GROUP 1 AUTOMOTIVE INC
For the period ended Sep 30, 2025. Filed Oct 28, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 28, 2025
GPI$268.46+2.7%Stored close · as of Nov 9, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-07-24.
0001031203-25-000049
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-10-28.
0001031203-25-000061
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 157 previous paragraphs and 165 current paragraphs.
82 unchanged; 59 reworded; 22 added; 13 removed; 3 previous and 2 current paragraphs rearranged.
Tables are not compared: 17 previous and 17 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (22)
Current report
The U.K. economy continues to face challenges, including persistent inflation, elevated interest rates, rising energy costs and a slowdown in consumer spending. These factors have contributed to margin compression and increased operating expenses within the automotive retail industry. These economic challenges in the U.K., coupled with the voluntary termination of certain franchise agreements, caused a triggering event for the U.K. reporting unit requiring further assessment of our goodwill and intangible franchise rights. Based on our quantitative assessment, we recorded goodwill and franchise rights intangible asset impairments of $93.0 million and $23.5 million, respectively, in the U.K. reporting unit in the Current Quarter. Refer to Note 4. Intangible Franchise Rights and Goodwill within our Notes to Condensed Consolidated Financial Statements for further information.
Current report
On October 17, 2025, President Donald Trump issued a proclamation under Section 232 imposing 25% tariffs on imported medium- and heavy-duty trucks and parts, effective November 1, 2025. The order also grants a 3.75% production credit through 2030 for vehicles and engines assembled in the U.S. The measure is expected to affect vehicle costs, sourcing and production decisions across the automotive industry, particularly for companies involved in the distribution and sale of medium- and heavy-duty vehicles. The impact of these measures on our results of operations cannot be predicted at this time.
Current report
On September 18, 2025, the U.S. Federal Reserve lowered interest rates by 25 basis points in an effort to stimulate the labor market and economic activity. On August 7, 2025, the Bank of England lowered interest rates by 25 basis points, following earlier reductions in February and May 2025. These interest rate cuts may improve vehicle affordability for consumers, however, the impact on our results of operations cannot be predicted with certainty at this time.
Current report
On September 16, 2025, a fire at a major U.S. aluminum production facility caused significant damage and is expected to keep the plant offline until early 2026. The facility supplies several OEMs, including Ford, Toyota and Jeep, and the disruption is anticipated to affect the production of certain aluminum-intensive vehicle models. Certain OEMs have indicated they are working with alternative aluminum suppliers to mitigate the impact of the fire. In response to these supply constraints, Ford temporarily suspended production of certain SUV models, and additional impacts to truck production may occur if aluminum shortages persist. While the ultimate impact on our new vehicle supply remains uncertain, these disruptions could result in reduced vehicle availability, which may adversely affect our results of operations.
Current report
On September 4, 2025, President Donald Trump signed an executive order implementing the United States–Japan Agreement that revises tariff treatment for Japanese automobiles and auto parts under Section 232 of the Trade Expansion Act. Effective retroactively to August 7, 2025, imports from Japan are generally subject to a 15 percent duty, with adjustments based on existing tariff rates, which replaces the higher additional duties previously applied to these products. The impact of these measures on our results of operations cannot be predicted at this time.
Current report
On September 2, 2025, JLR disclosed that it had experienced a significant cybersecurity incident that resulted in the temporary shutdown of certain production facilities and information technology systems. This disruption has led to delays in new vehicle deliveries, reduced availability of certain models and interruptions in certain parts supply. JLR accounted for approximately 3.8% of our total consolidated revenues during the Current Year. We cannot predict with certainty the expected total impact of the incident on our results of operations at this time and will continue to monitor developments closely.
Current report
In the U.K., the Financial Conduct Authority (“FCA”) is reviewing the historic use of discretionary commission arrangements in motor finance. On August 1, 2025, the Supreme Court of the United Kingdom issued its judgment in the Johnson v FirstRand Bank Ltd, Wrench v FirstRand Bank Ltd and Hopcraft v Close Brothers Ltd cases. The Supreme Court of the United Kingdom ruled that dealers do not generally owe fiduciary duties but confirmed that, in some cases, commission arrangements that were not properly disclosed to customers could be treated as creating an unfair relationship under the Consumer Credit Act. On August 3, 2025, the FCA announced it will consult in October 2025 on a possible industry-wide redress scheme for affected consumers. If adopted, the scheme could be finalized such that compensation payments may begin in 2026. The FCA also confirmed that firms will not be required to issue final responses to related customer complaints until after December 4, 2025. The outcomes of the FCA’s review, any redress scheme and related proceedings remain uncertain.
