Company: GPI
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001031203-25-000061
Chunk: 108

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 2
Chunk 108
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 the Prior Year Quarter, driven by a decrease in same store gross profit per unit sold, partially offset by an increase in same store units sold.

Parts and service same store gross profit outperformed the Prior Year Quarter, driven by increases in customer pay and warranty gross profit, partially offset by decreases in wholesale and collision gross profit. 

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. decreased 32 basis points, primarily driven by an underperformance in new and used vehicle gross margins, partially offset by an increase in parts and service gross margins. 

SG&A Expenses

SG&A as a percentage of gross profit increased 161 basis points and increased 141 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 $35.7 million, or 8.0%, as compared to the Prior Year Quarter, primarily driven by the acquisition of stores as well as increases on a same store basis as further described as follows. Total same store SG&A expenses in the U.S. during the Current Quarter, increased $31.9 million, or 7.3%, as compared to the Prior Year Quarter, primarily driven by increased employee related costs, unfavorable legal settlements and third-party services.

32

Reported Operating Data — U.S. 

(In millions, except unit data)

Nine Months Ended September 30,20252024Increase/(Decrease)% ChangeRevenues:New vehicle retail sales$6,288.7 $5,826.2 $462.5 7.9 %Used vehicle retail sales3,577.9 3,409.7 168.2 4.9 %Used vehicle wholesale sales269.4 241.2 28.2 11.7 %Total used3,847.3 3,650.9 196.4 5.4 %Parts and service sales1,654.4 1,521.0 133.4 8.8 %F&I, net586.5 539.9 46.6 8.6 %Total revenues$12,376.9 $11,538.0 $838.8 7.3 %Gross profit: New vehicle retail sales$419.2 $416.4