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Tuesday, October 28, 2014

AutoNation stops selling cars with Takata airbags, (NYSE: AN)

AutoNation Inc, the largest U.S. auto retail group, has stopped selling cars equipped with Takata Corp air bags involved in a massive global recall involving more than 16 million vehicles, Chief Executive Mike Jackson said on Tuesday. "We as a company have made the decision not to retail any vehicle that is involved in this recall until it is repaired and the vehicles that do come in for service, we are advising the customer not to put a passenger in front of that air bag until it's repaired," Jackson said in an interview with Reuters.While AutoNation is the largest U.S. automotive dealer group, it currently has fewer than 400 cars equipped with Takata air bags at its 277 vehicle franchises. The vehicles account for between 1 percent and 2 percent of AutoNation's inventory.There have been about 8 million vehicles equipped with Takata air bags that have been recalled in the United States.

AutoNation, Inc. (AutoNation) is an automotive retailer in the United States. Shares of AN traded higher by 5.65% or $2.94/share to $54.93. In the past year, the shares have traded as low as $46.16 and as high as $61.29. On average, 1270790 shares of AN exchange hands on a given day and today's volume is recorded at 1032526.