Exhibit 99.1

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FOR IMMEDIATE RELEASE

Group 1 Automotive Announces Second Quarter 2019 Financial Results
Strong Results Driven by Significant Increase in U.S. Same Store Parts & Service Revenue and Record U.S. F&I Profit per Unit Performance
HOUSTON, July 25, 2019 -
Group 1 Automotive, Inc. (NYSE: GPI), (“Group 1” or the “Company”), an international, Fortune 500 automotive retailer, today reported 2019 second quarter net income of $49.2 million, diluted earnings per common share of $2.64, adjusted net income (a non-GAAP measure) of $52.8 million, and adjusted diluted earnings per common share (a non-GAAP measure) of $2.83.
Second quarter 2019 adjusted net income and diluted earnings per share exclude approximately $3.5 million net after-tax adjustments, or $0.19 per common share. These adjustments consist primarily of $3.0 million related to catastrophic weather events, or $0.16 per common share; and non-cash asset impairments of $0.5 million, or $0.03 per common share.
“We delivered a strong quarter based on exceptional results in the U.S. despite a soft new vehicle sales market. Record Same Store parts and service revenue growth of more than 10 percent and record F&I per retail unit profitability drove Same Store gross profit growth of 8.5 percent,” said Earl J. Hesterberg, Group 1’s president and chief executive officer. “This performance demonstrates that we can continue to increase profits in a less than optimal new vehicle sales environment.”
“In contrast to our strong U.S. performance, we saw significant weakness in our U.K. operations. Weak overall market conditions stemming from BREXIT uncertainty were compounded by a decline in used vehicle market values. We are in the midst of a significant cost reduction effort in the U.K. to respond to these market fluctuations,” added Hesterberg.
Consolidated Results for Second Quarter 2019 (year-over-year comparable basis)
For ease of comparison, we have included constant currency metrics (a non-GAAP measure) both below (shown in parenthesis) and in the financial tables that follow:
Total revenue grew 2.1 percent (3.7 percent), to $3.0 billion.
Total gross profit grew 3.7 percent (4.8 percent), to $454.3 million.
New vehicle revenues increased 0.6 percent (2.2 percent), despite a slight decrease in unit sales. New vehicle gross profit decreased 9.0 percent (decreased 7.7 percent), to $69.7 million, largely explained by the decision to forego certain OEM volume bonuses in the U.K. by not self-registering vehicles this quarter.
Retail used vehicle revenues increased 2.1 percent (3.7 percent) on 4.6 percent higher unit sales. Retail used vehicle gross profit increased 4.1 percent (5.4 percent), to $53.3 million. Total used vehicle gross profit was up 3.4 percent (4.7 percent), to $53.2 million. In the U.S., the Val-u-Line® initiative the Company launched last year has continued to build momentum, with Same Store used retail unit sales increasing 7.0 percent, and Val-u-Line® units growing to over 11 percent of the mix.
Parts and service gross profit increased 4.6 percent (5.8 percent), to $204.1 million, on revenue growth of 5.6 percent (6.8 percent). Same Store parts and service gross profit increased 6.0 percent (7.2 percent) on Same Store parts and service revenue growth of 7.9 percent (9.1 percent). U.S. Same Store parts and service revenue increased by 10.1 percent, establishing a new all-time quarterly growth record.

1

The following information was filed by Group 1 Automotive Inc (GPI) on Thursday, July 25, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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