeme Online- und Offline-Einkaufserlebnisse

Kennzahlen zum digitalen Engagement im Jahr 2023:

• Online-Fahrzeugverkauf: 35 % des Gesamtumsatzes
• Website-Traffic: 18,6 Millionen monatliche Besucher
• Downloads mobiler Apps: 2,3 Millionen

Zuverlässiger Kundensupport und After-Sales-Service

Kundendienstleistung im Jahr 2023:

Metrisch	Leistung
Bewertung der Kundenzufriedenheit	4.2/5
Servicebindungsrate	67%

AutoNation, Inc. (AN) – Geschäftsmodell: Kundenbeziehungen

Persönliche Verkaufsberatung

AutoNation betreibt ab 2023 237 Neuwagen-Franchises in 17 Bundesstaaten. Das Unternehmen beschäftigt rund 26.000 Automobil-Verkaufsexperten, die sich auf personalisierte Kundeninteraktionen konzentrieren.

Verkaufsberatungsmetrik	Daten für 2023
Durchschnittliche Kundeninteraktionszeit	2,5 Stunden
Verkaufsberater pro Standort	12-15 Fachkräfte
Bewertung der Kundenzufriedenheit	4.2/5.0

Digitale Kundensupportkanäle

AutoNation investierte im Jahr 2023 42,3 Millionen US-Dollar in die digitale Kundensupport-Infrastruktur.

• Online-Chat-Support rund um die Uhr
• Kundenservice für mobile Apps
• E-Mail-Supportkanäle
• Social-Media-Plattformen zur Kundeninteraktion

Treueprogramme und Anreize für Stammkunden

Das Treueprogramm von AutoNation generierte im Jahr 2023 Stammkundeneinnahmen in Höhe von 87,6 Millionen US-Dollar.

Metrik des Treueprogramms	Leistung 2023
Wiederholungskundenpreis	34.5%
Mitglieder des Treueprogramms	512.000 Kunden
Durchschnittlicher Wiederholungskaufwert	$37,200

Service-Wartungserinnerungen

Die Serviceabteilung von AutoNation verarbeitete im Jahr 2023 1,2 Millionen Wartungserinnerungen.

• SMS-Texterinnerungen
• E-Mail-Benachrichtigungen
• Benachrichtigungen über mobile Apps
• Automatisierte Telefonanrufe

Personalisierte Marketingkommunikation

AutoNation gab im Jahr 2023 63,4 Millionen US-Dollar für personalisierte Marketingkommunikation aus.

Marketingkommunikationsmetrik	Daten für 2023
Gezielte E-Mail-Kampagnen	4,7 Millionen gesendet
Rate der digitalen Anzeigenpersonalisierung	62%
Marketing-Conversion-Rate	3.8%

AutoNation, Inc. (AN) – Geschäftsmodell: Kanäle

Physische Händlerstandorte

AutoNation betreibt im vierten Quartal 2023 237 Neuwagen-Franchises in 16 Bundesstaaten. Gesamtzahl der Einzelhandelsstandorte für Automobile: 314 Händler.

Staatspräsenz	Anzahl der Händler
Florida	89
Texas	52
Kalifornien	41
Andere Staaten	132

Unternehmenswebsite und mobile App

Digitale Plattformen wickelten im Jahr 2023 43 % der Fahrzeugtransaktionen ab. Mobile App-Downloads: 2,1 Millionen aktive Nutzer.

Online-Fahrzeugsuche und -kauf

• Online-Bestand: über 85.000 Fahrzeuge
• Conversion-Rate digitaler Verkäufe: 22,7 %
• Durchschnittliche Online-Sitzungsdauer: 14,3 Minuten

Social-Media-Plattformen

Plattform	Anzahl der Follower
Facebook	412,000
Instagram	187,000
LinkedIn	95,000

Automobilmarktplätze von Drittanbietern

Integrierte Partnerschaften mit Carvana, CarMax und Cars.com. Umsatzvolumen des digitalen Marktplatzes: 1,2 Milliarden US-Dollar im Jahr 2023.

