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Easier Credit for Imports Boosts Asbury Auto Profit

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Oct 21 (Reuters) - U.S. auto dealer Asbury Automotive Group Inc's quarterly profit jumped 43 percent as easier credit for customers helped the company sell more imported cars.

Asbury's revenue from the sale of new mid-priced imported cars rose 7 percent, while that from the sale of new luxury cars increased 5 percent.

The two categories accounted for about 85 percent of the company's revenue from new car sales. Asbury gets more than two-third of its total revenue from the sale of new cars.

U.S. auto sales in the third quarter were the best in eight years, with sales in September rising about 9 percent, according to research firm Autodata.

Asbury sells new and used cars made by BMW, Mercedes-Benz, Lexus, Honda Motor Co, Nissan Motor Co Ltd and Toyota Motor Corp, among others.

Asbury's net profit rose to $32.5 million, or $1.08 per share, in the third quarter ended Sept. 30 from $22.7 million, or 73 cents per share, a year earlier.

Revenue rose 8 percent to $1.51 billion.

Analysts on average had expected a profit of $1.07 per share and revenue of $1.51 billion, according to Thomson Reuters I/B/E/S.

Asbury's shares closed at $65.30 on the New York Stock Exchange on Monday. (Reporting by Rohit T.K. and Sagarika Jaisinghani in Bangalore; Editing by Kirti Pandey)