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AutoNation Inc

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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation

AutoNation Grows While Still Able To Return Cash to Shareholders

Business Strategy and Outlook

We believe AutoNation's massive size and economy of scale advantages will allow the company to deliver operating margins often above 4%, and we see upside potential to profits as its AutoNation USA stand-alone used-vehicle stores roll out. There are 16 USA stores as of mid-2023, and in April 2021 the firm announced plans to have over 130 by the end of 2026 (more recent language just says over 130 long term), with some in new U.S. markets.

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