Asbury Reports 15% Rise In Customer-Pay Revenue

The Asbury Automotive Group reported $544.80 million in parts and service revenue for the third quarter of 2022 — an increase of 83.4% compared to a year ago. On a same-store, basis Asbury’s parts and service revenue increased by $35.70 million (or 12.2%) to $329.30 million, attributable to a …
• $29.90 million (15%) rise in customer-pay revenue.
• $5.10 million (11%) uptick in wholesale parts revenue.
• $700,000 (2%) increase in warranty revenue.

Parts and service gross profit, excluding reconditioning and preparation, increased 73.2% to $245.40 million with same-store parts and service gross profit, excluding reconditioning and preparation, up 12.8%. Same-store customer-pay gross profit grew 16%, same-store warranty gross profit increased 3% and same-store wholesale parts gross profit grew 2%.

As of Sept. 30, 2022, Asbury owned and operated 198 new vehicle franchises, representing 31 brands of automobiles at 148 new vehicle dealership locations in 15 states. The company also operated 34 collision centers, seven stand-alone used vehicle stores, one used vehicle wholesale business, one auto auction, and a finance and insurance product provider.

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