EDMONTON, Alberta — Though much softer than the year-ago period, AutoCanada still pulled in more than $3 million in net earnings during the second quarter. It also enjoyed a revenue lift of more than 20 percent.

These were in the midst of a new-vehicle retail market in Canada that continued to improve, said the company's chief executive officer Pat Priestner.

Net earnings were $3.6 million, down 23.2 percent from the prior-year period. Revenue came in at $244.3 million, which marked a 20.8-percent gain from the year-ago period.

AutoCanada also saw a 19.4-percent year-over-year uptick in same-store revenue, which totaled $216.4 million.

Used-vehicle revenue was at $56.1 million, compared with $55.1 million in the prior-year period. New-vehicle revenue reached $146.7 million, up from $108.2 million in the second quarter of 2009.

Parts, service and collision repair revenue was at $28.6 million, versus $27.3 million the prior year. F&I and other income totaled just under $13 million, up from $11.7 million.

"The Canadian automotive retail market continues to improve from 2009 levels with respect to new-vehicle sales. Strong competition among OEM's has created what is truly a 'buyer's market' as a result of large customer incentives and rebates being offered by manufacturers," Priestner shared.

"The incentives and rebates being offered have attracted many customers into dealer showrooms the past six months and have also made buying a new vehicle in Canada more affordable to the average customer," he added. "We continue to focus on growing our market share in key markets and improving the sales experience for our customers in order to build and maintain long-term relationships."

Priestner would also touch on the company's deal to provide air travel incentives to its customers.  

"During the second quarter, we are pleased to have signed an exclusivity agreement which enables us to provide Air Miles Reward Miles to our customers. This customer reward program provides us with a competitive edge and should have a positive impact on customer loyalty," he continued.