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1998AnnualReportcover auto nation
1. AutoNation, Inc.
To achieve our mission, w e a focused on:
re
The Opportunity
The U.S. automotive industry, comprised of automotive retail (new Creating Customers fo L fe
ri
W e s e 1 0 p r e t c s o e s t s a t o , e ry
e k 0 e c n u t m r a i f c i n ve
and used vehicle retail, parts and service and vehicle finance) and
t m W e i t n t a t c a d r t i c s o e fo
i e. n e d o t ra t n e a n u t m rs r
automotive rental, accounts for more than $1.3 trillion in annual rev-
a l t e r a t m t ve needs by p ov d n o t t n i g
l hi uooi r iig usadn
enue, making it one of the largest business categories in the nation.
AutoNation, Inc.
customer serv c a d v l e.
i e n a u This commitment to
t e customer will enhance our marke s a e, e nu
h t h r rve e
The category is highly fragmented, marked by excess costs, disgruntled
AutoNation, Inc. | 1998 Annual Report a d e rnns
n a ig.
consumers and no strong national retail brand. As the vehicle retail and
rental categories undergo dramatic change, competitors will strive for Building Businesses
W e will expand our automotive r t i a d r n a
eal n etl
greater operating efficiencies, higher consumer satisfaction and stronger
|
bu i e s s i g owth markes i c e s n m rke
snse n r t, n r a i g a t
brand identity. AutoNation is a leader in driving these improvements
1 9 9 8 A N N U A L R E P O RT
s a e a d r ve e. e w l d t i by r o a i i g
h r n e nu W i l o h s e rg n z n
and is well-positioned to compete in this trillion dollar industry. ragmented opera i n u d r n t o a b
f t o s n e a i n l rand names
a d a h e i g e o o i s o s a e.
n civn cnme f cl
The Company
D eveloping National Brands
AutoNation, Inc. is the largest automotive retailer in the United States W e a e d ve o i g a p r u n t o a b n i
r e lpn owe f l a i n l ra d n
automotive r t i w t AutoNation. W e a e a s
eal ih r lo
and one of the country’s leading providers of vehicle rental services.
bu l i g o t e s r n b n r c g i i n o N t o a
i d n n h t o g ra d e o n t o f a i n l
It’s about lower prices. The Company owns over 380 franchised automotive dealerships in 20
C r R n a a d Alamo Rent-A-Car.I alo o r
a etl n nl f u
states, representing 39 manufacturer brands, and operates or franchises automotive bu i e s s we want our bra d t s a d
snse, ns o tn
frt s, i n a i n v l e a d s rvc W e b l e
o rut n ov t o , a u n e ie. e i ve
45 AutoNation USA used vehicle megastores in 13 states. It also
srn b
t o g rand names are ke d ve o i c e s d
y ri rs f n r a e
owns AutoNation Financial Services, a captive finance company,
It’s about higher standards. r ve e a d e rn n s g ow h
e nu n a i g r t .
and National Car Rental, Alamo Rent-A-Car and CarTemps USA
Earnings Growth
vehicle rental companies.
O r g a i t g n ra e s g i a t s s a n bl a nul
u o l s o e e t i n fic n u t i a e n a
It’s about time.
e rn n s g ow h W e w l a h e t i by g i i g
a ig r t. i l c i ve h s ann
SM
The Mission g e t r m rke s a e,i c e s n s m - t r s l s
r a e a t hr nraig aesoe ae,
r d c n c s s a d m k n t rg t d a q i i i n .
e u i g o t n a i g a ee custos
AutoNation’s mission is to be the leading retailer of automotive
products and services by providing superior service to customers,
Maximizing Shareholder Value
a compelling work environment for employees and a superior return W esrie to maximize r ve
tv e nue and minimize c s s
ot.
This commitment propels earn n s g ow h which
ig r t,
for shareholders.We strive to build shareholder value by creating
we b l e w l d ve l n - e a p e i t o o o r
e i ve i l ri o g t rm p r c a i n f u
customers for life.
saep c
h r rie.
AutoNation, Inc.
Inside Flap 1 2 6 16 20 22 68 70
8
110 SE 6th Street Ye r i R i
a n evew Fnnil
iaca A Letter to The Import n e
ac AutoNation Customers Index to AutoNation, Ic.
