BLOOMFIELD HILLS, Mich. -

In looking back at the first half of this year, as well as the second quarter, specifically, Penske Automotive Group had double-digit revenue rises to report, along with significant growth in both new and used sales.

For the second quarter of this year, revenue increased 19.2 percent to $3.4 billion, and for the first half of 2012, revenue increased 18.6 billion to $6.6 billion.

The company noted the revenue surge for Q2 was driven by an increase in total retail unit sales of 20.9 percent.

Breaking it down further, new unit sales increased by 24.8 percent, and used retail unit sales grew by 16.4 percent.

On the other hand, for individual vehicles, the average transaction price per unit fell for both new and used.

The average transaction price for a new unit was $36,959, down 1 percent; and for used, the number came in at $25,666, down 3.1 percent.

Moving along, total same-store retail unit sales increased 12 percent in the second quarter, and same-store retail revenue increased 9.4 percent.

Commenting on the results, chairman Roger Penske said, "The company’s second quarter results reflect strong performance across both the U.S. and International markets.

“We experienced strong unit sales throughout the quarter, particularly through our Toyota, Honda and Lexus dealerships, and we increased our service and parts gross margin by 130 basis points to 58.6 percent. Further, I was particularly pleased that we were able to drive a 230 basis point improvement in selling, general and administrative expenses as a percent of gross profit,” he continued.

Editor’s Note: For a more detailed description of Penske’s Q2 results, stay tuned to Auto Remarketing.