Current report
Total gross profit in the U.S. during the Current Quarter increased $36.9 million, or 5.4%, as compared to the Prior Year Quarter, driven by higher same store gross profit and the acquisition of stores.
Current report
Parts and service same store gross profit outperformed the Prior Year Quarter, driven by increases in customer pay and warranty gross profit, partially offset by decreases in wholesale and collision gross profit.
Current report
SG&A as a percentage of gross profit increased 161 basis points and increased 141 basis points on an as reported and same store basis, respectively, compared to the Prior Year Quarter.
Current report
U.S. Region — Nine Months Ended September 30, 2025 Compared to 2024
Current report
Total same store gross profit in the U.S. during the Current Year increased $120.9 million, or 6.2%, as compared to the Prior Year, driven by increases in parts and service, F&I and used vehicles, partially offset by a decrease in new vehicle gross profit.
Current report
New vehicle retail same store gross profit underperformed the Prior Year, driven by a decrease in new vehicle retail same store gross profit per unit sold, partially offset by an increase in units sold.
Current report
Parts and service same store gross profit outperformed the Prior Year, driven by increases in customer pay and warranty gross profit, partially offset by decreases in wholesale and collision gross profit.
Current report
Total same store gross profit in the U.K. during the Current Quarter increased $1.6 million, or 1.0%, as compared to the Prior Year Quarter. On a constant currency basis, total same store gross profit decreased 2.3%, driven bydownward pressures on margins across all business lines except used vehicle wholesale and F&I.
Current report
SG&A as a percentage of gross profit increased by 113 and 199 basis points on an as reported and same store basis, respectively, compared to the Prior Year Quarter.
Current report
Total SG&A expenses in the U.K. during the Current Quarter increased $27.6 million, or 18.9%, as compared to the Prior Year Quarter. Total same store SG&A expenses in the U.K. during the Current Quarter increased $4.7 million, or 3.4%, as compared to the Prior Year Quarter, due tochanges in foreign currency exchange rates. On a constant currency basis, total same store SG&A expenses remained consistent, as increases on a total same store basis were primarily driven by higher employee related costs, loaner vehicle and facility costs, offset by lower professional and legal fees, compared to the Prior Year Quarter.
Current report
U.K. Region — Nine Months Ended September 30, 2025 Compared to 2024
Current report
SG&A as a percentage of gross profit increased by 93 and 71 basis points on an as reported and same store basis, respectively, compared to the Prior Year.
Current report
Asset impairments totaled $123.9 million in the Current Quarter and $124.6 million in the Current Year. During the Current Year, we recognized goodwill, intangible franchise rights and fixed asset impairment charges of $93.0 million, $23.9 million and $7.7 million, respectively, primarily in the U.K. reporting unit.
Current report
Refer to Note 4. Intangible Franchise Rights and Goodwill within our Notes to Condensed Consolidated Financial Statements for further discussion.
Current report
Refer to Note 4. Intangible Franchise Rights and Goodwill within our Notes to Condensed Consolidated Financial Statements for further discussion of the asset impairment charges.
Removed paragraphs (13)
Previous report
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.
Previous report
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.
Previous report
SG&A as a percentage of gross profit increased 217 basis points and decreased 74 basis points on an as reported and same store basis, respectively, compared to the Prior Year Quarter.
Previous report
U.S. Region — Six Months Ended June 30, 2025 Compared to 2024
Previous report
Total same store gross profit in the U.S. during the Current Year increased $87.3 million, or 6.8%, as compared to the Prior Year, driven by increases across all business lines.
Previous report
Parts and service same store gross profit outperformed the Prior Year, as described above for parts and service same store revenues.
Previous report
Used vehicle retail same store revenues, on a constant currency basis, outperformed the Prior Year Quarter, driven by more units sold, partially offset by lower pricing.
Previous report
SG&A as a percentage of gross profit increased by 373 and 75 basis points on an as reported and same store basis, respectively, compared to the Prior Year Quarter.
