Asbury revenue surges on new, used car sales

The ongoing recovery in the auto industry helped revenue surge 17 percent in the third quarter for Duluth-based Asbury Automotive Group.

The company, the nation’s fifth-largest public car dealership franchise, said total revenue was $1.4 billion as revenue from new car sales jumped 13 percent and 33 percent from used car sales.

“The future looks bright as auto sales continue their four year recovery, delivering record cash flow for reinvesting in continued growth,” Craig Monaghan, Asbury’s President and Chief Executive Officer, said in a statement.

Profit was $22.7 million in the quarter or 73 cents a share. That compared to $20.7 million in profit during the same period a year ago or 66 cents a share.

About the Author

Have you thought about how AI will change cybersecurity? You should.

Some Atlantans and companies are dabbling in AI, while others have fully embraced it. But with any fast-changing technology promising opportunity, there’s a dark side.

6 ways AI can upgrade your holiday shopping this season

Shoppers are turning to AI tools like ChatGPT, Gemini, Claude and Perplexity to research products, compare prices and more.

Hyundai suppliers fined after forklift death at Georgia EV factory site

Three companies affiliated with Hyundai’s Metaplant campus near Savannah have been fined for safety violations that allegedly contributed to a worker’s gruesome death.

The Latest

Credit: TNS

In the market for a luxury vehicle? You might reconsider Lincoln.

Beyond the odometer: What matters most in a used car

Why your car’s safety tech needs maintenance, too

Featured

Credit: Phil Skinner / Staff

Atlanta antique appraiser made $20M selling fakes, lawsuit says

An Atlanta art and antique appraiser is being sued by a Florida multimillionaire, who says he spent about $20 million on thousands of fake works.

How an ex-Texan and a university helped change the face of a Georgia city

Mercer University President Bill Underwood is stepping down after two decades at the helm. He's credited with boosting enrollment, resurrecting football and reshaping Macon.

Thanksgiving to bring chilly, dry, overall delightful weather to metro Atlanta

A big drop in temperatures is coming overnight Wednesday, so go ahead and pull out those flannels and blankets.