Group 1 Increases Profits

Group 1 UK, the local arm of the US dealership giant which earlier this year bought the Robinsons Motor Group to create a 55-site business, has reported increased profit and turnover for Q3.

The car retail group’s results showed its UK business delivered a gross profit of £76m on a turnover of £550.2m for the period. 

With a total of 191 operations in the US, the UK and Brazil total revenues were up 15.4%, to £2.57bn and gross profit up to £479m.

Speaking to market analysts, CEO Earl J Hesterberg said:  “Consumer demand for vehicles remains extremely strong heading into the fourth quarter. And we continue to sell most units almost immediately after OEM delivery.

“This dynamic should continue throughout the fourth quarter, and potentially much further out, assuming no material change in consumer demand.”