Group 1 Automotive
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|Group 1 Automotive|
|Traded as||NYSE: GPI|
S&P 600 Component
|Founder||Bob Howard, Sterling McCall, Charles Smith, Kevin Whalen|
Number of locations
|United States, United Kingdom, Brazil|
|Earl J. Hesterberg (CEO), John C. Rickel (CFO), Daryl A. Kenningham (President US), Peter C. Delongchamps (SVP), Frank Grese Jr. (SVP), Darryl M. Burman (SVP)|
|Brands||Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Jeep, Dodge, Ram Trucks, Ford, GMC, Honda, Hyundai, Jaguar, Land Rover, KIA, Lexus, Lincoln, Mazda, Mercedes-Benz, MINI, Nissan, SEAT, Skoda, Subaru, Toyota, Vauxhall, Volkswagen, Volvo|
|Services||New Car Sales, Used Car Sales, Light Truck Sales, Automotive Service and Repair, Automotive Financing, Automotive Collision Repair, Automotive Parts Sales.|
Number of employees
|Subsidiaries||Bohn Holdings, Chandlers Garage Holdings, GPI Ltd, Group 1 Automotive UK Limited, Group 1 Funding, Ira Automotive Group, Mike Smith Autoplaza, Mike Smith Autoplex, Miller Automotive Group, Miller Imports, Bob Howard Automotive East, Bob Howard Motors, Rockwall Automotive, Lubbock Motors, Maxwell Ford, Mike Smith Imports, Amarillo Motors-F|
|Footnotes / references|
Group 1 Automotive, Inc. (NYSE: GPI) is an international Fortune 500 automotive retailer with automotive dealerships and collision centers in the United States, United Kingdom and Brazil. Group 1 sells new and used cars and light trucks, arranges financial services, provides maintenance and repair services, and sells vehicle parts. As of 2019, the company employs over 15,000 people globally.
The company is led by former Ford Motor Company executives, CEO Earl J. Hesterberg and CFO John C. Rickel. The company executives are SVP Peter C. DeLongchamps, SVP Darryl M. Burman, SVP Frank Grese Jr., and President of US Operations Daryl A. Kenningham
Group 1 was founded as a public corporation in 1997 with B. B. Hollingsworth as Chairman and CEO. The founding dealership owners were Bob Howard of Oklahoma City, Sterling McCall and Kevin Whalen of Houston, and Charles Smith of Beaumont.
Subsequent acquisitions in the USA include the Gene Messer Automotive Group, Maxwell Auto Group, Ira Motor Group, Bohn Auto Group, Pat Peck Auto Group and Miller Automotive Group. 2018 Acquisitions include two dealerships in El Paso and on 1st March 2018,
In March 2018 Group 1 completed their acquisition of 5 Mercedes-Benz and 3 smart dealerships from Robinsons Motor Group. These are based in Bury St Edmunds, Cambridge, Kings Lynn, Norwich and Peterborough.
Group 1 purchased Brazilian automotive firm UAB Motors Participacoes S.A in 2013, renaming the entity as Group 1 Automotive Brasil in 2015. Professional race car driver André Ribeiro and his family of dealerships were notable parts of this acquisition.
As of 2013, Group 1 became the third largest automotive retailer in the United States and as of 2018 the company owns 163 dealerships in 15 states across the USA, 18 in Brazil and 60 in the UK. Group 1 also operates 31 collision centers in the USA, Brazil and the UK.
In response to the Tax Cuts and Jobs Act of 2017, Group 1 issued a $500 bonus to non-management dealership personnel. CEO Earl Hesterberg noted, "This was an unusual opportunity to support the people who do the hard work without doing undue financial damage to the company."
In the USA, Group 1 Automotive has dealerships in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina and Texas. Their corporate headquarters is in the Memorial City district of Houston, Texas.
Products and Services
In response to used vehicle retailing trends, the Val-U-Line® brand was created in Q1 2018 to retail older vehicles with benefits like a 3-day/300 mile return policy and CarFax vehicle history reports. Initial investment impacted forecasts but future earnings were positive, contributing to a 13.9% increase in used vehicle sales for 2018.
In June 2019 the company created AcceleRide®, a digital retailing platform allowing customers to purchase a new or used vehicle without the need to visit their dealerships. The platform also provides vehicle financing, trade-in appraisals and offsite delivery options.
With individual dealerships engage in local philanthropic efforts often independent from the corporate office, Group 1 supports Houston-area causes focusing on community outreach and grade school education. Employees regularly make brown bag lunches to support Kids' Meals and donated cargo vans for their meals on wheels deliveries.
The company partnered with SEARCH Homeless Services and Junior Achievement of South East Texas for events, classroom mentoring and the JA Company Program in Spring Branch ISD. Starting in November 2017, Group 1 partnered with the Houston Independent School District to reward their Teacher of the Month recipients with a new vehicle to drive for the month.
The Group 1 Foundation
The Group 1 Foundation was initially created to support employees impacted by Hurricane Katrina, closely followed by Hurricane Rita. This tax-exempt charity gives all proceeds to help fellow employees in times of hardship. Examples include supporting survivors of fatal car accidents and a fire at an employee's home.
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