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The strong performance of Sytner, the UK’s second largest dealer group, boosted the results of parent company Penske Automotive in the third quarter.
The giant US car retailer recorded a year-on-year increase in income of 17.4 per cent to $42.4m (£21.2m), with Sytner driving up business in its international division.
Year-on-year sales grew by 21.9 per cent in Penske’s overseas markets, which are predominantly in Britain.
Sales rise
Including the impact of exchange rates, new vehicle sales rose 5.3 per cent in the overseas business, used vehicle sales rose 7.5 per cent and service and parts sales rose 4.5 per cent.
Overall revenues for Penske Automotive increased 14.6 per cent to $3.4bn.
Gerard Nieuwenhuys, Sytner managing director, said: “Penske Automotive’s quarter three results are a vindication of the group’s strategy in all of the markets in which it operates.
“Specifically in the UK our management team rose to the many challenges presented by the market to deliver outstanding growth and returns for our shareholders.”