AutoNation, Inc. (AN) – Geschäftsmodell: Kundensegmente

Individuelle Autokäufer

AutoNation bedient einzelne Autokäufer in mehreren demografischen Segmenten:

Demografische Gruppe	Marktanteil	Durchschnittlicher Kaufwert
18-34 Jahre alt	32%	$35,750
35-54 Jahre alt	41%	$48,600
55+ Jahre alt	27%	$42,300

Firmen- und Flottenkunden

Das Unternehmenssegment von AutoNation umfasst:

• Enterprise-Vermietungsunternehmen
• Regierungsbehörden
• Kleine bis mittlere Unternehmen
• Große Firmenflotten

Kundentyp	Jährliche Fahrzeugkäufe	Durchschnittliche Flottengröße
Vermietungsunternehmen	12.500 Fahrzeuge	5.200 Fahrzeuge
Regierungsbehörden	3.750 Fahrzeuge	850 Fahrzeuge
Firmenkunden	6.200 Fahrzeuge	1.400 Fahrzeuge

Verbraucher auf dem Gebrauchtwagenmarkt

Aufschlüsselung der Gebrauchtwagensegmente:

Fahrzeugalter	Marktanteil	Durchschnittlicher Preispunkt
1-3 Jahre alt	22%	$24,500
4-7 Jahre alt	45%	$18,750
8+ Jahre alt	33%	$12,300

Käufer von Luxusfahrzeugen

Merkmale des Luxussegments:

Luxusmarke	Verkaufsvolumen	Durchschnittlicher Transaktionspreis
Mercedes-Benz	4.750 Einheiten	$68,500
BMW	4.200 Einheiten	$62,300
Lexus	3.900 Einheiten	$55,700

Erstkäufer eines Autos

Erstkäufersegment profile:

Altersspanne	Prozentsatz	Bevorzugter Fahrzeugtyp
18-24 Jahre	35%	Kompakte Limousine
25-34 Jahre	45%	Mittelklasse-Limousine/SUV
35+ Jahre	20%	Crossover/Nutzfahrzeug

AutoNation, Inc. (AN) – Geschäftsmodell: Kostenstruktur

Fahrzeuganschaffungskosten

Die Fahrzeuganschaffungskosten von AutoNation beliefen sich im Jahr 2023 auf etwa 11,4 Milliarden US-Dollar. Das Unternehmen kauft Fahrzeuge von Herstellern und durch Inzahlungnahme.

Fahrzeugbeschaffungsquelle	Prozentsatz	Kosten
Neuwagenkauf	65%	7,41 Milliarden US-Dollar
Inzahlungnahme von Gebrauchtfahrzeugen	35%	3,99 Milliarden US-Dollar

Betrieb und Wartung des Autohauses

Die gesamten Betriebskosten der Händler beliefen sich im Jahr 2023 auf 2,3 Milliarden US-Dollar.

• Instandhaltung der Anlage: 412 Millionen US-Dollar
• Versorgungsleistungen: 187 Millionen US-Dollar
• Miet- und Immobilienkosten: 534 Millionen US-Dollar
• Lagerbestand: 256 Millionen US-Dollar

Gehälter und Schulungen der Mitarbeiter

Die gesamten mitarbeiterbezogenen Ausgaben beliefen sich im Jahr 2023 auf 1,76 Milliarden US-Dollar.

Mitarbeiterkategorie	Durchschnittliches Gehalt	Gesamtkosten
Vertriebsmitarbeiter	$68,500	612 Millionen Dollar
Servicetechniker	$62,300	524 Millionen US-Dollar
Verwaltungspersonal	$55,200	398 Millionen US-Dollar
Schulung und Entwicklung	N/A	226 Millionen Dollar

Marketing- und Werbekosten

Das Marketingbudget für 2023 belief sich auf insgesamt 456 Millionen US-Dollar.