Previous report
Total SG&A expenses in the U.K. during the Current Quarter increased $94.9 million, or 119.3%, as compared to the Prior Year Quarter. Total same store SG&A expenses in the U.K. during the Current Quarter increased $8.7 million, or 11.2%, as compared to the Prior Year Quarter. On a constant currency basis, total same store SG&A expenses increased 5.1%. The increases on a total same store basis were primarily driven by outside services and professional fees, coupled with increased employee related costs and facilities fees, offset by lower legal expenses and advertising costs, compared to the Prior Year Quarter.
Previous report
U.K. Region — Six Months Ended June 30, 2025 Compared to 2024
Previous report
Used vehicle retail same store revenues, on a constant currency basis, outperformed the Prior Year, driven by more units sold, partially offset by lower pricing.
Previous report
SG&A as a percentage of gross profit increased by 170 and decreased by 15 basis points on an as reported and same store basis, respectively, compared to the Prior Year.
Previous report
Asset impairments totaled $0.4 million in the Current Quarter and $0.8 million in the Current Year. During the Current Year, we recognized an impairment charge of $2.7 million associated with the termination of certain franchises in the U.K., partially offset by a $2.3 million gain recognized as a result of an increase in value during the Current Year of previously impaired assets held for sale.
Reworded paragraphs (59)
Previous wording
We are a leading operator in the automotive retail industry. We sell or lease new and used cars and light trucks; arrange related vehicle financing; sell service and insurance contracts; provide automotive maintenance and repair services; and sell vehicle parts retail and wholesale. We have operations in geographically diverse markets that extend across 17 states in the U.S. and 67 towns and cities in the U.K. As of June 30, 2025, our retail network consisted of 145 dealerships in the U.S. and 113 dealerships in the U.K.
Current wording
We are a leading operator in the automotive retail industry. We sell or lease new and used cars and light trucks; arrange related vehicle financing; sell service and insurance contracts; provide automotive maintenance and repair services; and sell vehicle parts retail and wholesale. We have operations in geographically diverse markets that extend across 17 states in the U.S. and 66 towns and cities in the U.K. As of September 30, 2025, our retail network consisted of 146 dealerships in the U.S. and 113 dealerships in the U.K.
Previous wording
We continue to monitor the uncertain macroeconomic and industry conditions in the U.K., including the impact of the tariff agreement between the U.S. and the U.K. outlined above. Although the effect of the macroeconomic environment on our results of operations cannot be predicted with certainty, future negative impacts may require us to assess the goodwill and intangible franchise rights associated with our U.K. reporting unit for impairment, which could result in material impairment charges in future periods.
Current wording
We will continue to monitor the challenging macroeconomic and industry conditions in the U.K. as outlined above. Further erosion in the macroeconomic environment, additional margin compression, or increases to our operating costs in the U.K. may require us to re-assess the value of our goodwill and intangible franchise rights associated with our U.K. reporting unit, which could result in additional material impairment charges in future periods.
Previous wording
The U.K. government has established mandated targets for the sale of new zero emissions vehicles with increasing targets in future years. On April 6, 2025, the U.K. Prime Minister announced planned changes to the EV mandate, which aim to allow carmakers more flexibility in reaching their goal to phase out internal combustion engine vehicles. The plan increases flexibility of the mandate through 2030, allowing more EV’s to be sold in later years as demand increases. Further, the plan allows for the continued sale of hybrid vehicles, which can be operated by both internal combustion and batteries, through 2035 to help ease the transition. Beginning July 16, 2025, U.K. car manufacturers can apply for Electric Car Grants, which will discount eligible new EV’s for consumers at the point of sale. Additionally, on June 12, 2025, President Donald Trump signed resolutions revoking California’s authority to enforce regulations it set forth, including Advanced Clean Cars II (“ACC”), which imposes stricter emissions limits for vehicles and implements a ban on the sale of new gas-powered cars by 2035. California and ten other states set to implement ACC-like rules have sued the Environmental Protection Agency and President Donald Trump and are seeking to enjoin the resolutions. The impact of these changes on our vehicle mix and results of operations cannot be predicted with certainty at this time.
