AutoNation(AN) - 2025 Q2 - Quarterly Results

Press Release & Financial Highlights AutoNation's Q2 and YTD 2025 results show strong revenue and adjusted EPS growth, driven by robust segment performance and strategic capital allocation Second Quarter 2025 Highlights AutoNation reported a strong second quarter 2025, with an 8% increase in revenue to $7.0 billion and a 37% rise in Adjusted Diluted EPS Executive Summary AutoNation's Q2 2025 revenue increased 8% to $7.0 billion, with Adjusted EPS rising to $5.46 despite a GAAP EPS decrease - AutoNation reported second quarter 2025 revenue of $7.0 billion, an increase of 8% compared to the same period a year ago[2] - Second quarter 2025 EPS was $2.26 compared to $3.20 a year ago, while Adjusted EPS was $5.46, increasing from $3.99 a year ago[2] CEO Commentary CEO Mike Manley highlighted robust business growth, improved gross profit margins, and a successful $700 million asset securitization - CEO Mike Manley highlighted robust growth across the entire business, including double-digit growth in Customer Financial Services and After-Sales, and improved new vehicle market share[3] - Gross profits improved 40 basis points as a percentage of revenue, indicating strong execution and productivity[3] - The company completed a highly successful $700 million AN Finance asset securitization, enabling an upsizing of the offering, a lowering of the rate, and nearly 100% debt funding[3] Selected GAAP Financial Data (Q2 2025) Q2 2025 GAAP data shows 8% revenue growth to $6,974.4 million, but a 29% decrease in Diluted EPS to $2.26 Q2 2025 Selected GAAP Financial Data | Metric | 2025 (Millions) | 2024 (Millions) | YoY Change | | :-------------------------------- | :-------------- | :-------------- | :--------- | | Revenue | $6,974.4 | $6,480.4 | 8% | | Gross Profit | $1,275.4 | $1,163.1 | 10% | | Operating Income | $217.6 | $275.0 | -21% | | Net Income | $86.4 | $130.2 | -34% | | Diluted EPS | $2.26 | $3.20 | -29% | | Same-store Revenue | $6,904.1 | $6,383.4 | 8% | | Same-store Gross Profit | $1,263.4 | $1,145.8 | 10% | | Same-store New Vehicle Retail Unit Sales | 65,334 | 60,608 | 8% | | Same-store Used Vehicle Retail Unit Sales | 68,398 | 64,364 | 6% | Selected Non-GAAP Financial Data (Q2 2025) Q2 2025 Non-GAAP data reveals a 37% increase in Adjusted Diluted EPS to $5.46, excluding significant non-cash impairments Q2 2025 Selected Non-GAAP Financial Data | Metric | 2025 (Millions) | 2024 (Millions) | YoY Change | | :-------------------- | :-------------- | :-------------- | :--------- | | Adjusted Operating Income | $369.3 | $318.5 | 16% | | Adjusted Net Income | $209.2 | $162.5 | 29% | | Adjusted Diluted EPS | $5.46 | $3.99 | 37% | - 2025 Adjusted Diluted EPS excludes after-tax non-cash goodwill, franchise rights, and other asset impairments of $123 million, or $3.21 per share[8] - 2024 Adjusted Diluted EPS excludes one-time after-tax costs associated with the CDK outage of $32 million, or $0.79 per share[8] Segment Results (Q2 2025) All franchised dealership segments reported increased income and revenue in Q2 2025, with AutoNation Finance also showing positive income - Domestic Segment Income increased 83% to $92 million, with revenue up 10%[11] - Import Segment Income increased 23% to $133 million, with revenue up 6%[11] - Premium Luxury Segment Income increased 27% to $180 million, with revenue up 7%[11] - AutoNation Finance income was $2 million, reflecting higher net interest margin and operating efficiencies, partially offset by higher non-cash credit provisioning[11] Year-to-Date 2025 Highlights For the first six months of 2025, AutoNation's revenue increased 5% to $13.7 billion, with Adjusted Diluted EPS rising 19% to $10.11 Overview (YTD) Year-to-date 2025 revenue reached $13,664.8 million, marking a 5% increase compared to the prior year period - Year-to-date 2025 revenue was $13,664.8 million, an increase of 5% compared to the year-ago period[14] Selected GAAP Financial Data (YTD 2025) YTD 2025 GAAP data shows 5% revenue growth to $13,664.8 million, but a 