They may have faced similarly challenging environments in the second quarter, but the six publicly traded dealership groups had earnings results that “varied wildly,” according to the Q2 2026 Public Auto Retailer Results analysis from The Presidio Group.

And while the report delves into the wide spectrum of operational results, “one of the clearest examples of divergence” was in the used-car department, Presidio said.

Overall, the group of six public auto retailers reported an average of $1,846 in U.S-adjusted same-store gross profit per used vehicle, down 0.1% year-over-year, Presidio said. However, used-car profitability was up sequentially for the group for the second straight quarter.

“The performance echoes stabilization patterns emerging in the broader Presidio-NCM Average Dealership Performance Benchmark dataset,” the company said in the report. “While vehicle margins remain far below the highs of 2021 and 2022, recent sequential stability suggests the sharpest phase of deterioration may be over.

“Used vehicles offered one of the clearest examples of divergence in the quarter among the publics.”

Presidio gives the example of Lithia, where same-store gross profits per unit came in at $339 in Q2, a 20% rise from the first quarter

The report shares this quote from Lithia CEO Bryan DeBoer from the retailer’s earnings call, “In used vehicles, our profitability strategy is delivering and a real testament to our ecosystem, AI and people all working closely together.”

Presidio also noted the performance at Asbury, where used-car sales fell, but profits on those cars climbed.

As Auto Remarketing reported, Asbury generated $1.094 billion in retail used-vehicle revenue during the quarter, down 3% year-over-year. For the first half, retail used-car revenue of $2.154 billion was down 2%.

Asbury retailed 33,098 used units during the quarter, which was a 9% decline, and has moved 66,300 retail used through six months of the year, down 7%.

Asbury pulled in $2,002 in average gross profits on each used car retailed during Q2, a 16% increase. Gross profits were also up 16% for the first half at $1,924.

Used retail gross margins climbed 54 basis points in Q2, coming in at 6.1%. For the first half, they were up 56 basis points at 5.9%.

In its report, Presidio noted, “CEO Dan Clara noted a 5% sequential gain in per-vehicle profit and said Asbury in May began prioritizing used volume while maintaining healthy per-vehicle profitability. He said he expected used-vehicle volume gains to show up as Asbury moves into 2026’s fourth quarter.”

Meanwhile, Group 1 Automotive’s total used-vehicle gross profit dollars in the U.S. were down 18% during Q2, Presidio said, noting the challenges the retailer’s leadership expressed during its earnings call.

“CEO Daryl Kenningham said the company started the quarter with just 26 days of used-vehicle supply and chose not to aggressively replenish that stock through auction purchases, citing the need to protect profitability ahead of seasonal used-vehicle depreciation,” Presidio said.

“New and used volume in the quarter also were affected by what Kenningham called a ‘short-term disruption’ from the company’s transition to the Group 1 corporate name across its dealerships, replacing regional brand names.”

Over at Sonic Automotive, the retailer posted an all-time quarterly gross profit record in the second quarter, thanks largely to gains in the retailer’s diversified operating segments.

That includes its EchoPark Automotive used-car stores, where revenues climbed 15% year-over-year and total gross profits reached a Q2 record, as reported in this Auto Remarketing story.

AutoNation had some solid wins in its used-car operations during the second quarter, including a “healthy” supply of pre-owned units within the dealer group, stable profitability and expectations for off-lease growth in the second half.

During an earnings presentation and as reported here, AutoNation CEO Mike Manley said the retailer continues to post strong sales of used vehicles above $40,000, but was challenged by lower numbers of more affordable used vehicles.

“Our volume was slightly impacted by lower mix of vehicles priced below $20,000 than we would like. And we continue to work to improve our accessibility to vehicles priced in this range,” Manley said. “Used-vehicle profitability remained stable at approximately $1,600 per unit. Total gross margin was just under 18% of revenue for the quarter, which represents consistent top-tier performance for the sector.”

Chief financial officer Tom Szlosek noted tightness among more affordable units, but also emphasized strong executive among the AutoNation team.

“Used-vehicle supply remains tight for lower-priced units and the team executed well, balancing sourcing, unit volumes, and overall profitability. Used retail unit sales were lower year over year, but mix remained favorable with units priced above $40,000, up 10%, driving an 8% increase in revenue per unit,” Szlosek said during the call.

“The unit profitability in this category is more than double that for the rest of our used business. Used-vehicle gross profit was $1,582 in the second quarter compared with $1,622 in the prior year with unit profitability remaining stable over the last year,” he said. “Our vehicle supply remains healthy with approximately 90% of used vehicles internally sourced and we expect the off-lease supply to accelerate meaningfully in the second half.”

Presidio’s full report can be found here: Q2 2026 Public Dealership Group Trends – The Presidio Group

Auto Remarketing’s reporting on the individual dealer groups used-car results can be found below:

Average used-car gross profits rise 16% at Asbury

AutoNation team ‘executed well’ in used-car ops during Q2

How Group 1’s used-car operations fared in Q2

Penske’s used-car sales climb 4% in Q2, used revenues up more than 9%

Lithia drives used-car gross profit per unit 20% higher from Q1

EchoPark used-car stores help drive records for Sonic in Q2