Asbury pivots its used-car strategy to put more emphasis on vehicle volume

Asbury Automotive Group in its first quarter pivoted its used-vehicle strategy, which had been focused on gross profit, to put more emphasis on volume, said David Hult, the company’s president and CEO.

So when it came to sourcing used vehicles for retail sale in the quarter, Asbury doubled the percentage of vehicles it typically purchases outside of its own structure including trade-ins, from about 10% to 20%, said Hult, during the company’s quarterly earnings call for the three-month period ending March 31.

Though the company makes less money on used vehicles it purchases for retail sale than those it takes on trade, the revised acquisition strategy ...