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Asbury’s Parts & Service Revenue Rose 2.9% In Q4

The Asbury Automotive Group saw its parts and service gross profit climb 6.3 percent to $82.20 million in the fourth quarter of 2012 as segment revenue increased 2.9 percent to $141.40 million. Same-store parts and service revenue increased 2.3 percent to $140.60 million.

Parts and service gross margin rose 190 basis points to 58.2 percent. The year-over-year gross profit improvement was driven primarily by an 11-percent increase in reconditioning work, as well as a 5-percent rise in customer-pay. Wholesale parts gross profit fell 2 percent over the final three months of 2012.

Looking ahead, management believes that Asbury’s parts and service business will see its revenue increase in the mid-single-digit range, while maintaining current margins.

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