n Sa
h reholder
AutoNation
Fort Lauderdale, Florida 33301 and Locations Hglgt
ihihs Sa
h reholders of Brand Rental Group fr L fe
oi Fnnil
iacas Dealerships and Iformation
n
Rti G
e a l roup
Megastore s
954-769-6000
www.AutoNation.com
2. AutoNation, Inc. | Automotive Retail and Rental Locations
86
32
BOARD DIRECTORS
OF
3
1
7 3
19
7
7 4
21
2
1
1
9
10 32
AutoNation, Inc. | 1998 Year in Rev ew 8 17
i 8
20
2 1
3 14 1
1
1
1
3 66
3
14
1 2
Corporate AutoNation Retail Group AutoNation Rental Group 3
26 (et t rgt
lf o ih)
8 1
22 7
22
1
5 3
1
15 51
41 10 Ie e B Rosenfed | Michael G. DeGro t | R c L Burd c
rn . l oe ik . ik
2 9
2 29
7
1
Formation of the
O ver 530,000 Vehicles Sold
C o m p a ny Growth 2
5
3
4 71 3 21
2 11 6
4 Jh J M l | Robert. B n | George D.J
on . e k J row ohnson, J. | . P ry n
r J .B a
26
Nort American Rental Group
h
Earns Fo rtune 500 Listing 28 13 1
1
The AutoNation Retail Group sold over 7 16 1
4
25 73
The North American Rental Group was
Increasing revenue from $9 billion 18
530,000 vehicles in 1998 (286,000 new 81 6
12 4
22 4 13 2
created to oversee and provide shared services
in 1997 to over $16 billion in 1998, 6
and 244,000 used). 4
2
34 1
16
to the National Car Rental and Alamo
AutoNation, Inc. was named the 1
3
82
Rent-A-Car brands. Eventually, all common
Acquisitions
fastest-growing company in America 2
9 19
12 3
3
21
administrative and back-lot functions will be
by Fortune magazine and entered The Group acquired 181 franchised automotive 1
3
2 23
6 H.W ayne Huizenga* RobertJ Brow n
. Rick L. Burdick J J. Melk
ohn
2
3 1 3
consolidated, leading to future cost savings
the 1998 Fortune 500 list at number 1
8
dealerships.The acquired franchises are located 12 2
1
Chairman of the Board President & Chief Executive Officer Partner Chairman of the Board, President
and operating efficiencies. Jeffrey Parell, 11
151.The Company jumped to 83rd in growth markets across the United States. 32 88 13
2
former President of National Car Rental,
in the 1999 Fortune 500 ranking. & Co-Chief Executive Officer B&C Associates, Inc. Akin, Gump, Strauss, Hauer & Feld, L.L.P. & Chief Executive Officer
51 4
18
was chosen President of the North American 39
Rochester Auto Collection (a management consulting and public (a law firm) H2O Plus, L.P.
9
47
Rental Group.
Solid W aste Division Sale 6 13
The Company formed a joint venture with 1
10 relations firm) (a bath and skin product manufacturer
Steven R. Berrard*
41
The Company announced its Ford Motor Company to own and operate and distributor)
Michael G. DeGroote
N ew National Car Rental Co-Chief Executive Officer
plans to sell its solid waste 26
a network of Ford and Lincoln-Mercury 88 J P.Bryan
.
and Alamo Rent-A-Car Presidents 24 Chairman & Chief Executive Officer
division, Republic Services, Inc. dealerships in Rochester, New York. 9 8
Numbers in boxes represent the 46 I
rene B.Rosenfeld
Robert Briggs was appointed President of
The initial public offering of 7 Chairman of the Board Century Business Services, Inc.
Harrs W .Hudson*
i
number of locations in that state
National Car Rental. Karen Beard became
36.1 percent of Republic Services Mile-High Project as of March 31, 1999 Torch Energy Advisors, Inc. (a provider of professional business President
Vice Chairman of the Board
the first female president of a national vehi-
generated $1.4 billion in pro- In Denver, Colorado, 17 franchised auto- (a manager of energy-related services and products) Kraft Foods, Canada
cle rental company when she was promoted
ceeds, which were reinvested in motive dealerships were branded with the institutional holdings) (a manufacturer and distributor of
to President of Alamo Rent-A-Car.
the Company’s core automotive “AutoNation USA” name and began selling National Car Rental and Alamo Rent-A-Car International Locations packaged food and food service products)
George D.Johnson, J
r.
businesses. In March 1999, the vehicles under a one-price, no-haggle sales
Global Odyssey System
Board of Directors voted to sell 1 2 4
Antigua ________ Guadeloupe_____ Peru ___________ President & Chief Executive Officer
process that emphasizes customer service
* Executive Committee Member,
the Company’s remaining shares Committing to information technology 2 1 4
and owner retention initiatives. Customer Aruba _________ Guam _________ Philippines______ Extended Stay America, Inc.
