Welcome to our dedicated page for Group 1 Automotive news (Ticker: GPI), a resource for investors and traders seeking the latest updates and insights on Group 1 Automotive stock.
Group 1 Automotive, Inc. (GPI) delivers comprehensive automotive retail solutions through dealerships, collision centers, and financing services across the United States and United Kingdom. This news hub provides investors and industry observers with essential updates about the company’s strategic developments and market position.
Access timely press releases and verified news covering quarterly earnings, dealership acquisitions, and partnership announcements. Our curated collection helps stakeholders track GPI’s expansion of its 35-brand portfolio and evolving omnichannel retail strategy.
Discover updates on operational milestones including collision center expansions, financial service innovations, and technology integrations across GPI’s network. All content is vetted for relevance to long-term investors and analysts monitoring the automotive retail sector.
Bookmark this page for streamlined access to GPI’s latest corporate communications. Check back regularly for authoritative reporting on one of automotive retail’s most geographically diversified operators.
Group 1 Automotive (NYSE: GPI) has appointed Mark Raban as CEO of its U.K. operations. Raban, with over 20 years of executive experience in automotive retail operations and finance, will oversee the integration of recently acquired Inchcape dealerships and drive strategic growth in the U.K. His focus will be on enhancing customer experience and reinforcing OEM partnerships.
Raban's previous roles include CEO and CFO at Lookers Motor Group, CFO at Marshall Motor Holdings, and senior finance positions at Inchcape Retail, Selfridges, and Borders. Group 1 has operated in the U.K. since 2007 and now has 114 dealerships across the market, representing brands such as Audi, BMW/MINI, Jaguar Land Rover, Lexus, Mercedes-Benz/smart, Porsche, Toyota, Volkswagen, and Volkswagen Commercial Vehicles.
Group 1 Automotive, Inc. (NYSE: GPI), a Fortune 250 automotive retailer, has announced a quarterly dividend of $0.47 per share. This dividend aligns with the company's previously announced 4% increase in its annualized dividend rate, rising from $1.80 per share in 2023 to $1.88 per share in 2024. The dividend will be payable on September 16, 2024, to stockholders of record as of September 2, 2024.
Group 1 operates 260 automotive dealerships, 337 franchises, and 45 collision centers across the United States and the United Kingdom, offering 35 automobile brands. The company's services include new and used car sales, vehicle financing, service and insurance contracts, automotive maintenance and repair, and vehicle parts sales.
Group 1 Automotive, Inc. (NYSE: GPI) has closed on the acquisition of Inchcape Retail's (IR) automotive operations, adding 54 dealership locations across the U.K. This acquisition is expected to generate $2.7 billion in annual revenues, bringing Group 1's 2024 year-to-date total acquired revenues to $3.8 billion. The deal doubles Group 1's U.K. footprint, expanding its presence in key hubs such as the Midlands, North West England, and Wales.
The acquisition includes an extensive brand portfolio featuring Audi, BMW/MINI, Jaguar Land Rover, Lexus, Mercedes-Benz/smart, Porsche, Toyota, Volkswagen, and Volkswagen Commercial Vehicles. This strategic move aligns with Group 1's capital allocation strategy, aiming to create additional scale and value for shareholders.
Group 1 Automotive (NYSE: GPI) has announced the pricing of a $500.0 million private placement of 6.375% senior unsecured notes due 2030. The offering is expected to close on July 30, 2024, subject to customary conditions. The company plans to use the net proceeds to repay borrowings under its revolving credit facility and for general corporate purposes.
The notes are being offered to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S of the Securities Act. Group 1 Automotive, a Fortune 250 automotive retailer, operates 206 dealerships, 270 franchises, and 42 collision centers in the U.S. and UK, offering 35 automobile brands.