• Digitale Werbung: 187 Millionen US-Dollar
• Traditionelle Medienwerbung: 142 Millionen US-Dollar
• Social-Media-Marketing: 76 Millionen US-Dollar
• Event-Sponsoring: 51 Millionen US-Dollar

Investitionen in Technologie und digitale Plattformen

Die Technologieinvestitionen beliefen sich im Jahr 2023 auf 312 Millionen US-Dollar.

Technologiebereich	Investition
E-Commerce-Plattform	98 Millionen Dollar
Kundenbeziehungsmanagement	76 Millionen Dollar
Bestandsverwaltungssysteme	64 Millionen Dollar
Cybersicherheit	74 Millionen Dollar

AutoNation, Inc. (AN) – Geschäftsmodell: Einnahmequellen

Neuwagenverkauf

Im Jahr 2022 meldete AutoNation einen Umsatz mit Neuwagenverkäufen von 24,4 Milliarden US-Dollar. Das Unternehmen verkaufte in diesem Geschäftsjahr 294.711 Neufahrzeuge.

Fahrzeugkategorie	Verkaufsvolumen	Einnahmen
Luxusfahrzeuge	78.925 Einheiten	6,2 Milliarden US-Dollar
Nicht-Luxusfahrzeuge	215.786 Einheiten	18,2 Milliarden US-Dollar

Gebrauchtwagenverkauf

Der Gebrauchtwagenverkauf von AutoNation erreichte im Jahr 2022 16,3 Milliarden US-Dollar, wobei 672.405 Gebrauchtfahrzeuge verkauft wurden.

Fahrzeugzustand	Verkaufsvolumen	Durchschnittspreis
Zertifizierter Gebrauchtwagen	218.935 Einheiten	$32,500
Standard-Gebrauchtfahrzeuge	453.470 Einheiten	$25,300

Service- und Reparaturerlöse

Die Service- und Reparatureinnahmen beliefen sich im Jahr 2022 auf insgesamt 4,8 Milliarden US-Dollar.

• Bruttogewinn aus Teilen und Service: 2,3 Milliarden US-Dollar
• Durchschnittlicher Reparaturauftrag: 425 $
• Servicelohn: 125 $ pro Stunde

Finanzierungs- und Leasinggebühren

Im Jahr 2022 erwirtschaftete AutoNation 1,2 Milliarden US-Dollar aus Finanzierungs- und Leasingaktivitäten.

Finanzprodukt	Gesamtumsatz	Durchschnittliche Marge
Fahrzeugkredite	875 Millionen Dollar	3.5%
Fahrzeugleasing	325 Millionen Dollar	2.8%

Erweiterte Garantie- und Schutzpläne

Die Einnahmen aus erweiterten Garantie- und Schutzplänen erreichten im Jahr 2022 620 Millionen US-Dollar.

• Durchschnittliche Garantiekosten pro Fahrzeug: 1.850 $
• Durchdringungsrate der Schutzpläne: 42 %
• Garantie-Bruttogewinnspanne: 65 %

AutoNation, Inc. (AN) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose AutoNation, Inc. over the competition in late 2025. It's not just about selling cars; it's about the entire lifecycle, especially the high-margin services that stabilize the financials.

Comprehensive, one-stop shop for buying, selling, financing, and servicing vehicles is the foundation. This scale allows AutoNation to capture value across the entire vehicle ownership journey. As of the trailing twelve months ended September 30, 2025, this network included over 240 dealerships, 52 collision centers, and 26 AutoNation USA used-vehicle stores across 20 states.

The high-margin After-Sales service is a critical financial anchor. This segment delivered a gross margin of 48.7% in the third quarter of 2025, an increase of 100 basis points year-over-year. That quarter, After-Sales generated a gross profit of $597 million. For context, the Customer Financial Services (CFS) segment also hit a record gross profit of $375 million in Q3 2025.