13% decrease in Diluted EPS to $6.73 YTD 2025 Selected GAAP Financial Data | Metric | 2025 (Millions) | 2024 (Millions) | YoY Change | | :-------------------------------- | :-------------- | :-------------- | :--------- | | Revenue | $13,664.8 | $12,966.1 | 5% | | Gross Profit | $2,495.3 | $2,361.0 | 6% | | Operating Income | $553.6 | $615.3 | -10% | | Net Income | $261.9 | $320.3 | -18% | | Diluted EPS | $6.73 | $7.72 | -13% | | Same-store Revenue | $13,559.1 | $12,764.2 | 6% | | Same-store Gross Profit | $2,477.0 | $2,324.8 | 7% | | Same-store New Vehicle Retail Unit Sales | 127,713 | 118,835 | 7% | | Same-store Used Vehicle Retail Unit Sales | 135,185 | 132,214 | 2% | Selected Non-GAAP Financial Data (YTD 2025) YTD 2025 Non-GAAP data indicates a 19% increase in Adjusted Diluted EPS to $10.11, with strong same-store revenue and gross profit growth YTD 2025 Selected Non-GAAP Financial Data | Metric | 2025 (Millions) | 2024 (Millions) | YoY Change | | :-------------------- | :-------------- | :-------------- | :--------- | | Adjusted Operating Income | $703.7 | $666.1 | 6% | | Adjusted Net Income | $393.4 | $352.6 | 12% | | Adjusted Diluted EPS | $10.11 | $8.50 | 19% | - Same-store Revenue increased 6% to $13.6 billion, primarily reflecting increased new vehicle unit sales and higher average new vehicle selling prices[16] - Same-store Gross Profit increased 7% to $2.5 billion[16] Segment Results (YTD 2025) All franchised dealership segments reported increased income and revenue year-to-date 2025, with AutoNation Finance turning profitable - Domestic Segment Income increased 28% to $161 million, with revenue up 4%[23] - Import Segment Income increased 10% to $260 million, with revenue up 5%[23] - Premium Luxury Segment Income increased 14% to $359 million, with revenue up 7%[23] - AutoNation Finance income was $2 million, compared to a loss of $4 million a year ago, reflecting higher net interest margin and operating efficiencies[23] Capital Allocation, Liquidity, and Leverage AutoNation demonstrated solid capital allocation and maintained strong liquidity, repurchasing $254 million in stock and generating $394 million in adjusted free cash flow Capital Allocation (YTD 2025) For the first half of 2025, AutoNation generated $394 million in adjusted free cash flow and repurchased 1.5 million shares for $254 million - For the first six months ended June 30, 2025, adjusted free cash flow was $394 million, or 100% of adjusted net income[9] - During the first half of 2025, AutoNation repurchased 1.5 million shares of common stock for an aggregate purchase price of $254 million, or approximately $164 per share[10] - AutoNation has more than $607 million of repurchase authorization remaining under its current share repurchase program[10] Liquidity and Debt (Q2 2025) As of June 30, 2025, AutoNation maintained $1.8 billion in liquidity and successfully completed a $700 million asset-backed securitization - As of June 30, 2025, AutoNation had $1.8 billion of liquidity, including $63 million in cash and $1.8 billion of availability under its revolving credit facility[12] - The Company's covenant leverage ratio was 2.33x at quarter end, with $3.8 billion of non-vehicle debt outstanding[12] - During the second quarter of 2025, AutoNation completed its inaugural asset-backed term securitization, generating $700 million in funding for its auto loan portfolio at a weighted-average fixed interest rate of 4.90%[12] Company Information & Disclosures This section provides an overview of AutoNation's business, clarifies non-GAAP measures, outlines forward-looking statement risks, and defines operating segments About AutoNation, Inc. AutoNation is a leading US automotive retailer offering vehicles, financing, parts, and services, actively supporting cancer-related causes through DRV PNK - AutoNation is one of the largest automotive retailers in the United States, offering innovative products and exceptional services[19] - The company provides a wide variety of new and used vehicles, customer financing, parts, and expert maintenance