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AutoNation's big bet
AutoNation's $500 million-plus brand extension strategy includes:
- AutoNation USA used-vehicle stores: 5 to open in 2017, starting with Houston in the spring; 20 more are in development.
- No-haggle pricing on used vehicles: Covers AutoNation USA and franchised dealerships; all franchised stores will adopt one-price by mid-2017.
- AutoNation-branded collision centers: Company to renovate its 69 centers and open or acquire at least 18 more within 2 years.
- AutoNation-branded maintenance, repair parts: Batteries are on sale; other items will follow.
- AutoNation-branded accessories: The first items, including floor mats, went on sale in October; other items will follow.
- Auctions: AutoNation-branded auctions to grow to 5 sites within 2 years, from 1 today, with each selling more than 20,000 vehicles annually.
By launching a network of used-car stores under the AutoNation USA name, the country's largest new-vehicle retailer is coming full circle. But AutoNation Inc. CEO Mike Jackson, who pulled the plug on the company's last used-car chain, says the opportunity is ripe and the company has the right strategy this time.
