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Penske’s Same-Store Service & Parts Revenue Up 6.6% In Q2

The Penske Automotive Group (PAG) saw its service and parts sales rise 8.1 percent to $391.55 million in the second quarter of 2013. The $29.36-million increase breaks down as a $23.70 million (or 6.6 percent) increase in same-store revenue during the period, coupled with a $5.70-million increase from net dealership acquisitions. The increase in same-store revenue came from …
• A $9.90 million (or 3.8 percent) increase in customer-pay revenue;
• An $11.30 million (or 15.6 percent) rise in warranty revenue;
• A $2.10 million (or 9.4 percent) increase in body shop revenue; and
• A $500,000 (or 9 percent) increase in vehicle preparation revenue.

Service and parts gross profit grew $23.20 million (or 10.9 percent) to $235.20 million. This breaks down as an $18.80 million (or 8.9 percent) increase in same-store gross profit, coupled with a $4.40-million increase from net dealership acquisitions.

Bloomfield Hills, MI-based PAG operates 324 retail automotive franchises, representing 39 different brands, as well as 30 collision repair centers. The company has 172 franchises in 18 states and Puerto Rico, in addition to 152 franchises located outside the United States, primarily in the United Kingdom.

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