and repair services through a nationwide network of dealerships[19] - Through its DRV PNK initiative, AutoNation has raised over $40 million for cancer-related causes[19] Non-GAAP Financial Measures Disclosure This section clarifies the use of non-GAAP financial measures to enhance transparency, emphasizing they are not a substitute for GAAP results - Non-GAAP financial measures are included to improve the transparency of the Company's disclosure and provide a meaningful presentation of results excluding items not related to ongoing core business operations[21] - Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are provided as required by SEC rules[21] - Non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated and presented in accordance with GAAP[21] Forward-Looking Statements The report contains forward-looking statements subject to various risks and uncertainties that could cause actual results to differ materially from expectations - Statements regarding strategic initiatives, partnerships, investments, shareholder returns, and future business performance are considered forward-looking[22][25] - These statements involve known and unknown risks, uncertainties, and other factors that are difficult to predict and may cause actual results to be materially different[25] - Key risks include economic conditions, ability to implement strategies, gross profit margins, market share, cyber incidents, and changes in automotive laws and regulations[25] Segment Definitions AutoNation's operations are categorized into Domestic, Import, Premium Luxury, and AutoNation Finance segments, based on vehicle types and financial services - Domestic segment comprises stores selling vehicles manufactured by General Motors, Ford, and Stellantis[24] - Import segment primarily includes stores selling vehicles manufactured by Toyota, Honda, Hyundai, Subaru, and Nissan[24] - Premium Luxury segment primarily consists of stores selling vehicles manufactured by Mercedes-Benz, BMW, Lexus, Audi, and Jaguar Land Rover[24] - AutoNation Finance is the captive auto finance company, providing indirect financing to qualified retail customers[24] Unaudited Condensed Consolidated Financials This section presents detailed unaudited financial statements, including income, operating data, segment results, and balance sheet highlights for Q2 and YTD 2025 Statements of Income The unaudited statements of income detail revenue, gross profit, operating income, and net income for Q2 and YTD 2025, noting impairment impacts Condensed Consolidated Statements of Income (Millions, except per share data) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :------------------------ | :------ | :------ | :------- | :------- | | Total Revenue | $6,974.4 | $6,480.4 | $13,664.8 | $12,966.1 | | Total Cost of Sales | $5,699.0 | $5,317.3 | $11,169.5 | $10,605.1 | | Gross Profit | $1,275.4 | $1,163.1 | $2,495.3 | $2,361.0 | | Operating Income | $217.6 | $275.0 | $553.6 | $615.3 | | Net Income | $86.4 | $130.2 | $261.9 | $320.3 | | Diluted EPS | $2.26 | $3.20 | $6.73 | $7.72 | - Goodwill impairment of $65.3 million and franchise rights impairment of $71.7 million were recorded in Q2 and YTD 2025, impacting operating income[27] Supplementary Operating Data This section provides a detailed breakdown of revenue, gross profit, unit sales, and per-vehicle metrics, along with key operating percentages for Q2 and YTD 2025 Revenue and Gross Profit by Category Q2 2025 revenue and gross profit by category show strong growth in finance and insurance, and parts and service, offsetting a slight decline in new vehicle gross profit Q2 2025 Revenue & Gross Profit by Category (Millions) | Category | Revenue (2025) | Revenue (2024) | YoY % Change | Gross Profit (2025) | Gross Profit (2024) | YoY % Change | | :-------------------- | :------------- | :------------- | :----------- | :------------------ | :------------------ | :----------- | | New vehicle | $3,396.3 | $3,122.5 | 8.8% | $183.4 | $190.4 | -3.7% | | Used vehicle | $1,985.0 | $1,911.1 | 3.9% | $125.4 | $111.4 | 