Penske Automotive Group posted solid gains in the third quarter of 2015, highlighting a 7.7-percent year-over-year increase in overall used-vehicle retail unit sales worldwide.

The group has maintained that pace all year, with a similar jump – 7.8 percent, to be exact – in overall used retail units sold in the first three quarters of the year compared to the same period in 2014.

Company chairman Roger Penske, referring to overall operations worldwide, expressed satisfaction with his company’s results.

"We are pleased to deliver another record quarter, including double-digit growth in revenues, income from continuing operations and earnings per share," Penske said. "The diversification offered by our business highlights the opportunity we have for continued growth. At current levels, the year-over-year decline in exchange rates begins to subside during the fourth quarter which, coupled with the strong sales environment in both the U.S. and U.K. vehicle markets, and a robust medium and heavy-duty truck market in the U.S.,  we expect will continue to drive our business forward."

Take a look at the charts below to compare how the unit movement listed above compared to the revenue and profit streams created by used vehicles for Penske’s operations worldwide throughout the third quarter and year-to-date.

Penske made a point during his company's third quarter financial results conference call to note that the volatility in currency exchange, especially with the British Pound, played a role in the decreases in gross profit for the company overall.

*Data from earnings release

Penske also said that the company’s overall strategy moving forward is to continue to apply considerable emphasis on improving gross profit.

When asked about the group’s used-supply strategy and thought process when going into the fourth quarter, the company’s chairman summarized the situation in Q3 region-by-region.

“I think if we look at used, it kind of followed the lower new-car premium volume in the Northeast. And I would say that’s the whole Northeast, so we were actually down on units, probably around 500 units, in used in the Northeast,” Penske said. “But gross profit, when you look at it, was up overall about $200 per unit. In the Central (U.S.), we had an increase where we didn’t have that impact on used. From a sales perspective, we were up 700 units and we were down a little bit on our used gross profit, probably around $90. In the West, we were flat on gross profit and really flat on units.

“But overall, what I think we have to do is start early and look at our strategy for inventories on used cars.”

Penske then broke down the used inventory situation by predicting a possible wave of incoming off-lease vehicles.

"I think managing our inventory down is going to be key because there will be a lot of cars coming off lease, and I think residuals will take somewhat of a beating as we get into Q4 and getting into the first quarter, or Q1," Penske said. "So we want to have our inventory balanced properly.”