EDMONTON -

Among other factors, strong used-vehicle operations helped AutoCanada notch a solid third quarter, according to quarterly results announced by the retailer last week.

Looking at the consolidated operational data, AutoCanada (which operates in both the US and Canada) retailed 8,836 used vehicles during the quarter, up 19.7% year-over-year.

It sold 7,994 used vehicles in Canada during Q3, up from 6,398 a year ago.

It moved 842 used units in the US, compared to 986 in Q3 2019.

AutoCanada generated used-vehicle revenue of $282.40 million in Q3 in Canada, up from $235.96 million a year ago.

US used revenue was $26.80 million, up from $26.34 million in Q3 2019.

Total used-vehicle revenue came in $309.19 million, compared to $262.30 million a year ago.

Looking at Canadian operations highlights in more detail, AutoCanada increased its used-to-new retail units ratio from 0.72 in Q3 2019 to 0.86 in the most recent quarter.

Meantime, the trailing 12-month measure of that ratio was at 0.93, up from 0.74 a year ago.

Discussing overall results — which included revenue reaching $1 billion for the first time in a quarter and record gross profits of $179.4 million — AutoCanada executive chairman Paul Antony said in a news release: “We achieved a record-setting quarter as the actions and measures taken earlier in the year to strengthen the business model and position the company for top-decile operating performance were evidenced in these results.

“Strong used vehicles sales combined with record gross profit levels, continued sequential improvements in new vehicle sales and our actions to manage and reduce costs were key drivers of our performance

“Strengthening the foundation of AutoCanada with a strong balance sheet and consistently outperforming the market allows us to pivot and pursue an acquisition and innovation strategy,” he said.

Later, Antony added this on used cars, specifically: “We also continue to develop our Digital Retail Initiative to drive used vehicles sales through omni-channel and completely online. We believe this strategy will be a foundational business driver for years to come and another example of AutoCanada leadership in the markets we serve.”

AutoCanada also noted that the used-car side accounted for $18.1 million of the $28.7 million gross profit increase. The group also achieved gross profit margins of 9.6% for used cars, up from 4.5% a year earlier.