12.6% | | Finance and insurance | $367.7 | $324.0 | 13.5% | $367.7 | $324.0 | 13.5% | | Parts and service | $1,221.1 | $1,117.1 | 9.3% | $598.6 | $536.6 | 11.6% | Per Vehicle Data Q2 2025 per vehicle data indicates increased new vehicle revenue and F&I gross profit per vehicle, despite slight declines in new and used vehicle gross profit per vehicle Q2 2025 Per Vehicle Data | Metric | 2025 | 2024 | $ Variance | % Variance | | :-------------------------- | :----- | :----- | :--------- | :--------- | | New Revenue per vehicle | $51,579 | $50,965 | $614 | 1.2% | | Used Revenue per vehicle | $26,457 | $26,617 | $(160) | -0.6% | | New Gross profit per vehicle | $2,785 | $3,108 | $(323) | -10.4% | | Used Gross profit per vehicle | $1,622 | $1,638 | $(16) | -1.0% | | F&I Gross profit per vehicle | $2,712 | $2,556 | $156 | 6.1% | | Total variable operations gross profit per vehicle retailed | $4,899 | $4,904 | $(5) | -0.1% | Operating Percentages Q2 2025 operating percentages show improved SG&A as a percentage of gross profit and shifts in revenue and gross profit mix Q2 2025 Operating Percentages | Metric | 2025 (%) | 2024 (%) | | :-------------------------------------- | :------- | :------- | | Revenue mix: New vehicle | 48.7 | 48.2 | | Revenue mix: Used vehicle | 28.5 | 29.5 | | Gross profit mix: Parts and service | 46.9 | 46.1 | | Gross profit mix: Finance and insurance | 28.8 | 27.9 | | SG&A as a Percentage of Gross Profit | 67.0 | 71.0 | | Operating income as a percentage of total gross profit | 17.1 | 23.6 | Segment Operating Highlights This section details revenue, segment income, and retail unit sales performance for Domestic, Import, and Premium Luxury segments, including new vehicle brand mix Segment Revenue and Income Q2 2025 segment revenue and income show significant growth across all franchised dealership segments, with AutoNation Finance also increasing income Q2 2025 Segment Revenue & Income (Millions) | Segment | Revenue (2025) | Revenue (2024) | YoY % Change | Segment Income (2025) | Segment Income (2024) | YoY % Change | | :-------------- | :------------- | :------------- | :----------- | :-------------------- | :-------------------- | :----------- | | Domestic | $1,920.5 | $1,739.4 | 10.4% | $92.0 | $50.3 | 82.9% | | Import | $2,148.3 | $2,018.8 | 6.4% | $133.4 | $108.2 | 23.3% | | Premium luxury | $2,555.8 | $2,398.4 | 6.6% | $180.1 | $141.9 | 26.9% | | AutoNation Finance | N/A | N/A | N/A | $2.0 | $0.7 | N/A | Retail Unit Sales by Segment Q2 2025 retail unit sales by segment show growth in both new and used vehicle units across Domestic, Import, and Premium Luxury categories Q2 2025 Retail Unit Sales by Segment | Segment | New Vehicle Units (2025) | New Vehicle Units (2024) | YoY % Change | Used Vehicle Units (2025) | Used Vehicle Units (2024) | YoY % Change | | :-------------- | :----------------------- | :----------------------- | :----------- | :------------------------ | :------------------------ | :----------- | | Domestic | 19,354 | 16,583 | 16.7% | 19,752 | 18,734 | 5.4% | | Import | 29,748 | 28,729 | 3.5% | 23,392 | 22,572 | 3.6% | | Premium luxury | 16,745 | 15,956 | 4.9% | 19,016 | 17,769 | 7.0% | Brand Mix - Retail New Vehicle Units Sold Q2 2025 brand mix for retail new vehicle units sold shows shifts in market share across Domestic, Import, and Premium Luxury categories Q2 2025 Brand Mix - Retail New Vehicle Units Sold (%) | Brand Category | 2025 (%) | 2024 (%) | | :--------------- | :------- | :------- | | Domestic total | 29.4 | 27.1 | | Import total | 45.2 | 46.9 | | Premium Luxury total | 25.4 | 26.0 | AutoNation Finance Segment The AutoNation Finance segment reported increased interest margin and income for Q2 and YTD 2025, driven by higher interest income despite increased credit provisioning AutoNation Finance Performance (Millions) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :------------------------------------------ | :------ | :------ | :------- | :------- | | Interest and fee income | $48.6 | $26.5 | $90.5 | $48.3 | | Interest expense | $(17.8) | $(8.7) | $(31.7) | $(15.7) | | Total