AutoNation's Maroone: "On Acquisition Hunt"

From “considering acquisitions” to “on the hunt” in a month. Great news

Here is the appplicable portion of the interview:

Because of the significant improvements from the financial turmoil that befell the U.S. financial markets last year, and AutoNation’s ability to weather this most recent downturn, the company has begun to ramp up its orders for new cars and trucks …..AutoNation is also “on the acquisition hunt”.

The conditions for opportunity are beginning to outweigh the recent “risk environment” for the company, Mike Maroone concludes, ….consequently, AutoNation will be moving forward.

Mike Maroone on NBC 8-12-09 from http://marccannon.vox.com/

AutoNation has already gobbled up market share where it does business and acquisitions will multiply that effect. Note, this may not translate into dramatically more “metal moved” but will mean better pricing (although one has to expect more than 2008). When you couple that with the cost cuts already enacted, that is a very good recipe for earnings growth….

Disclosure (“none” means no position):Long AN