Tag Archives: Group 1

Group 1 has announced a 15.9% decrease in pre-tax profit for the three months to June 30, from $75.18m in 2018 to $63.2m. The company has highlighted a “significant weakness in [its] UK operations”, citing weak overall market conditions stemming from Brexit uncertainty, compounded by a decline in used vehicle market values, as the reason. UK operations accounted for 20.4% ...

US dealer giant Group 1 is to consolidate its UK business in 2019 following rapid expansion in recent years President and CEO Earl J Hesterberg told analysts that in the short term the group was more likely to acquire businesses in the US. Group 1 in the UK is now rated 9 in the Motor Trader Top 200 with estimated ...

Three UK automotive industry leaders will be taking on the Epic Thames Waterbike Ride over four days this summer. Between 4-7 July, Jon Wakefield, Volvo Car UK’s managing director, Tim Tozer, CEO of Allianz Partners UK & Ireland and Darren Guiver, managing director of Group 1 Automotive, will water-cycle a 166-mile routein the hopes of raising £300,000 for Ben in ...

Group 1 is expecting that its Audi sales in the UK will be back on track by “mid-year” following the fall-out from WLTP which hit supplies across Europe. Group 1’s Q4 like-for-like UK new vehicle unit sales declined 16% with a 48% fall in its Audi sales. Speaking at an analysts briefing at the company’s full year results Group 1 ...

Group 1 CEO Earl  J Hesterberg has detailed the group’s exposure to WLTP shortages in the UK  in the September plate-change and the final quarter of 2018. He said the UK business was “significantly disrupted” due to the WLTP legislation that came into effect on 1 September. “The total industry was down 10% for the quarter, but our brands, particularly ...

The impact of the WLTP supply shortage was thrown into high relief by Group 1 in the third quarter which saw like for like gross profits down -4.3% to $58.1m (£45m) on turnover down -11% to $496.4m. The new car business saw gross profits down -20.5% to $13.2m on turnover down -26.2% to $236.1m for the three months to September. ...

Cost cutting and a focus on used car sales helped Group1 deliver a “favourable performance in the UK in the three months to June. On a like-for-like basis gross profits rose 12.6% to $57m on turnover up 13.6% to $493m. Like for like gross profit per unit on new cars fell -9.8% to $1,582 while used cars saw gross profit ...

US-headquartered Group 1 Automotive has appointed Aston Barclay as its remarketing partner for the Beadles, Advantage Cars, Mercedes and Smart dealers located across south-east England and East Anglia. In total, 19 dealerships will be represented. Aston Barclay Chelmsford will process about 5,000 Group 1 used cars each year. These are expected to be 2010 models or later, with values of between £6,000 – ...

Used cars helped Group 1 turn in a strong performance in the first quarter. The company issued like-for-like figures and stripped out currency variations (see table below) which showed that used vehicle retail sales rose 13.4% to $146.2m (£105m) while new vehicle retail sales fell -6.6% to $270.1m. For the period, retail new unit vehicle sales fell -10% to 8,012 ...

Group 1 is looking to launch a higher mileage used car scheme in the UK called Val-U-Line as it deals with the fall in new car sales. It has launched Val-U-line in the US and is assessing the strength of the model for roll-out in the UK. Val-U-Line will sell low cost part-exchange vehicles that currently go to auction. In ...