Risk Factors Update Summary
- New vehicle sales impacted by manufacturers. 88% of new vehicles sold in 2023 are Toyota, Honda, Ford, GM, BMW.
- Strategic initiatives impact on financial results. Significant investments made to build reputation.
- FTC's Combatting Auto Retail Scams Final Rule introduces administrative burdens, increasing costs and potential damages.
- Acquisition of CIG Financial led to consumer auto finance loans origination through AutoNation Finance.
- Change in leverage and interest coverage ratios. Total non-vehicle long-term debt increased to $4 billion.
- Change in ownership. William H. Gates III and ESL Investments own approximately 34.3% of outstanding shares.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=350698&owner=exclude
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