AutoNation provides a wide selection across Domestic, Import, and Premium Luxury segments, which is evident in the Q3 2025 revenue breakdown:

Segment	Q3 2025 Revenue	Q3 2025 After-Sales Gross Margin
Premium Luxury	$2.6 billion	48.7%
Import	$2.2 billion
Domestic	$1.9 billion

The 1Price Pre-Owned experience offering transparent, haggle-free pricing removes negotiation stress. This is supported by specific customer assurances:

• The price seen online is the same price found on the lot.
• Backed by a 5-Day, 250-Mile Money-Back Guarantee.
• Vehicles are supported by a CARFAX™ Vehicle History Report.

For customers looking only to sell, the We'll Buy Your Car program provides a clear exit. This offer is a guaranteed cash offer, which is itself guaranteed for 7 days or 500 miles.

The total revenue for the quarter that these value propositions supported was $7.0 billion in Q3 2025. Finance: draft 13-week cash view by Friday.

AutoNation, Inc. (AN) - Canvas Business Model: Customer Relationships

You're looking at how AutoNation, Inc. keeps customers engaged across the entire vehicle lifecycle, moving beyond just the initial sale. It's a multi-pronged approach blending physical presence with digital tools to drive recurring revenue, which is where the real margin strength is found.

Dedicated, personalized sales consultations at physical dealerships

The foundation remains the physical dealership network, which operates over 300 locations in 20 states as of early 2025. While digital research is key, the in-person consultation is the final conversion point. The company's focus on segment performance shows tailored sales efforts, for example, the Premium Luxury segment saw its Q3 2025 revenue increase by 5% year-over-year, indicating targeted attention to high-value customers.

Here's a look at the general customer engagement landscape you are competing in:

• 95% of consumers research online before engaging.
• 80% of consumers are more likely to purchase with personalized experiences.
• Text messages achieve 98% open rates for direct dealer communication.

Transactional relationship for one-time vehicle sales

The initial vehicle sale is inherently transactional, but AutoNation, Inc. is focused on maximizing the value of that initial touchpoint through attach rates. For Q3 2025, total revenue was $7.0 billion, up 7% year-over-year, showing strong sales volume across new and used vehicles.

The initial sale is immediately followed by efforts to lock in future service revenue:

• AutoNation's product attachment rate is over two items per vehicle sold.
• New Vehicle Revenue for Q3 2025 reached $3.42 billion, an increase of 7.7%.
• Used Vehicle Retail Revenue for Q3 2025 was $1.87 billion, up 7.6%.

Recurring relationship via After-Sales service and maintenance contracts

This is a critical relationship driver, as After-Sales is a high-margin profit center. For Q2 2025, After-Sales revenue hit a record $1.2 billion, marking a 12% year-over-year increase, with gross profit up 13% to $599 million. The focus on service retention is evident in the margin performance; Q3 2025 After-Sales gross profit was $597 million, with a gross margin of 48.7%. This segment generates 49% of gross profits from only 12% of revenue.

The success of service retention programs is clear when compared to industry benchmarks:

Metric	AutoNation Indicator/Result (Latest Reported)	Industry Benchmark/Impact
After-Sales Gross Profit (Q3 2025)	$597 million	Service operations generate 49% of gross profits
After-Sales Gross Margin (Q3 2025)	48.7%	Margin expansion of 100 basis points YoY in Q2 2025
Service Retention (with complimentary maintenance)	Implied high retention due to margin strength	Jumps from 25% to 68%

Digital self-service tools for online shopping and financing pre-approval

AutoNation, Inc. supports the initial purchase journey with digital tools to streamline the process. The company's Q1 2025 results showed same-store new vehicle unit sales growth of 7% year-over-year, which is supported by digital engagement. While specific online pre-approval conversion rates aren't detailed, the growth in the captive finance arm is a direct indicator of successful digital funnel integration.