Current wording
The U.K. government has established mandated targets for the sale of new zero emissions vehicles with increasing targets in future years. On April 6, 2025, the U.K. Prime Minister announced planned changes to the EV mandate, which aim to allow carmakers more flexibility in reaching their goal to phase out internal combustion engine vehicles. The plan increases flexibility of the mandate through 2030, allowing more EVs to be sold in later years as demand increases. Further, the plan allows for the continued sale of hybrid vehicles, which can be operated by both internal combustion and batteries, through 2035 to help ease the transition. As of July 16, 2025, U.K. car manufacturers can apply for Electric Car Grants, which will discount eligible new EVs for consumers at the point of sale. Certain manufacturers urged the U.K. government to provide additional flexibility in the mandate, citing consumer demand, infrastructure limitations and the cost of compliance as potential barriers to meet future targets. Additionally, on June 12, 2025, President Donald Trump signed resolutions revoking California’s authority to enforce regulations it set forth, including Advanced Clean Cars II, which imposes stricter emissions limits for vehicles and requires nearly all new car sales to be zero-emission by 2035. California and ten other states set to implement Advanced Clean Cars II-like rules have sued the Environmental Protection Agency and President Donald Trump and are seeking to enjoin the resolutions. The impact of these changes on our vehicle mix and results of operations cannot be predicted with certainty at this time.
Previous wording
On April 2, 2025, President Donald Trump signed an executive order setting a 10 percent baseline tariff on imports, with higher rates for countries running trade surpluses with the U.S. By April 9, 2025, a follow-up order paused most of the higher reciprocal tariffs for 90 days but kept the 10 percent baseline and raised Chinese tariffs. Throughout the three months ended June 30, 2025 (“Current Quarter”), the U.S and China continued to negotiate the temporary reciprocal lowering of tariffs. On July 7, 2025, President Donald Trump extended the tariff modifications through August 1, 2025.
Current wording
On April 2, 2025, President Donald Trump signed an executive order setting a 10 percent baseline tariff on imports, with higher rates for countries running trade surpluses with the U.S. By April 9, 2025, a follow-up order paused most of the higher reciprocal tariffs for 90 days but kept the 10 percent baseline and raised Chinese tariffs. On July 7, 2025, President Donald Trump extended the tariff modifications through August 1, 2025. On August 11, 2025, President Donald Trump further extended the suspension of country-specific reciprocal tariff rates on Chinese goods and kept the 10% rate in place through November 10, 2025.
Previous wording
On March 26, 2025, President Donald Trump signed a proclamation under Section 232 of the Trade Expansion Act imposing a 25 percent tariff on imported automobiles and certain automobile parts. As of July 24, 2025, the procedures required by the Secretary of Commerce to impose these tariffs have not yet been finalized or implemented.
Current wording
On March 26, 2025, President Donald Trump signed a proclamation under Section 232 of the Trade Expansion Act imposing a 25 percent tariff on imported automobiles and certain automobile parts. Subsequent procedures issued by the U.S. Department of Commerce provided partial relief for vehicles qualifying under the United States-Mexico-Canada Agreement and allowed manufacturers with U.S. assembly operations to apply for offsets on parts tariffs. In August 2025, a federal appeals court limited certain tariff powers under emergency statutes, but the Section 232 automobile tariffs remain in effect. The impact on our operations and results of operations cannot be predicted at this time.
Previous wording
Total revenues in the U.S. during the Current Quarter increased $256.0 million, or 6.5%, as compared to the three months ended June 30, 2024 (“Prior Year Quarter”), driven by higher same store revenues offset by the disposition of stores subsequent to the Prior Year Quarter.
Current wording
Total revenues in the U.S. during the Current Quarter increased $306.8 million, or 7.7%, as compared to the three months ended September 30, 2024 (“Prior Year Quarter”), driven by higher same store revenues and the acquisition of stores.
Previous wording
Total same store revenues in the U.S. during the Current Quarter increased $284.2 million, or 7.4%, as compared to the Prior Year Quarter. This increase was driven by higher revenues across all business lines.
Current wording
Total same store revenues in the U.S. during the Current Quarter increased $273.1 million, or 7.0%, as compared to the Prior Year Quarter. This increase was driven by higher revenues across all business lines.
Previous wording
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.
Current wording
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 52 days, four days lower than the Prior Year Quarter.
