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Autonation Reports Sales Drop In August

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(Source: CBS)

(Source: CBS)

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FORT LAUDERDALE (CBS4) – Ft. Lauderdale based AutoNation Inc. said Tuesday its new vehicle sales fell 3 percent in August.

The largest U.S. dealership chain said it sold 18,121 vehicles last month. The total included a 7 percent jump in domestic sales and a 3 percent increase in premium luxury sales, but a 10 percent decline in import vehicle sales.

Overall, U.S. auto sales rose 7.5 percent in August. But Toyota and Honda both posted double-digit declines for the month, as they continued to struggle to fill dealer lots in the wake of supply shortages stemming from the March earthquake and tsunami in Japan.

AutoNation operates more than 250 dealerships in 15 states.

(TM and © Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2010 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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