(January 16, 2018) FORT LAUDERDALE, Fla. — AutoNation, Inc., America's largest automotive retailer, today announced that it expects a benefit of approximately $41 million in the fourth quarter of 2017, or approximately 45 cents per share, due to the recent tax reform bill and the one-time impact on its deferred tax liability. 

AutoNation also anticipates a benefit of approximately $75 million to $100 million, or approximately 80 cents to $1.10 per share, for the full year 2018, resulting from the decrease in the corporate federal tax rate.

AutoNation will use the savings from tax reform to invest in its future and its employees, through enhancing its benefits programs, including launching an innovative cancer program to assist employees and family members who were recently diagnosed with cancer, and investing in progressive training programs that will allow its associates to better serve its customers and drive their career advancement. 

The company also plans to accelerate its brand extension strategy as well as further expand its Drive Pink initiatives.

AutoNation's chairman, CEO and president, Mike Jackson, said, "We are excited about the pro-growth environment for business in the U.S., which includes the recently signed tax reform bill. As a U.S.-based company, our employees, customers and shareholders will benefit greatly from a reduction in our corporate tax rates."