of Republic Services. Board of Directors
for the 21st century, the AutoNation
reaction is very positive. 4 2 10
Australia________ Guatemala ______ Poland _________ (an economy extended stay lodging chain)
Rental Group installed its state-of-the-art 5
11 12 5 3
Austria_________ Holland* _______ Portugal________
Share Repurchase Program Global Odyssey System at each National 1
Drive ’s Mart W orldwide Acquired
r
3 3 2 2
Car Rental location in the U.S. Once the Belgium*_______ Honduras_______ Puerto Rico ____
The Company began to repurchase The Company acquired Driver’s Mart
MANAGEMENT COMMITTEE
system is installed at Alamo Rent-A-Car,
shares of its common stock under 2 3 1
Belize _________ Hungary _______ Reunion _______
Worldwide, the franchisor of eight Driver’s
the two companies will share a common
a $500 million share repurchase 1 2 8
Mart used vehicle stores. The stores subse- Bonaire ________ Indonesia _______ Romania _______
information technology platform, facilitating
program. As of March 31, 1999, quently were rebranded as AutoNation 9 3 1
Ireland _________ Russia _________
British H.W ayne Huizenga H. Scott Barre t
t James J. Donahue,J
r. William E. Lobeck
more sophisticated rental, reservations and
the Company had repurchased 1
USA megastores. Virgin Islands __ 17 4
Israel __________ Saipan _________
fleet management systems.
17.7 million shares. Chairman of the Board Senior Vice President Senior Vice President President
7
Bulgaria ________ 120 1
Italy __________ Singapore_______ & Co-Chief Executive Officer Information Technology Corporate Communications AutoNation Rental Group
AutoNation USA Megastores Opened
312 4
Canada*________
Alamo Rent-A-Car Announces
AutoNation, Inc. 74 1
AutoNation Retail Group Japan __________ Slovakia ________
The Company opened AutoNation USA Leisure Traveler Initiatives
Names New President 4 4
Canary Islands*__ 3 10
megastores in Arizona, California, Georgia, Kenya__________ Slovenia________ Steven R. Berrard James O.Cole Robert F.D wors Michael E. Maroone
380
Alamo Rent-A-Car initiated major changes Franchised Dealerships
John H. Costello joined the 7
Colombia ______
Illinois and Texas, ending the year with 14 110 87
Korea__________ Spain __________ Co-Chief Executive Officer Senior Vice President, Senior Vice President President
to better serve its leisure traveler base.
Company as its President. His 3 18
34 Company-owned and eight franchised Costa Rica______ 1 2 4 General Counsel & Secretary Corporate Real Estate Services AutoNation Retail Group
Latvia__________ St. Maarten_____
Among the initiatives are an increase in the
appointment is a key part of locations. Three more locations opened in 5
45 Curacao________
AutoNation USA Megastores 1 11
number of location-specific vehicles (e.g.,
AutoNation, Inc.’s strategy to Lebanon _______ Sweden ________ Harrs W .Hudson
i
early 1999. 9
Cyprus_________
convertibles in Florida) and more mini-vans
build a compelling national retail 9 3 3 J f rey G. D avs
ef i Thomas W .H awkins
Malaysia________ Switzerland*_____ Vice Chairman of the Board
and sport utility vehicles at all locations, 2
brand. He has over 20 years of Czech Republic _
E-commerce Initiative Launched 3 5 4 Vice President Senior Vice President
Malta __________ Thailand _______
AutoNation Rental Group (U..
S)
child play areas, on-site changing rooms and
consumer products and services 3
Denmark _______
Websites were established for each of the Operations Planning Corporate Development
2 6
Martinique______ Tunisia_________ John H. Costello
sundry sales stations.
experience with companies such 469
Company’s franchised dealerships and National Car Rental Dominican 8 7
Mauritius_______
as Procter & Gamble and PepsiCo. Turkey_________ President
7
Republic _____
the AutoNation USA megastore chain. The CarTemps USA Robert E Dees, J
. r. Michael S. Karsner
Most recently, he was Senior 40 40 110 109
Mexico ________ United Kingdom*
2
Company began selling vehicles on-line Estonia_________
Executive Vice President and The CarTemps USA brand was created by 99 Senior Vice President Senior Vice President
12 1
Morocco _______
via the Internet, generating over $100 mil- Alamo Rent-A-Car U.S.Virgin Islands
270 37
France* ________
General Manager of Marketing consolidating three previously acquired com- Human Resources & Chief Financial Officer
10 1
lion in revenue during the fourth quarter. New Zealand ___ Yugoslavia ______
2
at Sears, Roebuck and Co., where French Guyana __
panies. CarTemps USA ranks second in the
7
Panama ________
he helped change Sears’ image, local/replacement sector of the rental vehicle 140 134
395
Germany* ______
CarTemps USA 1
increase store traffic and drive Paraguay _______
industry and has locations in 40 states. 33 12
Greece_________
incremental growth. Designed and produced by Collateral Commu i a i n , Ic./A l n a
nctos n tat
71
* In these countries National Car Rental and Alamo Rent-A-Car share certain facilities.