Used Vehicles Sales Helped Penske Push Q2 Numbers Up

Penske Automotive Group

Used Car News - August 1, 0012

Retail used vehi­cle sales went well for Penske Auto­mo­tive Group, along with new vehi­cles. Rev­enue increased 19.2% to $3.4B and was dri­ven by an increas­ing total retail unit sales of near­ly 21%. Retail used sales fol­lowed new but played a part in the num­bers going up – 24.8% increase in new unit sales and a 16.4% increase in used retail unit sales. It was a strong quar­ter, prof­it wise – aver­age gross prof­it per used unit was $1,972 for an aver­age gross mar­gin of 7.7%.

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