Company: GPI
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001031203-25-000061
Chunk: 118

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 2
Chunk 118
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.2 million, or 17.3%, as compared to the Prior Year Quarter, driven by the acquisition of stores and higher same store gross profit.

Total same store gross profit in the U.K. during the Current Quarter increased $1.6 million, or 1.0%, as compared to the Prior Year Quarter. On a constant currency basis, total same store gross profit decreased 2.3%, driven by downward pressures on margins across all business lines except used vehicle wholesale and F&I.

New vehicle retail same store gross profit, on a constant currency basis, underperformed the Prior Year Quarter, due to a decrease in units sold, coupled with a decline in gross profit per unit sold on a constant currency basis.

Used vehicle retail same store gross profit, on a constant currency basis, underperformed the Prior Year Quarter, driven by a decrease in used vehicle retail same store gross profit per unit sold, partially offset by an increase in used vehicle retail same store units sold.

Parts and service same store gross profit, on a constant currency basis, remained consistent as compared to the Prior Year Quarter, driven by the fluctuations in parts and service same store revenues, as discussed above.

F&I same store gross profit, on a constant currency basis, outperformed the Prior Year Quarter, as described above in F&I same store revenues.

Total same store gross margin in the U.K. decreased 39 basis points, primarily driven by underperformances in parts and service and used vehicle retail gross margins. This decrease was partially offset by improvements in used vehicle wholesale gross margins. 

38

SG&A Expenses

SG&A as a percentage of gross profit increased by 113 and 199 basis points on an as reported and same store basis, respectively, compared to the Prior Year Quarter. 

Total SG&A expenses in the U.K. during the Current Quarter increased $27.6 million, or 18.9%, as compared to the Prior Year Quarter. Total same store SG&A expenses in the U.K. during the Current Quarter increased $4.7 million, or 3.4%, as compared to the Prior Year Quarter, due to changes in foreign currency exchange rates. On a constant currency basis, total same store SG&A expenses remained consistent, as increases on a total same store basis were primarily driven by higher employee related costs, loaner vehicle and facility costs, offset by lower professional and legal fees, compared to the Prior Year Quarter.

39

Reported Operating Data — U.K. 

(In millions, except unit