Group 1 Automotive is targeting substantial expansion in the UK!

GP1 currently owns 70 car dealerships in the UK.

The US retail giant Group 1 Automotive is focusing on enhancing cost control and efficiency in its UK operations before integrating Inchcape’s 54 dealerships into its portfolio.

In the second-quarter financial results, the company reported total revenues of $4.7 billion, a 3% increase year-on-year.

This included a quarterly record in US new vehicle sales ($2 billion), parts and service revenues ($497.4 million), and finance and insurance revenues ($183.9 million).

Despite challenges in the US such as extreme weather events and a CDK outage costing the business $17 million, Group 1 is determined to enhance its performance in the UK. The company acquired its first BMW and MINI dealerships in 2007 in southern England and has since expanded northwards into East Anglia and the Home Counties.

With more than 70 car dealerships in the UK, the company had to reduce its workforce by 300 employees, approximately 10%, in the first quarter of this year to cut costs.