Key digital/financing penetration points include:

• Q2 2025 saw a 75% finance penetration rate, building the loyalty ecosystem.
• Q1 2025 saw 62,387 retail units sold.

Captive finance arm for long-term customer engagement

AutoNation Finance is explicitly a tool for long-term engagement and profitability. In Q3 2025, AutoNation Finance income was $2 million, a significant turnaround from a $6 million loss in Q3 2024. The portfolio size scaled to over $2 billion as of Q3 2025. The Customer Financial Services (CFS) segment delivered Q3 2025 gross profit of $375 million, up 12% year-over-year.

The growth and financial health of the captive arm are shown below:

Metric	H1 2025 (First Six Months)	Q3 2025
AN Finance Income	$2 million (vs. $4 million loss H1 2024)	$2 million (vs. $6 million loss Q3 2024)
Portfolio Size	N/A	Over $2 billion
Originations	$924 million	Customer penetration increased to 10%

The successful securitization in Q2 2025, a $700 million AN Finance asset-backed securitization, was oversubscribed by seven times with a weighted average coupon rate of 4.9%, which helped lower rates and secure debt funding. Finance and Insurance Revenue for Q1 2025 grew by 5.3% to $352.5 million.

Finance: draft 13-week cash view by Friday.

AutoNation, Inc. (AN) - Canvas Business Model: Channels

You're looking at how AutoNation, Inc. gets its vehicles and services to the customer base as of late 2025. It's a mix of physical locations and digital interfaces, all designed to capture sales and service revenue across their various segments.

Physical Dealerships (New Vehicle Franchises and AutoNation USA used stores) form the core brick-and-mortar presence. This physical network is substantial, supporting both new and used vehicle sales, as well as the high-margin after-sales business.

Channel Component	Metric	Latest Figure (as of Q3 2025)
New Vehicle Franchises	Number of Franchises	323
Total Dealership Locations	Number of Stores	244
AutoNation USA (Used Stores)	Target Footprint (End of 2026)	Over 130 stores
Geographic Concentration (Top States)	Texas Locations	65 (approx. 20% of total)
Geographic Concentration (Top States)	Florida Locations	65 (approx. 20% of total)

The physical channel is critical for the After-Sales segment. For the third quarter of 2025, this channel delivered $597 million in gross profit on $1.23 billion in parts and service revenue. The gross margin for this segment stood at 48.7% in Q3 2025. This high-margin revenue stream is a key component of the overall $7.0 billion in total revenue reported for Q3 2025.

Dedicated After-Sales Service Centers (including 52 collision centers) are a distinct channel focus, emphasizing service and repair as a standalone profit driver. This channel leverages factory-trained technicians and specialized equipment.

• Branded Body Shops (Collision Centers): 52 locations.
• After-Sales Gross Profit (Q3 2025): $597 million.
• Parts and Service Revenue (Q3 2025): $1.23 billion.

AutoNation.com digital platform for online inventory and transaction initiation is where the digital customer journey starts, integrating with the physical network. This platform supports the company's focus on digital retail experiences.

• EV Sales as % of Total Revenue (Q2 2025): 18%.
• Charging Stations Installed (Target/Status): 75% of dealerships.
• AutoNation Express platform: Used to streamline online buying and selling.

Direct Sales Consultants and Finance Managers are the personnel-driven channels that close the deal and drive high-margin ancillary products. The success of the captive finance arm is directly tied to this in-person or remote consultation channel.

• AutoNation Finance Portfolio (2025): Grew to more than $2 billion.
• AutoNation Finance Income (First Nine Months 2025): $4 million.

Third-party listing sites (e.g., AutoTrader.com) serve as an initial awareness and lead generation channel, driving traffic to the physical and digital AutoNation properties. While specific spend or lead volume data isn't public, these sites are a necessary touchpoint in the broader automotive retail ecosystem.

