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Penske Same-Store Service & Parts Revenue Up Only 0.6% In Q2

The Penske Automotive Group saw its service and parts revenue rise $29.16 million, or 8.6 percent, to $368.80 million in the second quarter of 2012. This year-over-year increase largely came from a $27.20-million uptick in revenue from dealership acquisitions. On a same-store basis, Penske’s service and parts revenue rose $2.00 million, or 0.6 percent.

The increase in same-store service and parts revenue was positively influenced by a $3.00-million, or 1.2 percent, increase in customer-pay revenue, as well as a $1.80-million, or 55.2 percent, rise in vehicle preparation revenue. The same-store revenue increase was negatively impacted by a $2.20-million, or 3.3 percent, drop in warranty revenue, in addition to a $600,000, of 2.4 percent, decrease in body shop revenue.

Service and parts gross profit grew 11 percent to $216 million in the quarter — also largely because of dealership acquisitions. On a same-store basis, the company’s service and parts gross profit was up 3.1 percent.

Penske operates 340 retail automotive franchises, representing 41 different brands and 30 collision repair centers.

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