Tag Archives: Group 1

Group 1 turned in a record UK performance in the third quarter of 2020 with year on year growth in vehicle sales and aftersales. UK like-for-like revenues increased 22.6% to $707m and like-for-like gross profit increased 31.6% to $82.8m. The UK business accounted for 24.4% of total revenues and 17.1% of total gross profit “Our record earnings are a function ...

Group 1’s UK business contributed to the ‘significant’ third quarter profit improvement for the US dealer group. It said that vehicle sales and service levels recovered from the lockdowns that occurred over April and May. “UK new vehicle same store sales increased approximately 20% over 2019 and used vehicle sales were up mid-single digits,” it said. In July, when releasing ...

Group 1 is expecting to make ‘significant savings in 2020 because of job cuts made earlier this year. The annual report posted at Companies House show the full extent of the cull with a 20% plus cut in employee numbers compared to 2019. “The directors expect significant savings will be achieved from a lower permanent headcount with overall ongoing headcount ...

Group 1 CEO Earl J  Hesterberg said the UK business was in the strongest position it had been for several years following the cost cutting and the UK business was operating at its highest efficiency levels ever. Announcing the group’s second quarter Hesterberg said the UK market had ‘snapped back’ after six weeks of closure during the lockdown. “Our UK ...

Group 1 has announced new measures to combat the impact of the crisis. It is suspending its cash dividend and cancelling a share repurchase scheme “Due to the dramatic impact of the COV-ID 19 pandemic on the auto retail market and the associated temporary displacement of so many of our valued employees, the Group 1 Automotive board of directors has ...

Group 1 has issued a statement clarifying its position with regard to COVID-19 in the UK, US and Brasil. Its CEO Earl J Hesterberg is driving the action plan taking a 50% cut in salary. In line with UK Government mandate, it istemporarily  closing all of its dealerships keeping a skeleton staff. The required closure period will be re-evaluated on ...

Group 1 is optimistic about the UK market in 2020, citing a post-General Election pick-up in showroom traffic, improved Audi supply and the benefits of cost cutting moves put into place in 2019. CEO Earl J Hesterberg said the improved trading environment in 2020 could help it dispose of some dealerships acquired in big deals over the past few years. ...

Group 1 Automotive has pumped nearly 600 part-exchange cars through BCA Auctions in the first week of sales in January. The auction house is supporting Group 1 Automotive’s used car programme with sales at Blackbushe, London and Bedford every Friday, Thursday and Monday respectively. All vehicles are pre-sale prepared and all eligible cars are offered under the BCA Assured scheme. ...

Darren Guiver, managing director of Group 1 in the UK, has left the company after three and a half year to pursue other interests and spend more time with his family Guiver told Motor Trader: “Financially I am okay from the sale of the Squire business and property investments. Time is something a job cannot give you. Group 1 was ...

Group 1 Automotive has expanded its remarketing partnership with Manheim to include LCVs. The new commercial vehicle deal will complement the dealer group’s existing auction programme, which sees 14,000 cars per year. Manheim will offer 400 LCVs pa in a dedicated remarketing programme at its Colchester auction centre. The first auction is set to take place on the 25 September. ...