Press Release Details

AutoNation Opens AutoNation USA Colorado Springs to Meet Rising Demand for Pre-Owned Vehicles

May 16, 2023

Personalized transportation services provider plans to meet this need with 130 pre-owned vehicle stores nationwide

COLORADO SPRINGS, COLORADO (May 16, 2023) – AutoNation, Inc. (NYSE:AN), a provider of personalized transportation services and America’s most admired automotive retailer, today announced the opening of AutoNation USA Colorado Springs, underscoring its commitment to Colorado Springs car shoppers by offering more ways to buy and sell pre-owned vehicles, stress-free.

AutoNation USA Colorado Springs joins 19 AutoNation locations in the state including two AutoNation USA stores in Denver and two new vehicle dealerships in Colorado Springs. AutoNation USA Colorado Springs is located at 5120 New Car Drive, where the pre-owned business known as ‘Preferred Pre-Owned’ was previously located. This will be the 16th AutoNation USA location in the U.S.

“AutoNation USA’s focus on Customer excellence is what drives us to ensure that we maintain a favorable reputation, have the widest selection of quality used vehicles available across the network, along with low, no-haggle pricing, competitive financing, and streamlined online inventory tools that make vehicle selection easy,” said Kyler Schulze, Market President at AutoNation. “We look forward to serving Customers throughout Colorado Springs and surrounding areas and being their first choice when buying or selling pre-owned vehicles.”

The company’s successful We’ll Buy Your Car program provides Customers with a competitive, no purchase necessary, same-day cash offer that’s valid for seven days, helping to fuel its share of the used vehicle market while ensuring the most extensive selection available to AutoNation USA Customers.

Since 1996, AutoNation has sold and serviced more than 14 million new and pre-owned vehicles. With nearly 1 million 5-star reviews, AutoNation has the most all-time positive reviews of any automotive dealer group, public or private, according to Reputation, which is a testament to the company’s excellence.

“In addition to being an automotive leader, AutoNation’s Associates are strong proponents of giving back to their communities, including through Drive Pink, our signature mission to help drive out cancer that has raised more than $35 million for national and local philanthropic organizations,” said Lisa Rhodes Ryans, Vice President of Communications at AutoNation. “Giving back is a strong part of our company culture, and we look forward to engaging in ways that are meaningful to the greater Colorado Springs community.”

The first AutoNation USA store opened in 2017, and AutoNation expects to grow its footprint to include more than 130 AutoNation USA stores from coast to coast.

AutoNation USA Colorado Springs is located at 5120 New Car Drive, Colorado Springs 80923. Store hours are Monday through Friday, 9 a.m. to 9 p.m., Saturday 9 a.m. to 8 p.m. Visit AutoNationUSA.com or call AutoNation USA Colorado Springs at (719) 370-8420.

About AutoNation, Inc.

AutoNation, a provider of personalized transportation services, is driven by innovation and transformation. As one of America's most admired companies, AutoNation delivers a peerless Customer experience recognized by data-driven consumer insight leaders, Reputation and J.D. Power. Through its bold leadership and brand affinity, the AutoNation Brand is synonymous with "DRVPNK" and "What Drives You, Drives Us." AutoNation has a singular focus on personalized transportation services that are easy, transparent, and Customer-centric.

Please visit www.autonation.com, investors.autonation.com, and www.twitter.com/AutoNation, where AutoNation discloses additional information about the Company, its business, and its results of operations. Please also visit www.autonationdrive.com, AutoNation's automotive blog, for information regarding the AutoNation community, the automotive industry, and current automotive news and trends.

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DISCLAIMER

Per Reputation, the company, AutoNation has the most all-time positive reviews of any automotive dealer group, public or private. Totals as of September 2022.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "intends," "goals," "targets," "projects," "plans," "believes," "continues," "may," "will," "could," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements regarding our strategic initiatives, partnerships, or investments, including the planned expansion of our AutoNation USA pre-owned vehicle stores and our investments in digital and online capabilities, statements regarding our expectations for the future performance of our business and the automotive retail industry, and other statements that describe our objectives, goals, or plans, are forward-looking statements. Our forward-looking statements reflect our current expectations concerning future results and events, and they involve known and unknown risks, uncertainties, and other factors that are difficult to predict and may cause our actual results, performance, or achievements to be materially different from any future results, performance, and achievements expressed or implied by these statements. These risks, uncertainties, and other factors include, among others: our ability to implement successfully our strategic initiatives, partnerships, and investments, including the planned expansion of our AutoNation USA stores; our ability to identify, acquire, and build out suitable locations in a timely manner; our ability to develop successfully our digital and online capabilities; our ability to maintain and enhance our retail brands and reputation and to attract consumers to our own digital channels; our ability to acquire and integrate successfully new franchises; restrictions imposed by vehicle manufacturers and our ability to obtain manufacturer approval for acquisitions; economic conditions, including changes in unemployment, interest, and/or inflation rates, consumer demand, fuel prices, and tariffs; supply chain disruptions and inventory availability; new and used vehicle margins; our ability to attain planned sales volumes within our expected time frames; our ability to successfully implement and maintain expense controls; the success and financial viability and the incentive and marketing programs of vehicle manufacturers and distributors with which we hold franchises; the response by federal, state, and local governments and other parties to, and the economic impacts of, the COVID-19 pandemic; natural disasters and other adverse weather events; the resolution of legal and administrative proceedings; regulatory factors affecting our business, including fuel economy requirements; the announcement of safety recalls; factors affecting our goodwill and other intangible asset impairment testing; and other factors described in our news releases and filings made under the securities laws, including, among others, our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Forward-looking statements contained in this news release speak only as of the date of this news release, and we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances.