Group 1 Automotive, Inc. is one of the leading automotive retailers in the world, with operations primarily located in the United States and the UK. As of Dec 31, 2021, the company's retail network consisted of 147 and 55 dealerships in the United States and the U.K., respectively. Through these dealerships, the firm sells new and used cars and light trucks. Apart from selling new and used vehicles, the company offers vehicle financing and insurance and service contracts. Further, it provides maintenance and repair services, along with sale of replacement parts and aftermarket automotive products.
The core brands of vehicles sold by Group 1 Automotive are Toyota/Lexus, BMW, Honda, Ford, Nissan, General Motors, Chrysler, Volkswagen/Audi/Porsche, Mercedes-Benz, Nissan, Jaguar and Hyundai.
In 2021, New Vehicle represented 48%; Used Vehicle contributed 36%; Service and Parts accounted for 12%; and Finance & Insurance represented 4% to the company’s total revenues.
In November, Group 1 announced the divestment plans of its Brazilian operations. Until the closure of its Brazilian operations, which is scheduled in the second quarter of 2022, operating results from the same will be reported as discontinued operations and excluded from continuing operations. Group 1 will, henceforth, not report Brazil as a separate segment and will only report the U.S. and U.K. segments.
Thus, the company currently operates through two reportable segments — the United States and the United Kingdom. In the United States, the major metropolitan areas in which the company has presence are — Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Maine, Oklahoma, South Carolina and Texas.
The firm’s online retail platform, AcceleRide, which was deployed to all the U.S. dealerships in 2019, allows for a comprehensive shopping experience to the customers. The customer also has the ability to apply for financing and review and select F&I products as part of the online process.