Tag Archives: Group 1

The Motor Trader Top 200 Franchised Dealer Groups for 2024 features in the July August print edition of Motor Trader. It shows a sector experiencing huge interest in dealer groups from foreign investors, ongoing consolidation and a market building momentum after contraction in the pandemic. At the top of the listing there has been big change in ownership. Pendragon was ...

The just published Motor Trader Top 200 reveals the Top 30 dealers who have increased profits the most. Inchcape UK tops the bill, having added £21.2m to its profits in the most recently published figures. The UK arm is being sold by Inchcape to Group 1 in a deal that is expected to get the go ahead later this year. ...

Group 1 UK delivered record revenues of $824.8m (£663m) in Q1, up 4.7% year on year with gross profit down -6.2% to $103.5m Daryl Kenningham, Group 1 president and chief executive officer of the US dealer group, said the UK business had “rebounded nicely” from a challenging Q4 last year. In January, it cut 10% of its workforce to boost ...

Group 1 UK is set to cut jobs by 10% in the first quarter of 2024 in a drive to reduce costs. The company confirmed the move as it announced fully ear results for the US parent and UK subsidiary. It said the U.K. delivered record current year revenues of $3.1b, driven by all lines of service and record gross ...

Group 1 Automotive attended the London Tottenham Job Fair held at the Tottenham Hotspur Stadium to seek out potential employees. The move was part of the Drive My Career initiative, the employment platform launched by the National Franchised Dealers Association (NFDA) to make the motor retail sector more attractive to young jobseekers and connect potential candidates with their local retailers. ...

Group 1 turned in a record performance in the first quarter with turnover up 7.4% to $4.1bn and gross profits up 0.4% to $727.9m In the UK turnover turnover rose 4.6% to $787.7m with gross profits up 6.3% to $110.4m. “Group 1 achieved another strong quarter. Our teams delivered record aftersales performances in both the US and UK as a ...

Group 1 Automotive has renewed a multi-year agreement with payment platform Bumper. The dealer group will continue to use Bumper’s Buy Now, Pay Later product for splitting the cost of car repairs and servicing into affordable, interest-free payments. Spanning all 93 dealer sites, this renewed agreement is for 13 franchises which include BMW, Ford, Kia, Skoda and Mercedes-Benz and secures ...

Group 1 Automotive has renewed its remarketing deal with BCA to support its used car programme for a further two years. The deal will see up to 14,000 vehicles a year sold at BCA. All vehicles are pre-sale prepared and all eligible cars are offered under the BCA Assured scheme. The renewed Group 1 remarketing programme commenced in January 2023, ...

Group 1 turned in a strong performance in 2022 with record profitability in the UK business. Overall the US dealer group saw turnover up 20.3% to $16.2bn with gross profits up 21.5% to $3bn. In the UK it delivered $382.9m gross profits, up 9% on the prior year on turnover up 6% to $2.8bn. Daryl Kenningham, Group 1 president and ...

Three BMW models, the iX, i4, and the i3S are the best EV investments, according to Group 1. It examined the cost to buy the most popular fully-electric vehicles and compared this with their value after three years based on driving 10,000 miles annually. Despite being pricier to charge, Group 1 said that these models retain their value better due ...