Previous wording
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.
Current wording
F&I same store revenues outperformed the Prior Year Quarter, primarily driven by higher same store new and used vehicle units sold, coupled with improved penetration rates across most product offerings and improved finance and VSC income per contract.
Previous wording
Total same store gross profit in the U.K. during the Current Quarter increased $9.9 million, or 10.1%, as compared to the Prior Year Quarter. On a constant currency basis, total same store gross profit increased 4.0%, driven byincreases from used vehicle retail, used vehicle wholesale, parts and service and F&I, partially offset by downward pressure on new vehicle retail margins.
Current wording
Total same store gross profit in the U.S. during the Current Quarter increased $33.6 million, or 5.1%, as compared to the Prior Year Quarter, driven by increases in parts and service and F&I, partially offset by decreases in new and used vehicle gross profit.
Previous wording
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.
Current wording
New vehicle retail same store gross profit underperformed the Prior Year Quarter, driven by a decrease in new vehicle retail same store gross profit per unit sold, partially offset by an increase in units sold.
Previous wording
Used vehicle retail same store gross profit outperformed the Prior Year Quarter, prima rily 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 units sold.
Current wording
Used vehicle retail same store gross profit underperformed the Prior Year Quarter, prima rily driven by lower same store gross profit per unit sold, partially offset by higher same store used vehicle retail units sold. Used vehicle wholesale same store gross profit underperformed the Prior Year Quarter, driven by a decrease in same store gross profit per unit sold, partially offset by an increase in same store units sold.
Previous wording
Total same store gross margin in the U.S. increased 44 basis points, primarily driven by an outperformance in parts and service and used vehicle gross margins. This outperformance was partially offset by a decrease in new vehicle gross margins.
Current wording
Total same store gross margin in the U.S. decreased 32 basis points, primarily driven by an underperformance in new and used vehicle gross margins, partially offset by an increase in parts and service gross margins.
Previous wording
Total SG&A expenses in the U.S. during the Current Quarter increased $53.9 million, or 12.9%, as compared to the Prior Year Quarter, primarily driven by higher same store SG&A expenses and the acquisition of stores. Total same store SG&A expenses in the U.S. during the Current Quarter, increased $38.1 million, or 8.9%, as compared to the Prior Year Quarter, primarily driven by increased employee related costs and third-party services.
Current wording
Total SG&A expenses in the U.S. during the Current Quarter increased $35.7 million, or 8.0%, as compared to the Prior Year Quarter, primarily driven by the acquisition of stores as well as increases on a same store basis as further described as follows. Total same store SG&A expenses in the U.S. during the Current Quarter, increased $31.9 million, or 7.3%, as compared to the Prior Year Quarter, primarily driven by increased employee related costs, unfavorable legal settlements and third-party services.
Previous wording
Total revenues in the U.S. during the six months ended June 30, 2025 (“Current Year”) increased $532.0 million, or 7.0%, as compared to the six months ended June 30, 2024 (“Prior Year”), driven by higher same store revenues and the acquisition of stores.
Current wording
Total revenues in the U.S. during the nine months ended September 30, 2025 (“Current Year”) increased $838.8 million, or 7.3%, as compared to the nine months ended September 30, 2024 (“Prior Year”), driven by higher same store revenues and the acquisition of stores.
Previous wording
Total same store revenues in the U.S. during the Current Year increased $495.8 million, or 6.7%, as compared to the Prior Year. This increase was driven by higher revenues across all business lines.
Current wording
Total same store revenues in the U.S. during the Current Year increased $768.9 million, or 6.8%, as compared to the Prior Year. This increase was driven by higher revenues across all business lines.
Previous wording
New vehicle retail same store revenues outperformed the Prior Year, driven by more units sold, coupled with higher pricing. This outperformance reflects the resiliency of demand. We ended the Current Year with a U.S. new vehicle inventory supply of 48 days, 14 days lower than the Prior Year.
Current wording
New vehicle retail same store revenues outperformed the Prior Year, driven by more units sold, coupled with higher pricing. This outperformance reflects the resiliency of demand. We ended the Current Year with a U.S. new vehicle inventory supply of 52 days, four days lower than the Prior Year.
