BLOOMFIELD HILLS, Mich. -

Penske Automotive Group announced its earnings results for the first quarter of this year and held its quarterly conference call Tuesday.

The company sold a total of 48,057 used retail units (U.S. and international) in the first quarter, representing a year-over-year increase of 6.7 percent. 

Sharing more overall pre-owned results, Penske's used-vehicle revenue rose 6.8 percent year-over-year, up to roughly $1.28 billion.

Gross profit for used vehicles fell to $84.5 million, a 2.3 percent year-over-year decrease.

Gross profit per used vehicle retailed was down 8.5 percent year-over-year to $1,758. 

Roger Penske, the group’s chairman, commented on the company’s successes as well as the effect of the strengthening U.S. dollar in addition to issues outside of the U.S.

"I am very pleased with the performance of our overall business in the first quarter," Penske said. "Our retail automotive and U.S.-based commercial truck businesses continue to perform very well as our business posted record first quarter unit sales, revenue, income from continuing operations, and earnings per share performance. We look for the strength in these parts of our business to continue. 

“However, in addition to the impact from exchange rates in the quarter, the challenging economic conditions faced by our Australian commercial vehicle distribution business resulted in a year-over-year decline of approximately $0.04 in earnings per share as the Australian heavy-duty truck market declined 14.3% in the first quarter of 2015."

For a complete listing of Penske’s first quarter results, click here.