Tag Archives: Group 1

US dealer giant Group 1 is pushing ahead with the five-phase restructuring of its UK business and the integration of Inchcape which it bought last year. Last year, in phases one and two, it cut costs by £15m with a reduction of over 200 jobs achieved through cuts made in the executive team and senior franchise oversight functions, the elimination ...

Group 1’s US and UK operations turned in a strong performance in 2024 with turnover up 11.5% to $19.9bn (£16bn) and gross profit up 7.3% to $3.2bn. In the UK turnover turnover and profitability surged on the back of its acquisition of the Inchcape UK arm with turnover up 36% to $4.16bn and gross profits up 36.6% to $560.1m. The ...

Group 1 has renewed its remarketing deal with BCA for a further three years following a tender process. The deal will see up to 20,000 vehicles a year sold at BCA. The renewed Group 1 remarketing programme commenced in January 2025, with stock offered via BCA Online and the BCA Buyer app every day. Lee Galloway, sales operations director at ...

Group 1 turned in a strong performance in Q3 with year-on-year gross profit up 8.4% to $852.7m (£656m) and turnover up 11% to $5.2bn (£4bn). Group 1 has accelerated its UK growth.  For the quarter UK gross profits rose 68.6% to $1174.5 on turnover up 55.2% to $1.2bn. In July 2024, it bought four Mercedes-Benz UK dealerships, which is expected ...

Group 1 has acquired Soper of Lincoln BMW/MINI, located north of London, in the country of Lincolnshire. This acquisition is expected to generate around $125m in annual revenues. Group 1 CEO, Daryl Kenningham, said: “We want to welcome our new teammates from Soper of Lincoln to the Group 1 family and are delighted to expand our operations with these great ...

Group 1 in the UK took to social channels today to welcome on board its new CEO Mark Raban. Raban confirmed to Motor Trader in August that he had landed the sop job at the UK arm of the US dealer giant. Mark Raban, the former CEO of Lookers, was the winner of the Motor Trader Outstanding Achievement Award in ...

Mark Raban, the former CEO of Lookers, has been appointed as the new CEO of Group 1 in the UK. The appointment was confirmed by Mark Raban with Motor Trader this morning. Raban was the winner of the Motor Trader Outstanding Achievement Award in 2023 for his tenure at Lookers, hauling the company back from big losses to significant profitability. ...

US dealer giant Group 1 Automotive today announced that it has closed on the acquisition of Inchcape Retail’s 54 dealership locations across the U.K. These dealerships are expected to generate $2.7bn (£2.1bn) in annual revenues, bringing 2024 year-to-date total revenues for Group 1 to $3.8bn. In the UK the deal will catapult Group 1 up the Motor Trader Top 200 ...

Group 1 has reported revenues of £3.6 billion and profit of almost £600 million in Q2. The dealer Group, which operates 206 dealerships across the UK and the US, has been focus on expanding its geographic footprint. Daryl Kenningham, Group 1’s President and CEO, said: “Our U.K. team remains focused on the acquisition of Inchcape’s U.K. retail automotive business planned ...

Group 1 in the US has described how its business was impacted by the hacking of CDK Global cloud DMS platform. The listed dealer group, which operates 202 dealerships in the US representing 35 car brands, said it immediately activated its cyber incident response procedures and took measures to protect and isolate its systems from the CDK platform. It said despite ...