Previous wording
F&I same store revenues outperformed the Prior Year, primarily driven by higher same store new and used vehicle units sold, coupled with higher same store F&I gross profit per unit sold. Improved penetration rates across most product offerings contributed to the higher same store F&I gross profit per unit sold.
Current wording
F&I same store revenues outperformed the Prior Year, primarily driven by higher same store new and used vehicle units sold, coupled with improved penetration rates across most product offerings and improved finance and VSC income per contract.
Previous wording
Total gross profit in the U.S. during the Current Year increased $96.8 million, or 7.4%, as compared to the Prior Year, driven by higher same store gross profit and the acquisition of stores.
Current wording
Total gross profit in the U.S. during the Current Year increased $133.7 million, or 6.7%, as compared to the Prior Year, driven by higher same store gross profit and the acquisition of stores.
Previous wording
Used vehicle retail same store gross profit outperformed the Prior Year, primarily driven by higher same store used vehicle retail units sold, partially offset by lower same store gross profit per unit sold as described above for used vehicle retail same store revenues. Used vehicle wholesale same store gross profit outperformed the Prior Year, driven by an increase in same store gross profit per unit sold, coupled with an increase in same store units sold.
Current wording
Used vehicle retail same store gross profit outperformed the Prior Year, primarily driven by higher same store used vehicle retail units sold, partially offset by lower same store gross profit per unit sold. Used vehicle wholesale same store gross profit outperformed the Prior Year, driven by an increase in same store gross profit per unit sold, coupled with an increase in same store units sold.
Previous wording
SG&A as a percentage of gross profit increased 330 basis points and 23 basis points on an as reported and same store basis, respectively, as compared to the Prior Year.
Current wording
SG&A as a percentage of gross profit increased 271 basis points and 64 basis points on an as reported and same store basis, respectively, as compared to the Prior Year.
Previous wording
Total SG&A expenses in the U.S. during the Current Year increased $106.5 million, or 13.1%, as compared to the Prior Year, primarily driven by higher same store SG&A expenses and the acquisition of stores. Total same store SG&A expenses in the U.S. during the Current Year increased $60.5 million, or 7.2%, as compared to the Prior Year, primarily driven by increased employee related costs, third-party services and higher facility related expenses.
Current wording
Total SG&A expenses in the U.S. during the Current Year increased $142.2 million, or 11.3%, as compared to the Prior Year, primarily driven by higher same store SG&A expenses and the acquisition of stores. Total same store SG&A expenses in the U.S. during the Current Year increased $92.5 million, or 7.2%, as compared to the Prior Year, primarily driven by increased employee related costs, third-party services, unfavorable legal settlements and higher facility related expenses.
Previous wording
Retail new and used vehicle units sold include new and used vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles as only the sales commission is reported within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold. The GBP to USD foreign currency exchange rate has fluctuated from £1 to$1.265 at June 30, 2024, to £1 to$1.372 at June 30, 2025, or an increase in the value of the GBP of 8.4%.
Current wording
Retail new and used vehicle units sold include new and used vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles as only the sales commission is reported within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold. The GBP to USD foreign currency exchange rate has fluctuated from £1 to$1.339 at September 30, 2024, to £1 to$1.344 at September 30, 2025, or an increase in the value of the GBP of 0.4%.
Previous wording
Total revenues in the U.K. during the Current Quarter increased $751.2 million, or 96.9%, as compared to the Prior Year Quarter, primarily driven by the acquisition of stores, higher same store revenues, and changes in foreign currency exchange rates.
Current wording
Total revenues in the U.K. during the Current Quarter increased $254.5 million, or 20.4%, as compared to the Prior Year Quarter, primarily driven by the acquisition of stores, higher same store revenues and changes in foreign currency exchange rates.
Previous wording
Total same store revenues in the U.K. during the Current Quarter increased $46.2 million, or 6.0%, as compared to the Prior Year Quarter, primarily driven byoutperformances across all lines of business except new vehicle retail. On a constant currency basis, same store revenues increased 0.1%, driven by the same outperformances.
Current wording
Total same store revenues in the U.K. during the Current Quarter increased $47.5 million, or 3.9%, as compared to the Prior Year Quarter, primarily driven byoutperformances across all lines of business except new vehicle retail. On a constant currency basis, same store revenues increased 0.6%, driven by the same outperformances.
