AutoNation 2015 Annual Report Download - page 38
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Table of Contents
Parts & Service
Parts and service revenue is primarily derived from vehicle repairs paid directly by the customers or via reimbursement from manufacturers and others
under warranty programs, as well as from wholesale parts sales and our collision businesses.
Revenue $ 3,082.8
$ 2,822.5
$ 260.3
9.2
$ 2,597.4
$ 225.1
8.7
Gross profit $ 1,338.0
$ 1,196.6
$ 141.4
11.8
$ 1,105.8
$ 90.8
8.2
Gross profit as a percentage of
revenue 43.4%
42.4%
42.6%
Revenue $ 2,973.3
$ 2,793.1
$ 180.2
6.5
$ 2,773.5
$ 2,585.6
$ 187.9
7.3
Gross profit $ 1,285.7
$ 1,182.5
$ 103.2
8.7
$ 1,174.3
$ 1,100.7
$ 73.6
6.7
Gross profit as
a percentage of revenue 43.2%
42.3%
42.3%
42.6%
Same store parts and service gross profit increased during 2015, as compared to 2014, primarily due to increases in gross profit associated with customer-
pay service of $33.9 million, warranty of $28.1 million, the preparation of vehicles for sale of $22.6 million, and collision business of $12.5 million.
Customer-pay service gross profit benefited from improved operational execution and margin performance, as well as increased volume due to the increase
in units in operation in our primary service base. See “Market Conditions” above. Warranty gross profit also benefited from an increase in volume, driven by
the increase in units in operation in our primary service base, as well as elevated manufacturer recall activity. Gross profit associated with the preparation of
vehicles for sale benefited from higher new and used vehicle unit volume. Gross profit associated with our collision business benefited from increased
volume referred by automotive insurance providers, as well as an increase in the average repair value and improved customer retention efforts.
Same store parts and service gross profit increased during 2014, as compared to 2013, primarily due to increases in gross profit associated with warranty of
$32.5 million, the preparation of vehicles for sale of $12.7 million, customer-pay service of $11.3 million, and collision business of $10.1 million.
Warranty gross profit benefited from the rise of manufacturer recalls in our Domestic and Import segments, an increase in volume, improved margin
performance, and an increase in manufacturer-paid vehicle maintenance. Gross profit associated with the preparation of vehicles for sale benefited from
higher new and used vehicle unit volume. Customer-pay service gross profit benefited from improved operational execution and increased volume. Gross
profit associated with our collision business benefited from increased volume referred by automotive insurance providers as well as an increase in the average
repair value.
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