Autonation, Inc. (An): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico do Automotive Retail, a AutoNation, Inc. (An) é uma potência transformadora, revolucionando como os americanos compram, vendem e atendem veículos. Com um modelo de negócios estratégico que se estende 1,200+ Revendedores nos Estados Unidos, a Autonation criou engenhosamente uma abordagem abrangente que vai além das vendas tradicionais de carros, oferecendo aos clientes uma experiência perfeita e orientada por tecnologia que combina conveniência, transparência e soluções automotivas abrangentes. Seu modelo inovador de modelo de negócios revela um ecossistema complexo que entrelaça plataformas digitais de ponta, parcerias estratégicas e serviços centrados no cliente, posicionando-os como líder de mercado em um cenário automotivo cada vez mais competitivo.

Autonation, Inc. (An) - Modelo de Negócios: Parcerias -Chaves

Principais fabricantes automotivos

A Autonation mantém parcerias estratégicas com os seguintes fabricantes:

Fabricante	Número de concessionárias	Volume anual de vendas
Ford Motor Company	87 concessionárias	US $ 1,2 bilhão em vendas
Toyota Motor Corporation	64 concessionárias	US $ 980 milhões em vendas
Honda Motor Company	52 concessionárias	US $ 750 milhões em vendas

Empresas de financiamento e leasing de veículos

As principais parcerias financeiras incluem:

• Chase Auto Finance: US $ 1,5 bilhão em financiamento anual
• Wells Fargo Automotive: US $ 1,2 bilhão em acordos de leasing
• Capital One Auto Finance: US $ 890 milhões em origens de empréstimos

Provedores de seguros

Parceiro de seguro	Prêmios anuais de seguro	Tipo de cobertura
Seguro progressivo	US $ 450 milhões	Seguro automóvel
Allstate	US $ 350 milhões	Garantias estendidas

Plataformas de marketing digital e tecnologia

Parcerias de tecnologia:

• Google Advertising: US $ 75 milhões anuais de marketing digital gastos
• Autotrader.com: 250.000 listagens de veículos por ano
• Salesforce CRM: Gerenciamento de clientes em toda a empresa

Peças de reposição e fornecedores de serviços

Fornecedor	Valor anual da oferta	Categorias de produtos
Empresa de peças genuínas	US $ 620 milhões	OEM e peças de pós -venda
Avanço de autopeças	US $ 450 milhões	Peças de reposição

Autonation, Inc. (An) - Modelo de Negócios: Atividades -chave

Vendas de veículos (novas e usadas)

Em 2022, a Autonation registrou uma receita total de US $ 26,8 bilhões, com vendas de veículos novos representando US $ 12,4 bilhões e usou vendas de veículos gerando US $ 10,6 bilhões.

Categoria de veículo	2022 Volume de vendas	Receita
Vendas de novos veículos	453.000 unidades	US $ 12,4 bilhões
Vendas de veículos usados	521.000 unidades	US $ 10,6 bilhões

Serviço e reparo automotivos

A receita de serviço e peças atingiu US $ 5,8 bilhões em 2022.

• Centros de serviço e peças totais: 225 locais
• Receita média de serviço por loja: US $ 25,8 milhões

Financiamento e leasing de veículos

Os serviços financeiros geraram US $ 789 milhões em 2022.

Categoria de financiamento	2022 Performance
Empréstimos totais originados	US $ 7,2 bilhões
Valor médio do empréstimo	$35,700

Experiências de clientes online e na loja

As vendas digitais representaram 30% do total de transações de veículos em 2022.

• Compras de veículos on -line: 135.900 unidades
• Usuários da plataforma de varejo digital: 2,3 milhões

Gerenciamento de frota e vendas corporativas

As vendas de frotas comerciais contribuíram com US $ 1,2 bilhão para a receita total em 2022.

Segmento de frota	2022 Volume de vendas
Frotas comerciais	38.500 veículos
Frotas do governo	12.300 veículos

Autonation, Inc. (An) - Modelo de Negócios: Recursos -Principais

Extensa rede de concessionárias

A partir do quarto trimestre 2023, a Autonation opera 302 locais automotivos de varejo em 17 estados nos Estados Unidos.

Métrica de rede	Quantidade
Locais totais de concessionária	302
Estados cobertos	17
Marcas representadas	32

Plataformas de vendas e serviços digitais

As plataformas digitais da Autonation incluem:

• Plataforma de varejo digital de autonation
• Sistema de compra de veículos on -line
• Aplicativo de agendamento de serviços móveis

Reconhecimento da marca

O valor da marca da Autonation estimado em US $ 1,2 bilhão a partir de 2023.

Pessoal qualificado

Categoria de pessoal	Número de funcionários
Força de trabalho total	26,000
Representantes de vendas	8,750
Técnicos de serviço	6,500

Sistemas de gerenciamento de inventário

A Autonation utiliza sistemas avançados de rastreamento de inventário com IA com integração de dados em tempo real.