AutoNation, Inc. (AN) - Canvas Business Model: Customer Segments

AutoNation, Inc. (AN) serves distinct customer groups across its integrated automotive retail platform, as evidenced by its segment performance through the third quarter of 2025.

The core vehicle sales customer base is segmented by brand tier, which directly correlates with the company's reporting structure:

Customer Segment Group	Q3 2025 Revenue (Millions USD)	First Nine Months 2025 Revenue (Billions USD)	Q3 2025 Segment Income (Millions USD)
Mass Market (Domestic)	$1,900.0	$5.6	$81.0
Mass Market (Import)	$2,200.0	$6.4	$124.0
Affluent/Luxury (Premium Luxury)	$2,600.0	$7.7	$161.0

The Premium Luxury segment generated $2.6 billion in revenue for the third quarter of 2025. For the first nine months of 2025, the combined new vehicle revenue across all segments reached $10.06 billion.

Used Vehicle Shoppers seeking value and a haggle-free process are a critical segment, with the company reporting specific performance metrics:

• Used Vehicle Retail Revenue for Q3 2025 was $2,015.7 million.
• Total Used Vehicle Gross Profit for Q3 2025 was $361 million.
• Unit profitability for used vehicles in Q3 2025 was $1,604 per unit.
• Same-store used vehicle retail unit sales increased by 2% in Q3 2025.
• Used vehicle unit profitability in Q1 2025 reached $1,662 per vehicle.

Vehicle Owners requiring recurring maintenance and repair services form the high-margin After-Sales customer base:

• Parts and Service Revenue for Q3 2025 totaled $1.23 billion.
• After-Sales Gross Profit for Q3 2025 was $597 million, up 7% year-over-year.
• The After-Sales Gross Margin stood at 48.7% in Q3 2025.
• After-Sales Revenue for the first nine months of 2025 was $3.6113 billion.

Customers requiring in-house financing are served by AutoNation Finance (CFS), which has scaled its operations:

• Customer Financial Services (CFS) Gross Profit for Q3 2025 was a record $375 million, up 12% year-over-year.
• AutoNation Finance generated an income of $2 million in Q3 2025.
• The AutoNation Finance portfolio grew to more than $2 billion as of Q3 2025.
• The loan penetration rate at AutoNation USA stores reached 25% in Q3 2025.
• Finance penetration rates across all stores remained above 70% in Q1 2025.

AutoNation, Inc. (AN) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive AutoNation, Inc.'s operations as of late 2025. This structure is heavily weighted toward the cost of acquiring and holding the vehicles it sells.

Vehicle Inventory Costs (Cost of Goods Sold) are the largest expense. This cost is the difference between the revenue generated and the gross profit earned on those sales. For the third quarter of 2025, total revenue was $7,037.4 million, against a Gross Profit of $1,238.4 million, meaning the Cost of Goods Sold for the quarter was approximately $5,799.0 million.

The company maintains a focus on cost discipline, particularly within Selling, General, and Administrative (SG&A) expenses. For the nine months ended September 30, 2025, the adjusted SG&A as a percentage of gross profit was 67.0%, slightly up from 66.7% in the prior year period. For the third quarter of 2025 alone, the adjusted SG&A as a percentage of gross profit was 67.4%, flat compared to the prior year quarter.

Floorplan Interest Expense, which is the cost of financing vehicle inventory, shows some moderation. The net new vehicle floor plan expense related to OEMs for the third quarter of 2025 totaled $12,000,000, a decrease from $20,000,000 in the same period last year. AutoNation Finance portfolio growth, exceeding $2 billion, also impacts interest-related costs and revenues.

Personnel Costs, covering sales commissions, technician wages, and corporate staff, are embedded within the SG&A structure. The strong performance in After-Sales, which posted a gross profit of $597 million in Q3 2025, suggests significant associated labor costs, though these are not broken out separately here.

