Company: GPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001031203-25-000049
Chunk: 103

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 2
Chunk 103
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 units sold.

Parts and service same store gross profit outperformed the Prior Year Quarter, as described above for parts and service same store revenues. 

F&I same store gross profit outperformed the Prior Year Quarter, as described above for F&I same store revenues.

Total same store gross margin in the U.S. increased 44 basis points, primarily driven by an outperformance in parts and service and used vehicle gross margins. This outperformance was partially offset by a decrease in new vehicle gross margins.

SG&A Expenses

SG&A as a percentage of gross profit increased 217 basis points and decreased 74 basis points on an as reported and same store basis, respectively, compared to the Prior Year Quarter.

Total SG&A expenses in the U.S. during the Current Quarter increased $53.9 million, or 12.9%, as compared to the Prior Year Quarter, primarily driven by higher same store SG&A expenses and the acquisition of stores. Total same store SG&A expenses in the U.S. during the Current Quarter, increased $38.1 million, or 8.9%, as compared to the Prior Year Quarter, primarily driven by increased employee related costs and third-party services.

30

Reported Operating Data — U.S. 

(In millions, except unit data)

Six Months Ended June 30,20252024Increase/(Decrease)% ChangeRevenues:New vehicle retail sales$4,101.6 $3,809.4 $292.3 7.7 %Used vehicle retail sales2,347.6 2,251.4 96.2 4.3 %Used vehicle wholesale sales178.5 158.3 20.2 12.7 %Total used2,526.0 2,409.7 116.3 4.8 %Parts and service sales1,086.8 992.6 94.2 9.5 %F&I, net384.5 355.2 29.2 8.2 %Total revenues$8,098.9 $7,566.9 $532.0 7.0 %Gross profit: New vehicle retail sales$281.1 $276.2 $4.9 1.8 %Used vehicle retail sales134.4 132.4 2.0 1.5 %Used vehicle wholesale sales5.1 2.7 2.4