Dealer news: AutoNation raises $700M in first ABS; Alabama Ford stores add public fast chargers

Long-Lewis Automotive's Ford dealerships in Alabama now have ADS-TEC EV fast chargers on site, open for public use. Photo courtesy of ADS-TEC Energy.
AutoNation has become the latest auto retailer to issue an asset-backed securitization.
The company announced it has completed its first ABS through its captive finance company, generating $700 million in funding for its auto loan portfolio at a weighted-average fixed interest rate of 4.90%.
CEO Mike Manley congratulated the AutoNation Finance team for “an excellent outcome.”
“Strong demand enabled us to deliver a great result,” he said. “The final interest rate was competitive — lower than the cost of the debt it will replace — we achieved an initial 98% advance rate and we were able to increase the size of the offering by $200 million, freeing up additional capital to support our capital allocation priorities.”
An analysis by Fitch Ratings released this week suggested automotive securitizations could become more attractive in the current tariff landscape, as ABS performance will benefit from strengthened auto loan and lease recoveries and residual values.
Dealer group deploys public fast chargers at Alabama Ford stores
Long-Lewis Automotive Group is doing its part to promote electric-vehicle adoption.
The dealership group has deployed ChargeBox battery-buffered fast charger platforms from ADS-TEC Energy at its Ford dealerships in Alabama: Long-Lewis Ford of Hoover, Long-Lewis Ford of the River Region in Prattville and Long-Lewis Ford of the Shoals in Tuscumbia.
The chargers are available for public use at the dealership locations, allowing drivers to charge their EVs in minutes at locations previously underserved by EV infrastructure.
ADS-TEC said in a news release its ChargeBox platform’s battery-buffered allows fast charging on existing power-limited grids without the construction or upgrades to high-powered electrical infrastructure required by conventional DC chargers.
Long-Lewis said it’s committed to furthering the Ford Power Promise to make EV ownership easy by supporting customers in the areas that matter to them the most.
“At the Long-Lewis Auto Group, there is nothing more important than our community, including our employees, current customers, future customers and all Alabama residents,” Long-Lewis Ford of the River Region general manager Ryan Ware said. “As EV adoption in our state continues to rise, the right charging technology must be installed to support ultra-fast charging requirements. Our customers cannot wait hours to charge their vehicles, and as some of our dealerships are in more rural locations, we cannot afford any grid strain.
“ADS-TEC Energy’s ChargeBox is the only EV charger that could support our infrastructure needs. We’re excited to offer this ultra-fast EV charging capability at our dealerships and to provide it to the community.”
Long-Lewis, Alabama’s oldest automotive retailer with its first franchise granted by Henry Ford in 1915, operates eight locations in the state that retail more than 1,500 vehicles per month.
ADS-TEC praised Alabama’s progress in electrifying the state’s vehicles, noting the Alabama Department of Commerce has announced more than $2 billion in EV-related investments.
“When we first announced our facility in Alabama, we were determined to make ultra-fast EV charging more accessible to drivers throughout the state,” ADS-TEC North American vice president Jason Powers said. “By deploying our ChargeBox solution, the Long-Lewis Auto Group is bringing the capabilities of ultra-fast EV charging to residents across Alabama, reaching areas that to date have been plagued with little or no charging options.”