Luxury isn’t dead, AutoNation acquires three luxury dealerships in San Francisco Bay Area

AutoNation, Inc. (NYSE: AN) acquired three luxury dealerships in Fremont, Calif., effective June 22, 2026, according to a press release from the company.

The three stores — Audi Fremont, Mercedes-Benz of Fremont, and Porsche Fremont — together represent approximately $400 million in annual revenue and about 4,800 new and used vehicle sales per year.

The acquisition brings AutoNation’s California total to 46 locations, including 21 premium luxury stores. Nationwide, the company now operates 25 Mercedes-Benz, 11 Audi, and 8 Porsche stores.

Chief Executive Officer Mike Manley said in a statement: “Over the past 12 months, including our Baltimore, Chicago, and Atlanta area acquisitions, we have added approximately $1 billion in annual revenue, enhancing our scale, supporting long-term growth, and positioning us to deliver attractive returns for shareholders.”

AutoNation also reported that it has spent approximately $450 million year-to-date to repurchase more than 2.2 million shares, reducing shares outstanding by more than 6%.