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October 31, 2017 - Industry News

Asbury: Q3 Revenue, Gross Profit Down Due to Hurricanes

Total revenue and gross profit were down 5% and 2% from a year ago, respectively, with Hurricane Irma having a significant impact on sales in the group’s core Florida and Georgia markets. F&I was a bright spot, with total gross profit up 4% and the group’s per-copy average increasing by $142 from a year ago to $1,547.

Tags: Asbury Automotive, F&I profit, Hurricane Harvey, Hurricane Irma, new-vehicle sales, public dealer, used-vehicle sales

May 1, 2014 - Industry News

Strong March Helps Group 1 Rebound From Harsh Weather

Like other public groups, Group 1’s business was hampered in the first quarter by extreme weather conditions, losing about 9% of its total available selling days through Feb. 16. Luckily, March turned out to be a strong sales month for the group.

Tags: F&I sales, Group 1 Automotive, public dealer, Quarterly Earnings

April 24, 2014 - Industry News

Asbury Posts Record First Quarter

The group reported during it quarterly conference call that earnings per share were up 34% from the year-ago quarter, an all-time record for the group. On the same day, Executive Vice President and COO Michael Kearney announced his retirement.

Tags: Asbury Automotive, F&I, profit, public dealer, Quarterly Earnings

February 11, 2014 - Industry News

Dealership Acquisition Activity ‘Robust,’ The Banks Report Shows

Public dealer groups continue to exercise discipline in terms of their acquisition strategy, but The Banks Report shows that acquisition activity was robust overall last year — particularly during the opening and closing months of 2013.

Tags: Acquisition, Chrysler, Franchised Dealerships, Jeep, public dealer, Study

August 21, 2012 - Industry News

Auto Dealer M&A Activity Declines

A new report indicates that merger-and-acquisition activity among public dealer groups dropped 55 percent in the first half of 2012.

Tags: M&A, merger and acquisition, Presidio Group, Presidio Merchant Partners, Profitability, public dealer

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