By opening stand-alone used-vehicle stores, AutoNation Inc. joins fellow public retailers Sonic Automotive Inc. and Asbury Automotive Group Inc. in trying to gain a bigger foothold in a lucrative marketplace.
But there’s enough room in the used-vehicle market for everybody, including used giant CarMax Inc., Sonic’s EchoPark and Asbury’s Q auto, AutoNation CEO Mike Jackson said.
“It’s a 40 million [units] a year marketplace,” Jackson said. “The consumer is still dying for a better experience in pre-owned. I think there’s room for their success. I like our strategy better.”