Previous wording
New vehicle retail same store revenues, on a constant currency basis, under performed the Prior Year Quarter, driven by lower units sold, coupled with lower pricing. The Current Quarter ended with a U.K. new vehicle inventory supply of 32 days, three days lower than the Prior Year Quarter.
Current wording
New vehicle retail same store revenues, on a constant currency basis, under performed the Prior Year Quarter, driven by lower units sold. The Current Quarter ended with a U.K. new vehicle inventory supply of 20 days, three days lower than the Prior Year Quarter.
Previous wording
Parts and service same store revenues, on a constant currency basis, outperformed the Prior Year Quarter, driven by increases in customer pay, partially offset by decreases in warranty, wholesaleand collisionre venues. We have invested in improvements to our U.K. customer contact center, streamlining operations to make scheduling appointments easier for customers, resulting in an increase in parts and service activity driving an increase in revenues as compared to the Prior Year Quarter.
Current wording
Parts and service same store revenues, on a constant currency basis, outperformed the Prior Year Quarter, driven by increases in customer pay and wholesale revenues, partially offset by a decrease in warranty revenues. We have invested in improvements to our U.K. customer contact center, streamlining operations to make scheduling appointments easier for customers, resulting in an increase in customer pay parts and service activity driving an increase in revenues as compared to the Prior Year Quarter.
Previous wording
F&I, net same store revenues, on a constant currency basis, outperformed the Prior Year Quarter, driven by higher income per contract on most of our F&I products, improved penetration rates and an increase in used vehicle retail units sold.
Current wording
F&I, net same store revenues, on a constant currency basis, outperformed the Prior Year Quarter, driven by higher income per contract on most of our F&I products and improved finance and VSCpenetration rates.
Previous wording
Total gross profit in the U.K. during the Current Quarter increased $108.3 million, or 109.6%, as compared to the Prior Year Quarter, driven by the acquisition of stores and higher same store gross profit.
Current wording
Total gross profit in the U.K. during the Current Quarter increased $30.2 million, or 17.3%, as compared to the Prior Year Quarter, driven by the acquisition of stores and higher same store gross profit.
Previous wording
New vehicle retail same store gross profit, on a constant currency basis, underperformed the Prior Year Quarter, primarily due to a decrease in units sold, coupled by a decrease in new vehicle retail gross profit per unit sold as a result of an industry wide increase in vehicle inventory production generating downward pressure on new vehicle margins.
Current wording
New vehicle retail same store gross profit, on a constant currency basis, underperformed the Prior Year Quarter, due to a decrease in units sold, coupled with a decline in gross profit per unit sold on a constant currency basis.
Previous wording
Used vehicle retail same store gross profit, on a constant currency basis, outperformed the Prior Year Quarter, driven by an increase in used vehicle retail units sold, partially offset by a decrease in used vehicle retail same store gross profit per unit sold.
Current wording
Used vehicle retail same store gross profit, on a constant currency basis, underperformed the Prior Year Quarter, driven by a decrease in used vehicle retail same store gross profit per unit sold, partially offset by an increase in used vehicle retail same store units sold.
Previous wording
Parts and service same store gross profit, on a constant currency basis, outperformed the Prior Year Quarter, driven by increases in parts and service same store revenues, as discussed above.
Current wording
Parts and service same store gross profit, on a constant currency basis, remained consistent as compared to the Prior Year Quarter, driven by the fluctuations in parts and service same store revenues, as discussed above.
Previous wording
Total same store gross margin in the U.K. increased 50 basis points, primarily driven by improvements in parts and service and used vehicle wholesale gross margins. This increase was partially offset by underperformances in new and used vehicle retail gross margins.
Current wording
Total same store gross margin in the U.K. decreased 39 basis points, primarily driven by underperformances in parts and service and used vehicle retail gross margins. This decrease was partially offset by improvements in used vehicle wholesale gross margins.
Previous wording
Retail new and used vehicle units sold include new and used vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles as only the sales commission is reported within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold. The GBP to USD foreign currency exchange rate has fluctuated from £1 to $1.265 at June 30, 2024, to £1 to $1.372 at June 30, 2025, or an increase in the value of the GBP of 8.4%.
