United Auto Group Inc. posts third quarter earnings of $2.1 billion, a 37% increase over third quarter 2001 earnings.

Income in the quarter was up 70% to $22.6 million and earnings per share from continuing operations rose 46% to $0.54 a share.

For the first nine months of the year, revenues were up 28% to $5.6 billion and income and earnings per share from continuing operations increased 85% and 51% to $60.9 million and $1.48 per share, respectively.

“I am delighted with the performance of United Auto during the third quarter,” says UAG Chairman Roger Penske. “Our business continues to demonstrate its resiliency because of its diverse revenue streams and our variable cost structure. We also continue to see the benefits of our facility investment program, which is paying dividends as reflected by our industry-leading same-store sales growth.”

UAG operates 126 new and used car dealer franchises in the U.S. and 71 franchises overseas, primarily in the U.K.