The Asbury Automotive Group’s parts and service revenue rose by $20 million (or 9.8%) to $224.50 million in the second quarter of 2019, attributable to …
• An $11.70-million (or 8%) increase in customer-pay revenue.
• A $6.70-million (or 19%) rise in warranty revenue.
• A $1.60-million (or 5%) uptick in wholesale parts revenue.
Same-store parts and service revenue increased by $15.70 million (or 7.8%) to $217.50 million, attributable to …
• An $8.60-million (or 6%) increase in customer-pay revenue.
• A $5.70-million (or 16%) rise in warranty revenue.
• A $1.40-million (or 5%) uptick in wholesale parts revenue.
Asbury’s parts and service gross profit rose by $11 million (or 8.5%) to $140.60 million. Excluding reconditioning and preparation, parts and service gross profit was up 10%. Same-store parts and service gross profit increased by $7.90 million (or 6.2%) to $135.80 million. Excluding reconditioning and preparation, same-store parts and service gross profit was up 8%.
Same-store customer-pay gross profit increased 5.3% to $77.20 million. Same-store warranty gross profit rose 18.7% to $21.60 million. Same-store wholesale parts gross profit grew 5.6% to $5.70 million.
One item of interest from Asbury’s quarterly report and conference call: The company’s parts and service business continues to see traffic growth for its digital scheduling tool, with a record 128,000 online service appointments in the second quarter — up 26% from the previous year.
Duluth, GA-based Asbury is one of the largest automotive retailers in the United States. As of June 30, 2019, it owned and operated 105 new vehicle franchises (86 dealership locations) and 24 collision centers in 17 metropolitan markets across nine states.