AutoNation, America's largest automotive retailer with 200 stores throughout the U.S., reported 2010 second quarter adjusted net income from continuing operations of $62 million or $0.38 per share compared to adjusted net income of $50 million or $0.28 per share for the same period in the prior year, a 36% improvement on a per-share basis. Revenue totaled $3.1 billion, compared to $2.6 billion in the year-ago period, an increase of 20%, driven primarily by stronger new and used retail vehicle revenue which increased 25%. AutoNation's new vehicle unit sales increased 20%.
Penske Automotive Group with 323 stores (171 franchises in 17 states and Puerto Rico and 152 franchises located outside the United States, primarily in the United Kingdom) reported second-quarter net income rose to $29.2 million, or 32 cents per share more than double the $14.1 million, or 15 cents per share, in the year ago period. Revenue rose 16.6% to $2.7 billion from $2.3 billion a year ago. Total new retail unit sales increased 19.6%, including an increase of 20.5% in the U.S. Penske's same store sales rose 16 percent in the U.S. boosting total same-store retail revenue by 15.8% in its U.S. operations.
Sonic Automotive, the nation's third-largest automotive retailer operating 140 franchises, reported second quarter adjusted earnings from continuing operations were $15.6 million, up 41% from adjusted earnings from continuing operations in the same prior year period. On a per share basis, the Company earned an adjusted $0.27 per diluted share from continuing operations, compared to an adjusted $0.23 per diluted share from continuing operations in the same prior year quarter. New vehicle retail revenue increased 19% and used vehicle retail revenue increased 23% for the second quarter of 2010 compared to the same quarter last year.