Group 1’s Parts And Service Gross Profit Rose 31.4% In Q1

Jun 6, 2022

Group 1 Automotive reported $472.90 million in total parts and service revenue for the first quarter of 2022 — an increase of 34.0% compared to the previous year (up 34.6% in constant currency).

Total parts and service same-store revenue grew 16.7% to $405.00 million (up 17.2% in constant currency) with U.S. parts and service same-store revenue outperforming a year ago, driven by increases in customer-pay revenue, wholesale revenue and collision revenue, partially offset by a slight decline in warranty revenue.

Group 1’s total parts and service gross profit rose 31.4% to $259.80 million (up 32.0% in constant currency). Total same-store parts and service gross profit grew 12.4% to $218.90 million (up 13.0% in constant currency) with increased customer-pay business driving U.S. parts and service gross profit growth.

Group 1 owns and operates 202 automotive dealerships, 268 franchises, and 46 collision centers in the United States and the United Kingdom.

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