DETROIT -- Sales at UnitedAuto Group Inc. rose 20 percent in the second quarter, due in part to stronger service and parts revenue, the Bloomfield-Hills, Mich.-based company said Tuesday.
During the quarter, service and parts revenue increased 22 percent to $281 million, UnitedAuto said.
We are pleased with the revenue growth and margin expansion we realized across each of our product lines during the second quarter, UnitedAuto Chairman Roger Penske said in a statement. We continue to achieve impressive growth in our higher-margin service and parts departments due, in part, to our capital-investment program.
For the quarter ending June 30, UnitedAuto reported net income of $33.2 million or 71 cents a share on total sales of $2.7 billion. For the same period last year, the auto dealership company reported net income of $33 million or 71 cents on total sales of $2.3 billion.
For the first six months of the year, UnitedAuto reported net income of $56.1 million or $1.19 a share on sales of $5.2 billion. For the same period last year, the company reported $53.2 million or $1.19 on sales of $4.5 billion.