We generated record first quarter total revenues of $2.8 billion, up 21% on a year-over-year basis and record first quarter earnings per share of $1.23 per share, tripling our adjusted earnings per share of $0.40 per share in the first quarter of last year.
Given these trends in our progress to date, we are confident we can attain our goal of more than doubling total revenues to $25 billion by 2025.
In our core franchise dealership segment, first quarter revenues were $2.3 billion, a 15% increase from last year.
Total franchise pre-tax income was $70.5 million, an increase of $47.9 million or 211% compared to last year.
On a two-year comparison compared to the first quarter of 2019, same-store franchise dealership revenues increased 14% and pre-tax income increased by $49.8 million, which is a 240% increase, reflecting the impact of our lower expense structure as a result of strategic actions that was taken last year.
We continue to experience rapid growth during the first quarter, achieving all time record quarterly revenues of $507 million, which is up 53% compared to the same period last year.
We also achieved record quarterly retail sales volume of nearly 19,700 units, which is up 41% year-over-year and ahead of 18,000 to 19,000 units we guided to on our February call.
In addition to top line growth, we have to -- build of our EchoPark model that currently use vehicle pricing environment during the total gross profit per unit of $2,339 and above our target of $2,150.
Our first active part delivery center in Greenville, South Carolina continues to outperform our model selling 160 vehicles in March at nearly $1,750 in total gross profit per unit.
Generally $100,000 and store level profit for the month.
With our Phoenix hub selling 228 vehicles in its full month in March, driving $125,000 of store level profit.
The unit ratio of December's used car acquisition is already ramping up nicely selling 300 plus in total gross profit per unit.
We remain committed to opening 25 new EchoPark locations in 2021 and we're on track for our 140 plus point nationwide distribution network by 2025, which we expect to retail over 0.5 million pre-owned vehicles annually by that time.
With our progress to-date and the continuing development of our omnichannel retailing platform, we are confident that we can reach $14 billion in EchoPark revenue by 2025.
In the first quarter of 2021, total SG&A expenses as a percentage of gross profit were 72.2% representing a 830 basis point improvement compared to the first quarter of last year and 790 basis points better than the first quarter of 2019 which in dollar terms, while same store franchise gross profit increased 34.5 [Phonetic] last year, same-store franchise SG&A expenses decreased $7.5 million, demonstrating the permanent expense reductions we had previously [Technical Issues].
Turning now to our balance sheet, we ended the first quarter with $435 million in available liquidity and set an all time high liquidity mark in April at $570 million which included over $300 million in cash on hand.
More recently, the Company closed a new four-year $1.8 billion credit facility.
Reflecting our current business momentum, expansion of liquidity resources, I'm very pleased to report that our Board of Directors recently approved 20% increase to the Company's quarterly cash dividend to $0.12 per share payable on July 15, 2021 to all shareholders of record on June 15, 2021.
Additionally, the Board increased our share repurchase authorization by $250 million, bringing our total remaining authorization to $277 million.

Summary:
We generated record first quarter total revenues of $2.8 billion, up 21% on a year-over-year basis and record first quarter earnings per share of $1.23 per share, tripling our adjusted earnings per share of $0.40 per share in the first quarter of last year.
Reflecting our current business momentum, expansion of liquidity resources, I'm very pleased to report that our Board of Directors recently approved 20% increase to the Company's quarterly cash dividend to $0.12 per share payable on July 15, 2021 to all shareholders of record on June 15, 2021.