Current wording
Retail new and used vehicle units sold include new and used vehicle agency units. The agency units and related revenues are excluded from the calculation of the average sales price per unit sold for new vehicles as only the sales commission is reported within revenues. The agency units and related net revenues are included in the calculation of gross profit per unit sold. The GBP to USD foreign currency exchange rate has fluctuated from £1 to $1.339 at September 30, 2024, to £1 to $1.344 at September 30, 2025, or an increase in the value of the GBP of 0.4%.
Previous wording
Total revenues in the U.K. during the Current Year increased $1,509.9 million, or 94.4%, as compared to the Prior Year, primarily driven by the acquisition of stores, higher same stores revenues, and changes in foreign currency exchange rates.
Current wording
Total revenues in the U.K. during the Current Year increased $1,764.4 million, or 61.9%, as compared to the Prior Year, primarily driven by the acquisition of stores, higher same stores revenues and changes in foreign currency exchange rates.
Previous wording
Total same store revenues in the U.K. during the Current Year increased $86.1 million, or 5.4%, as compared to the Prior Year, primarily driven byoutperformances across all lines of business except new vehicle retail. On a constant currency basis, same store revenues increased 2.7%, driven by the same outperformances.
Current wording
Total same store revenues in the U.K. during the Current Year increased $133.6 million, or 4.8%, as compared to the Prior Year, driven byoutperformances across all lines of business except new vehicle retail. On a constant currency basis, same store revenues increased 1.8%, for the same outperformances.
Previous wording
New vehicle retail same store revenues, on a constant currency basis, underperformed the Prior Year, driven by less units sold. We ended the Current Year with a U.K. new vehicle inventory supply of 32 days, three days lower than the Prior Year.
Current wording
New vehicle retail same store revenues, on a constant currency basis, underperformed the Prior Year, driven by less units sold, partially offset by higher pricing. We ended the Current Year with a U.K. new vehicle inventory supply of 20 days, three days lower than the Prior Year.
Previous wording
Parts and service same store revenues, on a constant currency basis, outperformed the Prior Year, driven by increases in customer pay and collisions revenue, partially offset by decreases in warranty and wholesale revenues. We have invested in improvements to our U.K. customer contact center, streamlining operations to make scheduling appointments easier for customers, resulting in an increase in parts and service activity driving an increase in revenues as compared to the Prior Year.
Current wording
Parts and service same store revenues, on a constant currency basis, outperformed the Prior Year, driven by an increase in customer pay revenues, partially offset by decreases in warranty and wholesale revenues. We have invested in improvements to our U.K. customer contact center, streamlining operations to make scheduling appointments easier for customers, resulting in an increase in customer pay parts and service activity driving an increase in revenues as compared to the Prior Year.
Previous wording
F&I, net same store revenues, on a constant currency basis, outperformed the Prior Year, driven by higher income per contract on most of our F&I products, improved penetration rates and an increase in used vehicle retail units sold.
Current wording
F&I, net same store revenues, on a constant currency basis, outperformed the Prior Year, driven by higher income per contract and higher penetration on most of our F&I products.
Previous wording
Total gross profit in the U.K. during the Current Year increased $221.7 million, or 109.6%, as compared to the Prior Year Quarter, driven by the acquisition of stores and higher same store gross profit.
Current wording
Total gross profit in the U.K. during the Current Year increased $251.9 million, or 66.9%, as compared to the Prior Year Quarter, driven by the acquisition of stores and higher same store gross profit.
Showing the first 40 of 59 pairs. Open the source sections for the rest.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
Used vehicle retail same store revenues, on a constant currency basis, outperformed the Prior Year Quarter, driven by more units sold, coupled with higher pricing.
Current report — wording carried from elsewhere
Used vehicle retail same store revenues, on a constant currency basis, outperformed the Prior Year, primarily driven by more units sold.
Rearranged previous paragraphs (3)
Previous report — wording carried elsewhere
We ended the Current Quarter with a U.S. new vehicle inventory supply of 48 days, 14 days lower than the Prior Year Quarter.
Previous report — wording carried elsewhere
Parts and service same store gross profit outperformed the Prior Year Quarter, as described above for parts and service same store revenues.
Previous report — wording carried elsewhere
New vehicle retail same store gross profit outperformed the Prior Year, driven by an increase in units sold, partially offset by a decrease in new vehicle retail same store gross profit per unit sold.