Métrica de inventário	Valor
Inventário total de veículos	48.500 veículos
Taxa média de rotatividade de inventário	45 dias

AutoNation, Inc. (An) - Modelo de Negócios: Proposições de Valor

Ampla seleção de veículos novos e usados

A partir do quarto trimestre 2023, a Autonation operava 289 lojas automotivas de varejo em 17 estados. Aparelhamento do inventário de veículos:

Categoria de veículo	Porcentagem de inventário
Veículos novos	42%
Veículos usados	58%

Serviços automotivos abrangentes

As ofertas de serviços de autonation incluem:

• Manutenção do veículo
• Serviços de reparo
• Substituição de peças
• Serviços de garantia

2023 Receita de serviço: US $ 2,7 bilhões

Processo de preços e compras transparentes

Lucro bruto médio do veículo por unidade em 2023: $2,736

Estratégia de preços	Detalhes
Transparência de preços on -line	Modelo de preços fixos
Garantia de correspondência de preços	Disponível em veículos selecionados

Experiências de compras online e offline convenientes

Métricas de engajamento digital em 2023:

• Vendas de veículos on -line: 35% do total de vendas
• Tráfego do site: 18,6 milhões de visitantes mensais
• Downloads de aplicativos móveis: 2,3 milhões

Suporte ao cliente confiável e serviço pós-venda

Desempenho do atendimento ao cliente em 2023:

Métrica	Desempenho
Classificação de satisfação do cliente	4.2/5
Taxa de retenção de serviços	67%

AutoNation, Inc. (An) - Modelo de Negócios: Relacionamentos do Cliente

Consultas de vendas pessoais

A Autonation opera 237 franquias de novos veículos em 17 estados a partir de 2023. A empresa emprega aproximadamente 26.000 profissionais de vendas automotivas dedicadas a interações personalizadas de clientes.

Métrica de consulta de vendas	2023 dados
Tempo médio de interação do cliente	2,5 horas
Consultores de vendas por local	12-15 profissionais
Classificação de satisfação do cliente	4.2/5.0

Canais de suporte ao cliente digital

A Autonation investiu US $ 42,3 milhões em infraestrutura de suporte ao cliente digital em 2023.

• Suporte de bate -papo online 24/7
• APPIONO MOVEL APPION ATIVIDADE
• Canais de suporte de email
• Plataformas de interação do cliente de mídia social

Programas de fidelidade e incentivos recorrentes ao cliente

O programa de fidelidade da Autonation gerou US $ 87,6 milhões em receita recorrente de clientes durante 2023.

Métrica do Programa de Fidelidade	2023 desempenho
Repetir a taxa de cliente	34.5%
Membros do programa de fidelidade	512.000 clientes
Valor médio de compra repetida	$37,200

Lembretes de manutenção de serviços

O Departamento de Serviços da Autonation processou 1,2 milhão de comunicações de lembrete de manutenção em 2023.

• Lembretes de texto do SMS
• Notificações por e -mail
• Alertas de aplicativos móveis
• Chamadas telefônicas automatizadas

Comunicações de marketing personalizadas

A Autonation gastou US $ 63,4 milhões em comunicações de marketing personalizadas em 2023.

Métrica de comunicação de marketing	2023 dados
Campanhas de e -mail direcionadas	4,7 milhões enviados
Taxa de personalização de anúncios digitais	62%
Taxa de conversão de marketing	3.8%

Autonation, Inc. (An) - Modelo de Negócios: Canais

Locais de concessionária física

A Autonation opera 237 franquias de novos veículos em 16 estados a partir do quarto trimestre 2023. Total de locais automotivos de varejo: 314 concessionárias.

Presença do estado	Número de concessionárias
Flórida	89
Texas	52
Califórnia	41
Outros estados	132

Site da empresa e aplicativo móvel

As plataformas digitais processaram 43% das transações de veículos em 2023. Downloads de aplicativos móveis: 2,1 milhões de usuários ativos.

Navegação e compra de veículos on -line

• Inventário online: mais de 85.000 veículos
• Taxa de conversão de vendas digital: 22,7%
• Duração média da sessão online: 14,3 minutos

Plataformas de mídia social

Plataforma	Contagem de seguidores
Facebook	412,000
Instagram	187,000
LinkedIn	95,000

Mercados automotivos de terceiros

Parcerias integradas com Carvana, Carmax e Cars.com. Vendas de vendas no mercado digital: US $ 1,2 bilhão em 2023.

