Group 1 Automotive to concentrate on price management and effectivity forward of main UK growth

US retail big Group 1 Automotive will stay centered on enhancing price management and effectivity at its UK companies forward of including Inchcape’s 54 dealerships to its portfolio.

In second-quarter monetary outcomes, the enterprise posted complete revenues of $4.7 billion, a 3% improve year-on-year, attaining a quarterly all-time document by way of US new car ($2 billion), components and repair ($497.4m), and finance and insurance coverage ($183.9m) revenues.

Regardless of challenges within the US together with excessive climate occasions and a CDK outage which price the enterprise $17m, Group 1 mentioned it stays intent on enhancing its efficiency within the UK.

Group 1 purchased its first BMW and MINI dealerships in 2007 within the south of England, earlier than steadily increasing northwards into East Anglia and the Dwelling Counties.

The enterprise which now owns greater than 70 automotive dealerships within the UK was pressured to scale back headcount by 300 individuals – round 10% – within the first quarter of this yr in an effort to scale back prices.