Asbury’s Used Revenue Contributes to Q4 2012 & Full-Year Success
Asbury Automotive Group announced today its fourth quarter results from 2012, as well as full-year numbers.
Used vehicles were ramping up the dealer group’s revenue as 2012 wrapped up, with used-vehicle retail revenue rising by 5 percent during the last quarter. For Q4 2012, used-vehicle retail revenue came in at $269.3 million, up from $255.3 million during the same period of 2011.
That was just a piece of the total $1.2 billion in revenue for Q4 2012, which marked a 15-percent rise from the same period of 2011.
As for used wholesale revenue, this number came in at $51.6 million, up a significant 28 percent from year-ago period.
Used-vehicle sales were up slightly, as well. For used-vehicle retail units, Asbury sold 13,681 units, up from 13,483 sold during the same period of 2011. This marked a 1-percent increase year-over-year.
Commenting on the overall results, Craig Monaghan, Asbury's president and chief executive officer, said, "We are pleased to announce record fourth-quarter and full-year results. These results demonstrate the benefits of the operating leverage we have built into our business model, which we expect will continue yielding strong results as North American automotive sales continue to recover. |
"We expect the recovery of automotive sales to continue in 2013 due to the increasing average age of vehicles in the U.S., extremely attractive financing rates, and the availability of exciting new products."
As for full-year results, used-vehicle sales and revenue were up in this respect, as well.
Specifically, total used-vehicle retail revenues came in at $1.1 billion, up 8 percent from the 2011 figures.
As for used vehicle wholesale revenue, this number came in just a shade under 2 million, up 7 percent from 2011’s $186.6 million.
Moving along to used-vehicle sales, the dealership group retailed 57,434 pre-owned cars last year, up 6 percent from 54,009 in 2011.
Editors Note: For more information on Asbury’s performance in 2012, see Wednesday's Auto Remarketing Today e-newsletter.