AutoCanada Inc. posted higher second-quarter revenue and net income Aug. 10, as vehicle sales climbed to record levels and the service business boomed across the company’s portfolio of 83 franchised dealerships and 11 standalone collision centres.
Gross profit was up 23.3 per cent in the company’s Canadian parts, service and collision business in the second quarter, and up 16.4 per cent in the United States.Vehicle sales across the dealership group hit new fresh highs, with 11,257 new vehicles and 17,222 used vehicles sold during the quarter. In Canada, company gross profit per used vehicle rose to $2,320, an increase of 35 per cent from the same period last year. In the United States, the metric jumped 161 per cent to $2,435 per vehicle.
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