Leading Auto Retailer and #1 General Distributor Group Completes Acquisition of RepairSmith, According to Reputation
Acquisition accelerates commitment to become the nation’s most comprehensive transportation solutions provider
Fort Lauderdale, Florida, January 26, 2023 /PR Newswire/ — AutoNation, Inc. (NYSE: AN)America’s most admired auto retailer, announced today that it has completed the acquisition of RepairSmith, a full-service mobile solution for auto repair and maintenance. Los Angeles, California It has significant operational bases in the southern and western United States.
Acquisition of RepairSmith represents significant after-sales business opportunities, including leveraging alternative channels to serve AutoNation’s existing customer base and referrals to additional vehicle owners who have purchased vehicles outside of the AutoNation dealer network produces RepairSmith will act as a realignment and internal service resource to expedite AutoNation’s frontline readiness and expedite vehicle delivery to customers.
Mike Manley, CEO of AutoNation, said: RepairSmith adds convenient customer-centric repair and service options to our customers, further increasing our adoption and loyalty. “
Manley added: “The acquisition of RepairSmith will accelerate AutoNation’s ability to capture market share in the non-franchise aftermarket. They now have a mobile service solution backed by one of the nation’s most respected and admired automotive retail groups. united states of america Second-hand Business – You can now offer your customers after-sales service that other competitors cannot provide. And finally, bringing all the weight and scale of the AutoNation business to his RepairSmith to accelerate its growth and success. “
“We are excited to embark on the journey of providing convenient auto repair with AutoNation. Our shared vision of improving the lives of people and their families is our collective vision of innovation and transformation. It provides a strong foundation that embodies the spirit of the future.I am very proud of everything we have built at RepairSmith.As we move together towards a brighter future, many more We look forward to unlocking the value.” Joel MilneRepairSmith CEO.
AutoNation has appointed the following to foster innovation and operational excellence: christian driver As the president of after-sales. Mr. Treiber will join his team of executives at AutoNation and will lead his team in aftersales. The purpose of this team is to improve the performance of after-sales operations through continuous development and execution of strategic initiatives. As part of his duties, Mr. Treiber will also be responsible for integrating the RepairSmith business into his AutoNation. He will work with Mr. Milne and his leadership team to continue the significant growth and geographic reach of RepairSmith’s mobile repair and maintenance business. This responsibility includes developing and leveraging his RepairSmith’s unique capabilities to work directly with AutoNation to provide the most customer-focused and convenient after-sales service in the standalone used car market. united states of america head office.
About Autonation
AutoNation, a provider of personalized transportation services, is driven by innovation and transformation. As one of America’s most admired companies, AutoNation delivers an unparalleled customer experience recognized by data-driven consumer insights leaders Reputation and JD Power. With its bold leadership and brand affinity, the AutoNation brand has become synonymous with ‘DRVPNK’ and ‘What Drives You, Drives Us’. AutoNation aims to be the nation’s most comprehensive transportation solutions provider, offering easy, transparent and customer-centric service.
www.autonation.com, investors.autonation.com, and www.twitter.com/AutoNationAutoNation hereby discloses additional information about the company, its business and its operating results. For information about the AutoNation community, the automotive industry, and current automotive news and trends, please also visit www.autonationdrive.com, AutoNation’s automotive blog.
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 considered, forward-looking statements. “expect”, “expect”, “intend”, “goal”, “goal”, “project”, “plan”, “believe”, “continue”, “may”, “will” Words such as “,” “may,” “and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements regarding strategic initiatives, partnerships or investments, including AutoNation’s expansion plans united states of america Statements regarding used car dealerships, RepairSmith acquisitions, investments in digital and online capabilities, our expectations for the future performance of our business and the automotive retail industry, and other statements describing our purpose, goals, or plans , are forward-looking statements. Our forward-looking statements reflect our current expectations of future results and events and involve known and unknown risks, uncertainties and other factors that are difficult to predict and may affect our actual The results, performance or achievements of any future results, performance and achievements expressed or implied by these statements; These risks, uncertainties, and other factors include, among others: united states of america Acquisition of stores and RepairSmith. our ability to identify, acquire, and build suitable locations in a timely manner; Ability to successfully develop digital and online capabilities. Ability to maintain and enhance retail brands and reputations and attract consumers to unique digital channels. our ability to successfully acquire and integrate new franchises; restrictions imposed by automakers 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 car margins. our ability to achieve planned sales volumes within the expected timeframe; our ability to properly implement and maintain expense control; the success and economic viability of our franchised vehicle manufacturers and distributors, as well as incentives and marketing programs; Response to his COVID-19 pandemic by federal, state, local and other stakeholders and its economic impact. Natural disasters or other adverse weather conditions. resolution of legal and administrative proceedings; regulatory factors affecting our business, including fuel economy requirements; Announcing a safety recall. Factors Affecting Our Goodwill and Other Intangible Assets Impairment Testing. and other factors described in news releases and filings made under the Securities Act. This includes, among others, annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. The 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. Hmm.
Source AutoNation, Inc.
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