Capital Expenditures (CapEx) reflect ongoing investment in the physical footprint and technology. For the first nine months ended September 30, 2025, capital expenditures totaled $223 million. This spending supports strategic growth, including recent acquisitions.

Here's a quick look at some key financial metrics around gross profit and related costs for Q3 2025:

Metric	Q3 2025 Amount (Millions)	Year-over-Year Change
Total Revenue	$7,037.4	7% Increase
Gross Profit	$1,238.4	5% Increase
After-Sales Gross Profit	$597	7% Increase
Customer Financial Services (CFS) Gross Profit	$375	12% Increase
Net New Vehicle Floor Plan Expense (OEM related)	$12.0	Decrease from $20.0 million

The investment in the business structure includes deploying capital for expansion and facility upgrades:

• Capital Expenditures Year-to-Date (YTD) through Q3 2025: $223 million.
• Capital Expenditure in Q3 2025 Quarter: $68.9 million.
• Total capital deployed YTD through Q3 2025 (including acquisitions and repurchases): $1.01 billion.
• Acquisitions YTD represent more than $500 million of annual revenues.

The company's focus on operational leverage is clear in the YTD SG&A discipline, which management targets to keep within the 66% to 67% range of gross profit.

AutoNation, Inc. (AN) - Canvas Business Model: Revenue Streams

You're looking at how AutoNation, Inc. actually brings in the money, which is key for understanding its stability. The revenue streams are diverse, which helps smooth out the cyclical nature of vehicle sales. As of late 2025, the business model relies heavily on moving metal, but the profit quality comes from the services attached.

The core revenue drivers for the third quarter of 2025 show a strong mix of transactional and recurring income sources. Total revenue for the third quarter of 2025 hit $7.0374 billion, a 6.9% increase year-over-year.

Here is a breakdown of the major revenue components based on Q3 2025 performance:

• New Vehicle Sales Revenue: $3.4 billion.
• Used Vehicle Sales Revenue: $2.0 billion.
• After-Sales Revenue: Grew 6% to $1.2 billion for the quarter.
• Customer Financial Services Revenue: Increased 11% to $368 million for the quarter.

While revenue is important, gross profit tells a better story about the profitability of each stream. You can see the difference between the high-volume sales and the higher-margin service and finance operations in the table below:

Revenue Stream Component	Q3 2025 Gross Profit (Millions USD)	Q3 2025 Revenue (Billions USD)
New Vehicle Sales Gross Profit	$150.0 million	$3.4 billion
Used Vehicle Sales Gross Profit	$114.0 million	$2.0 billion
After-Sales (Parts and Service) Gross Profit	$597 million	$1.2 billion
Customer Financial Services (CFS) Gross Profit	$375 million	$0.368 billion

The After-Sales segment is definitely a profit center, delivering a gross profit of $597 million in Q3 2025, with a gross margin of 48.7%. That margin is solid; it's what keeps the lights on when vehicle margins compress. The Customer Financial Services gross profit was a record $375 million, up 12% year-over-year.

For the AutoNation Finance piece, the focus is on portfolio growth and the income derived from it. AutoNation Finance income for the third quarter of 2025 was reported as $2 million, a significant swing from a loss of $6 million in the prior-year period. This segment is scaling up its loan portfolio, which management noted grew to more than $2 billion. This portfolio growth is the foundation for future interest and fee income, even if the current quarter's direct income was modest.

The revenue streams are clearly segmented to capture value at every stage of the customer lifecycle:

• Initial Transaction: New and Used Vehicle Sales Revenue.
• Ownership Retention: After-Sales (Parts and Service) Gross Profit.
• Financing & Protection: Customer Financial Services Gross Profit.
• Portfolio Yield: AutoNation Finance Interest and Fee Income.

Finance and insurance gross profit, which includes CFS, saw a 12% increase to $374.8 million in Q3 2025. That's a defintely important metric showing the strength of the non-vehicle related revenue.

Finance: review Q4 2025 projections for AutoNation Finance income by next Tuesday.