Company: GPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001031203-25-000049
Chunk: 102

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 2
Chunk 102
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 7.4%, 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 48 days, 14 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 improvements to finance income per contract, contributing to higher same store F&I gross profit per unit sold.

Gross Profit

Total gross profit in the U.S. during the Current Quarter increased $61.0 million, or 9.1%, as compared to the Prior Year Quarter, driven by higher same store gross profit, partially offset by the disposition of stores subsequent to the Prior Year Quarter.

Total same store gross profit in the U.S. during the Current Quarter increased $66.7 million, or 10.1%, as compared to the Prior Year Quarter, driven by increases across all business lines.

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

Used vehicle retail same store gross profit outperformed the Prior Year Quarter, primarily driven by higher same store gross profit per unit sold, coupled with higher same store used vehicle retail units sold as described above for used vehicle retail same store revenues. Used vehicle wholesale same store gross profit outperformed the Prior Year Quarter, driven by an increase in same store gross profit per unit sold, coupled with an increase in same store