AutoNation Conference Call - Reflections on the Industry
I had a chance to review the AutoNation Conference Call and wanted to share the following excerpts:
Concerning Texas, they remarked that Texas had already been through an economic downturn when Enron collapsed several years ago. The downturn lasted for about 30 months - just like their prediction for the U.S. Economy. Lithia has their Conference Call later this month - it will be interesting to see how the two companies compare. |
Texas is an amazing market. That being said, once the oil dries up, the vehicle market will be soon to follow. Right now, our most profitable Store is in Odessa, TX, where the oil drillers put 250,000 miles on their vehicles and purchase new vehicles every six months.
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