AutoNation Authorizes Additional $250 Million for Share Repurchase

FORT LAUDERDALE, FL--March 23, 2012: AutoNation, Inc. , America's largest automotive retailer, announced today that its Board of Directors has authorized the repurchase of up to an additional $250 million of the Company's common stock. Prior to the increased authorization, AutoNation had utilized substantially all of the amounts previously authorized by its Board of Directors under its share repurchase program. AutoNation has approximately 124.6 million shares outstanding as of March 23, 2012.