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Asbury’s Q2 Parts & Service Gross Margin Hit 61.3%

The Asbury Automotive Group (Duluth, GA) saw its parts and service revenue rise 8.8 percent to $153.90 million in the second quarter of 2013. Management attributed the $12.50-million increase to a $5.60 million (or 6 percent) increase in same-store customer-pay revenue, a $3.40 million (or 17 percent) increase in same-store warranty revenue and $2.20 million from acquisitions.

Parts and service gross profit rose 13.9 percent to $94.30 million in the quarter, while unit gross margin increased 270 basis points to 61.3 percent. The year-over-year gross profit improvement was driven by a 26-percent rise in reconditioning work, a 6-percent bump in customer-pay and a 26-percent increase in warranty work.

Asbury operates 97 franchises (76 dealership locations) in 18 metropolitan markets within 10 states, in addition to 23 collision repair centers.

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