Rush sees aftermarket revenues rise
Aftermarket is certainly not an afterthought at Rush Enterprises.
The company announced its aftermarket services continued its hot streak during its earnings call Wednesday.
The division accounted for more than 65 percent of the company’s total gross profits for the second quarter of 2013. Second quarter parts, service and body shop revenues increased by 17 percent compared to the second quarter 2012.
“Parts, service and body shop revenues continue to be driven by strong demand for maintenance and repair from our customers,” says W. M. “Rusty” Rush, chairman, chief executive officer and president of Rush Enterprises, Inc. “We continually work to expand our network of service points throughout the country and our portfolio of aftermarket solutions, such as our RushCare call center, mobile service and mobile technicians, natural gas vehicle service, oil and coolant diagnostic services and vehicle up-fitting, among others.
“Additionally, we are investing in facility upgrades, diagnostic equipment and technology that will enhance our customer’s service experience and increase customer uptime by providing service when and where our customers need it. We expect parts, service and body shop revenues to remain strong throughout 2013.”
The company extended its geographic footprint this quarter, completing acquisitions in North Carolina and Ohio and entering purchase agreements with two dealer groups to acquire locations in Kansas, Missouri and Virginia.
Parts, service and body shop sales were $242.9 million in the second quarter of 2013, compared to $208.3 million in the second quarter of 2012.
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