AutoNation is an American automotive retailer based in Fort Lauderdale, Florida, which provides new and pre-owned vehicles and associated services in the United States.
[9] Before its acquisition by Republic Industries in 1997, but under the early division brand name "AutoNation", the company was a growing network of used automobile superstores.
[11] On October 24, 2005, the AutoNation building in downtown Fort Lauderdale suffered significant damage due to Hurricane Wilma.
In 2006, Mike Jackson, CEO of AutoNation announced that his company would be reducing orders from the three major vehicle manufacturers as General Motors, Ford and Chrysler in 2007 and altered the company's purchase pattern to include purchasing more imported vehicles as BMW, Mercedes and Lexus, due to anticipated view of further market share losses by US automakers.
This re-branding across the US was supported and approved by the major automotive manufacturers, including GM, Ford, Chrysler, Nissan, Toyota, Honda, VW and Hyundai.
[22] In May 2013, AutoNation partnered with Indy Car Series Champion Ryan-Hunter Reay to support his "Racing for Cancer" charity.
"[24] The previous day, Tesla passed General Motors as the most valuable American automotive manufacturer, measured by its market capitalization.
[25] During the coronavirus pandemic, AutoNation faced criticism after reports in The Washington Post revealed that the company applied for at least $266 Million in SBA Paycheck Protection Program loan under the CARES Act in order to allow at least 7,000 employees who had been furloughed to return to work and received up to $95 Million in funds for its over 300 dealerships located throughout the United States.
[26] SBA Paycheck Protection Program loans were originated by commercial banks, credit unions, and other financial institutions; according to AutoNation's Form 8-K filed with the Securities and Exchange Commission on March 26, the company's "administrative agent" and lender as of the filing date was JPMorgan Chase Bank, N.A.
[30] On April 9, 2021, it was officially announced that AutoNation had reached a naming rights agreement for the stadium of Fort Lauderdale-based Inter Miami CF.