Group 1 Automotive (NYSE: GPI), a Fortune 250 automotive retailer, has announced its intention to offer $500.0 million in senior unsecured notes due 2030, subject to market conditions. The company plans to use the net proceeds to repay borrowings under its revolving credit facility and for general corporate purposes. The notes will be offered to qualified institutional buyers and non-U.S. persons in compliance with Rule 144A and Regulation S under the Securities Act, respectively.
Group 1 Automotive operates 206 automotive dealerships, 270 franchises, and 42 collision centers in the United States and the United Kingdom, offering 35 automobile brands. The company's services include new and used vehicle sales, vehicle financing, service and insurance contracts, automotive maintenance and repair, and vehicle parts sales.
Group 1 Automotive (NYSE: GPI) reported second quarter 2024 financial results with record total revenues of $4.7 billion, a 3.0% increase year-over-year. The company achieved quarterly all-time records in U.S. new vehicle ($2.0 billion), parts and service ($497.4 million), and finance and insurance ($183.9 million) revenues. Diluted earnings per share from continuing operations was $10.15, while adjusted EPS was $9.80.
Despite challenges including extreme weather events and a CDK outage, Group 1's U.S. team delivered strong performance. The company continues to focus on the acquisition of Inchcape's U.K. retail automotive business planned for Q3 2024. Year-to-date, Group 1 has acquired dealerships with expected annual revenues of $1.1 billion and disposed of operations generating $335.0 million in annual revenues.
Group 1 Automotive (NYSE: GPI), a leading automotive retailer with 206 dealerships in the U.S. and U.K., has announced it will release its financial results for Q2 2024 on July 24, 2024, before the market opens.
The executive team, led by CEO Daryl Kenningham, will host a conference call at 10:00 a.m. ET to discuss the results. This call will be available live via webcast at Group 1's official website, with a replay accessible for 30 days.
Investors and interested parties can participate in the call by dialing the provided domestic and international numbers. A telephonic replay will also be available until July 31, 2024.
Group 1 Automotive operates 206 dealerships, 270 franchises, and 42 collision centers, offering a broad range of automotive services and products.
Group 1 Automotive (NYSE: GPI), a leading automotive retailer, has expanded its U.K. operations by acquiring four Mercedes-Benz dealerships in Hertfordshire from L&L Automotive. This strategic acquisition adds to Group 1's existing network in the U.K. and is projected to sell over 2,800 new and used vehicles annually, generating $105 million in annual revenue.
The acquisition reflects Group 1's commitment to growing its relationship with Mercedes-Benz and is expected to drive profitable growth. So far in 2024, Group 1 has completed $1.1 billion in acquired revenues, with total acquisitions expected to reach $3.8 billion by the third quarter of the year, including the pending Inchcape U.K. dealership acquisition.
Group 1 Automotive (NYSE: GPI) announced a disruption in its U.S. operations due to a cybersecurity incident experienced by third-party software provider CDK Global. The company activated its cyber response procedures and isolated its systems from CDK's platform. Despite the outage, all U.S. dealerships continue operations using alternative processes, while U.K. dealerships remain unaffected. CDK expects dealer management systems to be restored within days, but the timeline for other applications is unclear. Group 1 is closely monitoring the situation and will take further action if necessary. The company emphasizes its commitment to customer experience and thanks all stakeholders for their patience.
CDK, a leading automotive retail software provider, has extended its agreement with Group 1 Automotive (NYSE: GPI), a Fortune 300 company with 203 dealerships in the U.S. and U.K. This extension will provide Group 1's U.S. franchises with the CDK Dealership Xperience platform. The platform modernizes dealership operations, leveraging capabilities such as Digital Retailing, CRM, and F&I. Additionally, Group 1 can build and integrate apps using Fortellis, a leading developer platform in the automotive industry. Group 1's CIO, James Druzbik, highlighted the partnership's role in enhancing customer experience. CDK's CEO, Brian MacDonald, emphasized the relationship's importance in driving digital transformation in the automotive sector.
