Company: GPI
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001031203-25-000029
Chunk: 35

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 decreased 44 basis points, primarily driven by an underperformance in new vehicle retail and used vehicle retail gross margins for the reasons described above for same store gross profit per unit sold for new and used vehicle retail. This underperformance was partially offset by a small improvement in parts and service gross margins.

SG&A Expenses

SG&A as a percentage of gross profit increased 451 basis points and increased 136 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 $52.6 million, or 13.3%, 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 $22.4 million, or 5.4%, as compared to the Prior Year Quarter, primarily driven by increased employee related costs, third-party services and higher facility related expenses.

27

Reported Operating Data — U.K.

(In millions, except unit data)

Three Months Ended March 31,20252024Increase/ (Decrease)% ChangeCurrency Impact on Current Period ResultsConstant Currency % ChangeRevenues:New vehicle retail sales$711.2 $382.8 $328.5 85.8 %$0.1 85.8 %Used vehicle retail sales611.1 317.3 293.8 92.6 %(3.9)93.8 %Used vehicle wholesale sales59.6 26.2 33.5 127.9 %(0.2)128.8 %Total used670.7 343.5 327.2 95.3 %(4.1)96.5 %Parts and service sales160.8 81.1 79.7 98.3 %(1.2)99.8 %F&I, net40.8 17.5 23.3 133.0 %(0.2)133.9 %Total revenues$1,583.5 $824.8 $758.7 92.0 %$(5.4)92.6 %Gross profit:New vehicle retail sales$59.0 $27.6 $31.4 113.5 %$0.1 113.2 %Used vehicle retail sales27.8