interest margin | $30.8 | $17.8 | $58.8 | $32.6 | | Provision for credit losses | $(19.2) | $(7.7) | $(38.1) | $(17.9) | | AutoNation Finance income (loss) | $2.0 | $0.7 | $2.1 | $(4.3) | - Year-over-year results reflect higher net interest margin and continued operating efficiencies, partially offset by higher non-cash credit provisioning related to significant loan origination growth[11][23][34] Capital Allocation and Balance Sheet Details This section details capital expenditures, stock repurchases, inventory carrying expense, key balance sheet items, and compliance with credit agreement covenants Capital Expenditures and Stock Repurchases Q2 and YTD 2025 data shows capital expenditures and stock repurchases, with 1.5 million shares repurchased year-to-date for $254 million Capital Allocation (Millions) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :------------------------ | :------ | :------ | :------- | :------- | | Capital expenditures | $79.0 | $87.5 | $154.2 | $181.2 | | Stock repurchases (price) | $29.0 | $311.3 | $253.8 | $350.0 | | Shares repurchased (millions) | 0.2 | 2.0 | 1.5 | 2.2 | New Vehicle Floorplan Assistance and Expense Q2 and YTD 2025 data shows floorplan assistance earned and interest expense, resulting in a reduced net new vehicle inventory carrying expense New Vehicle Floorplan Assistance and Expense (Millions) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :------------------------------------ | :------ | :------ | :------- | :------- | | Floorplan assistance earned | $34.7 | $31.6 | $65.8 | $63.4 | | New vehicle floorplan interest expense | $(43.6) | $(52.3) | $(87.6) | $(98.9) | | Net new vehicle inventory carrying expense | $(8.9) | $(20.7) | $(21.8) | $(35.5) | Balance Sheet Highlights Key balance sheet items as of June 30, 2025, include cash, inventory, auto loans receivable, and debt, along with new and used vehicle days supply Balance Sheet Highlights (Millions) | Metric | June 30, 2025 | Dec 31, 2024 | June 30, 2024 | | :------------------------ | :------------ | :----------- | :------------ | | Cash and cash equivalents | $62.9 | $59.8 | $85.9 | | Inventory | $3,445.6 | $3,360.0 | $3,553.9 | | Auto loans receivable, net | $1,702.4 | $1,057.1 | $709.4 | | Non-recourse debt | $1,464.6 | $826.0 | $488.3 | | Non-vehicle debt | $3,764.6 | $3,762.1 | $4,011.6 | | New days supply | 49 days | 39 days | 67 days | | Used days supply | 39 days | 37 days | 34 days | Key Credit Agreement Covenant Compliance AutoNation maintained strong covenant compliance at quarter-end, with a leverage ratio of 2.33x and an interest coverage ratio of 4.63x - The Company's covenant leverage ratio was 2.33x at quarter end, well below the covenant limit of 3.75x[36] - The interest coverage ratio was 4.63x, exceeding the covenant requirement of greater than or equal to 3.00x[36] Comparable Basis Reconciliations This section provides detailed reconciliations of GAAP to non-GAAP financial measures, adjusting for specific items like impairments and one-time costs Three Months Ended June 30, 2025 Q2 2025 reconciliation details adjustments for impairments, leading to an adjusted operating income of $369.3 million and diluted EPS of $5.46 Q2 2025 Comparable Basis Reconciliation Summary (Millions, except per share data) | Metric | As Reported | Adjustments | Adjusted | | :-------------------- | :---------- | :---------- | :------- | | Operating Income | $217.6 | $151.7 | $369.3 | | Income Before Income Taxes | $138.4 | $141.3 | $279.7 | | Net Income | $86.4 | $122.8 | $209.2 | | Diluted EPS | $2.26 | $3.21 | $5.46 | | SG&A as a Percentage of Gross Profit | 67.0% | N/A | 66.2% | - Adjustments for Q2 2025 include $141.3 million for goodwill, franchise rights, and other asset impairments[38] - Adjusted SG&A as a Percentage of Gross Profit improved to 66.2% from 67.3% in the prior year[38] Six Months Ended June 30, 2025 YTD 2025 reconciliation details adjustments for impairments and equity investment losses, resulting in an adjusted operating income of $703.7 million and diluted