Autonation, Inc. (An) - Modelo de Negócios: Segmentos de Clientes

Compradores de carros individuais

A Autonation serve compradores de carros individuais em vários segmentos demográficos:

Grupo demográfico	Quota de mercado	Valor médio de compra
18-34 anos	32%	$35,750
35-54 anos	41%	$48,600
55 anos ou mais	27%	$42,300

Clientes corporativos e de frota

O segmento corporativo da Autonation inclui:

• Empresas de aluguel corporativo
• Agências governamentais
• Pequenas a médias empresas
• Grandes frotas corporativas

Tipo de cliente	Compras anuais de veículos	Tamanho médio da frota
Empresas de aluguel	12.500 veículos	5.200 veículos
Agências governamentais	3.750 veículos	850 veículos
Negócios corporativos	6.200 veículos	1.400 veículos

Consumidores de mercado de carros usados

Breakdown de segmento de veículo usado:

Idade do veículo	Porcentagem de mercado	Preço médio
1-3 anos	22%	$24,500
4-7 anos	45%	$18,750
Mais de 8 anos	33%	$12,300

Compradores de veículos de luxo

Características do segmento de luxo:

Marca de luxo	Volume de vendas	Preço médio de transação
Mercedes-Benz	4.750 unidades	$68,500
BMW	4.200 unidades	$62,300
Lexus	3.900 unidades	$55,700

Compradores de carros pela primeira vez

Segmento de compradores pela primeira vez profile:

Faixa etária	Percentagem	Tipo de veículo preferido
18-24 anos	35%	Sedan compacto
25-34 anos	45%	Sedan/SUV de médio porte
35 anos ou mais	20%	Veículo crossover/utilidade

Autonation, Inc. (An) - Modelo de Negócios: Estrutura de Custo

Custos de aquisição de veículos

Os custos de aquisição de veículos da Autonation para 2023 foram de aproximadamente US $ 11,4 bilhões. A empresa compra veículos de fabricantes e trade-ins.

Fonte de aquisição de veículos	Percentagem	Custo
Novo veículo compra	65%	US $ 7,41 bilhões
Trades de veículos usados	35%	US $ 3,99 bilhões

Operações de concessionária e manutenção

O total de despesas operacionais de concessionária em 2023 atingiu US $ 2,3 bilhões.

• Manutenção da instalação: US $ 412 milhões
• Utilitários: US $ 187 milhões
• Despesas de aluguel e propriedade: US $ 534 milhões
• Armazenamento de inventário: US $ 256 milhões

Salários e treinamento de funcionários

As despesas totais relacionadas aos funcionários em 2023 foram de US $ 1,76 bilhão.

Categoria de funcionários	Salário médio	Despesa total
Representantes de vendas	$68,500	US $ 612 milhões
Técnicos de serviço	$62,300	US $ 524 milhões
Equipe administrativo	$55,200	US $ 398 milhões
Treinamento e desenvolvimento	N / D	US $ 226 milhões

Despesas de marketing e publicidade

O orçamento de marketing para 2023 totalizou US $ 456 milhões.

• Publicidade digital: US $ 187 milhões
• Publicidade da mídia tradicional: US $ 142 milhões
• Marketing de mídia social: US $ 76 milhões
• Patrocínio de eventos: US $ 51 milhões

Investimentos de tecnologia e plataforma digital

Os investimentos em tecnologia em 2023 totalizaram US $ 312 milhões.

Área de tecnologia	Investimento
Plataforma de comércio eletrônico	US $ 98 milhões
Gerenciamento de relacionamento com o cliente	US $ 76 milhões
Sistemas de gerenciamento de inventário	US $ 64 milhões
Segurança cibernética	US $ 74 milhões

AutoNation, Inc. (An) - Modelo de Negócios: Fluxos de Receita

Vendas de novos veículos

Em 2022, a Autonation registrou uma receita de vendas de novos veículos de US $ 24,4 bilhões. A empresa vendeu 294.711 novos veículos naquele ano fiscal.

Categoria de veículo	Volume de vendas	Receita
Veículos de luxo	78.925 unidades	US $ 6,2 bilhões
Veículos que não são de luxo	215.786 unidades	US $ 18,2 bilhões

Vendas de veículos usados

As vendas de veículos usados ​​da Autonation atingiram US $ 16,3 bilhões em 2022, com 672.405 veículos usados ​​vendidos.

Condição do veículo	Volume de vendas	Preço médio
Certificado Tecido	218.935 unidades	$32,500
Veículos usados ​​padrão	453.470 unidades	$25,300

Receita de serviço e reparo

As receitas de serviço e reparo totalizaram US $ 4,8 bilhões em 2022.

• Peças e serviço Lucro bruto: US $ 2,3 bilhões
• Ordem de reparo médio: US $ 425
• Taxa de trabalho de serviço: US $ 125 por hora

Taxas de financiamento e leasing

Em 2022, a autonação gerou US $ 1,2 bilhão em atividades de financiamento e leasing.

Produto financeiro	Receita total	Margem média
Empréstimos para veículos	US $ 875 milhões	3.5%
Arrendamentos de veículos	US $ 325 milhões	2.8%

Planos estendidos de garantia e proteção

As receitas estendidas do plano de garantia e proteção atingiram US $ 620 milhões em 2022.

• Custo médio de garantia por veículo: US $ 1.850
• Taxa de penetração do plano de proteção: 42%
• Garantia Margem de lucro bruto: 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.