AutoNation captive finance arm’s try narrows

BE desk

“The progress made to date has now put us in a position to expand and accelerate the integration across more of our dealerships and markets,” Butler advised Automobile Information in a observation. “To facilitate this, we are increasingly focusing AutoNation Finance’s resources on our stores. This was the notification to our independent dealers and is consistent with the intent of the acquisition a year ago.”

AutoNation, based totally in Citadel Lauderdale, Fla., stressed out in its letter to sellers, alternatively, that it might honor “all valid issued approvals before the expiration dates listed on each.”

As smartly, sellers’ representations and warranties in AutoNation Finance/CIG’s Broker Promise will proceed for all assurances it bought from sellers, the corporate mentioned.

AutoNation purchased CIG Monetary in October 2022 for $85 million.

AutoNation ranks Disagree. 2 on Automobile Information‘ most up-to-date listing of the lead 150 dealership teams based totally within the U.S., with retail gross sales of 229,971 fresh cars in 2022.

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