Company: GPI
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001031203-25-000061
Chunk: 107

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 2
Chunk 107
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 by higher same store revenues and the acquisition of stores.

Total same store revenues in the U.S. during the Current Quarter increased $273.1 million, or 7.0%, as compared to the Prior Year Quarter. This increase was driven by higher revenues across all business lines. 

New vehicle retail same store revenues outperformed the Prior Year Quarter, driven by more units sold, coupled with higher pricing. This outperformance reflects the resiliency of demand. We ended the Current Quarter with a U.S. new vehicle inventory supply of 52 days, four days lower than the Prior Year Quarter.

Used vehicle retail same store revenues outperformed the Prior Year Quarter, driven by higher pricing, coupled with more units sold. Used vehicle wholesale same store revenues outperformed the Prior Year Quarter, driven by more units sold, coupled with higher pricing. 

Parts and service same store revenues outperformed the Prior Year Quarter, driven by increases in customer pay, warranty and wholesale revenues, partially offset by decreases in collision revenues. We are strategically reducing our smaller collision center footprints and repurposing a portion of that space to traditional service capacity, which we expect to increase returns from the higher margin service business. Same store technician headcount increased through our continued technician recruiting and retention efforts, providing greater capacity to meet increased demand.

F&I same store revenues outperformed the Prior Year Quarter, primarily driven by higher same store new and used vehicle units sold, coupled with improved penetration rates across most product offerings and improved finance and VSC income per contract.

Gross Profit

Total gross profit in the U.S. during the Current Quarter increased $36.9 million, or 5.4%, as compared to the Prior Year Quarter, driven by higher same store gross profit and the acquisition of stores. 

Total same store gross profit in the U.S. during the Current Quarter increased $33.6 million, or 5.1%, as compared to the Prior Year Quarter, driven by increases in parts and service and F&I, partially offset by decreases in new and used vehicle gross profit.

New vehicle retail same store gross profit underperformed the Prior Year Quarter, driven by a decrease in new vehicle retail same store gross profit per unit sold, partially offset by an increase in units sold.

Used vehicle retail same store gross profit underperformed the Prior Year Quarter, primarily driven by lower same store gross profit per unit sold, partially offset by higher same store used vehicle retail units sold. Used vehicle wholesale same store gross profit underperformed