EPS of $10.11 YTD 2025 Comparable Basis Reconciliation Summary (Millions, except per share data) | Metric | As Reported | Adjustments | Adjusted | | :-------------------- | :---------- | :---------- | :------- | | Operating Income | $553.6 | $150.1 | $703.7 | | Income Before Income Taxes | $372.4 | $152.8 | $525.2 | | Net Income | $261.9 | $131.5 | $393.4 | | Diluted EPS | $6.73 | $3.38 | $10.11 | | SG&A as a Percentage of Gross Profit | 67.2% | N/A | 66.8% | - Adjustments for YTD 2025 include $141.3 million for goodwill, franchise rights, and other asset impairments, and $11.5 million for net loss on equity investments[40] - Adjusted SG&A as a Percentage of Gross Profit was 66.8%, up from 66.4% in the prior year[40] Free Cash Flow For the first six months of 2025, AutoNation reported adjusted free cash flow of $393.6 million, representing 100% conversion of adjusted net income Free Cash Flow (Six Months Ended June 30, Millions) | Metric | 2025 | 2024 | | :------------------------------------------ | :----- | :----- | | Net cash provided by (used in) operating activities | $(230.3) | $234.9 | | Adjusted cash provided by operating activities | $547.8 | $700.3 | | Purchases of property and equipment | $(154.2) | $(181.2) | | Adjusted free cash flow | $393.6 | $519.1 | | Adjusted free cash flow conversion % | 100% | 147% | Unaudited Same Store Data This section provides unaudited same-store operating highlights, including revenue, gross profit, unit sales, and per-vehicle data, along with operating percentages Same-Store Operating Highlights Q2 2025 same-store operating highlights show an 8.2% increase in total revenue and a 10.3% increase in total gross profit, with growth in new and used vehicle unit sales Same-Store Revenue and Gross Profit by Category Q2 2025 same-store revenue and gross profit by category show strong growth in parts and service, and finance and insurance, contributing to overall increases Q2 2025 Same-Store Revenue & Gross Profit by Category (Millions) | Category | Revenue (2025) | Revenue (2024) | YoY % Change | Gross Profit (2025) | Gross Profit (2024) | YoY % Change | | :-------------------- | :------------- | :------------- | :----------- | :------------------ | :------------------ | :----------- | | New vehicle | $3,372.0 | $3,088.7 | 9.2% | $182.6 | $188.7 | -3.2% | | Used vehicle | $1,953.5 | $1,882.4 | 3.8% | $123.7 | $110.3 | 12.1% | | Finance and insurance | $362.5 | $320.0 | 13.3% | $362.5 | $320.0 | 13.3% | | Parts and service | $1,211.9 | $1,086.7 | 11.5% | $594.4 | $526.2 | 13.0% | | Total revenue | $6,904.1 | $6,383.4 | 8.2% | N/A | N/A | N/A | | Total gross profit | N/A | N/A | N/A | $1,263.4 | $1,145.8 | 10.3% | Same-Store Per Vehicle Data Q2 2025 same-store per vehicle data indicates increased new vehicle revenue and F&I gross profit per vehicle, with slight declines in new and used vehicle gross profit per vehicle Q2 2025 Same-Store Per Vehicle Data | Metric | 2025 | 2024 | $ Variance | % Variance | | :-------------------------- | :----- | :----- | :--------- | :--------- | | New Revenue per vehicle | $51,612 | $50,962 | $650 | 1.3% | | Used Revenue per vehicle | $26,539 | $26,684 | $(145) | -0.5% | | New Gross profit per vehicle | $2,795 | $3,113 | $(318) | -10.2% | | Used Gross profit per vehicle | $1,627 | $1,642 | $(15) | -0.9% | | F&I Gross profit per vehicle | $2,711 | $2,561 | $150 | 5.9% | | Total variable operations gross profit per vehicle retailed | $4,908 | $4,916 | $(8) | -0.2% | Same-Store Operating Percentages Q2 2025 same-store operating percentages show shifts in revenue and gross profit mix, with total gross profit as a percentage of revenue increasing to 18.3% Q2 2025 Same-Store Operating Percentages | Metric | 2025 (%) | 2024 (%) | | :-------------------------------------- | :------- | :------- | | Revenue mix: New vehicle | 48.8 | 48.4 | | Revenue mix: Used vehicle | 28.3 | 29.5 | | Gross profit mix: Parts and service | 47.0 | 45.9 | | Gross profit mix: Finance and insurance | 28.7 | 27.9 | | Total Gross profit as % of revenue | 18.3 | 17.9 |