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

Norfolk Southern and Union Pacific shareholders OK merger. Here’s what’s next.

The proposed mega-railroad company would be headquartered in Omaha, Nebraska, sending anxiety through the company's Atlanta ranks, where Norfolk Southern is based.

Design firm chosen to turn Midtown Atlanta eyesore into high-profile park

The look and feel of a planned public park in Atlanta’s largest high-rise district is soon going to take form.

Atlanta area home prices fell in October with steep declines in some places

Metro Atlanta's median sales prices dropped in October as more inventory is on the market.

The Latest

Credit: Special

Beyond the odometer: What matters most in a used car

Why your car’s safety tech needs maintenance, too

OPINION

Saying goodbye to the Porsche 718 Cayman — for now

Featured

Credit: Bloomberg via Getty Images

Prosecutor takes helm of Georgia case against Trump. But will he move forward?

A veteran Georgia prosecutor will decide the fate of Fulton County District Attorney Fani Willis' election interference case against Donald Trump and his allies.

With some solar power tax breaks expiring, Georgians rush to catch the sun

Georgia solar installers say they’re seeing a surge of customers trying to install rooftop solar systems before federal tax credits go away at the end of the year.

‘Automatic for the People’: Weaver D’s still bonds Athens as era nears end

After feeding everyone from R.E.M. to Brian Kemp, and coining a phrase that went global, Dexter Weaver is preparing to close his storied Athens soul food restaurant.