PR Newswire | Oct 28, 2021 07:08AM EDT

10/28 06:07 CDT

Group 1 Automotive Announces Record Third Quarter 2021 Financial Results- Record Quarterly EPS of $9.33- Total Revenues Increase 15% HOUSTON, Oct. 28, 2021

HOUSTON, Oct. 28, 2021 /PRNewswire/ -- Group 1 Automotive, Inc.(NYSE: GPI), ("Group 1" or the "Company"), an international, Fortune 500 automotive retailer, with 191 dealerships located in the U.S., U.K., and Brazil, today reported an all-time record third quarter 2021 ("current quarter") net income per diluted share of $9.33, a 36.5% increase from $6.83 per diluted share as reported for third quarter 2020 ("prior year quarter").

Current quarter adjusted net income per diluted share (a non-GAAP measure) was an all-time quarterly record of $9.62, a 38.0% increase from $6.97 adjusted net income per diluted share for the prior year quarter, and an increase of 219.1% over the pre-pandemic third quarter of 2019. Current quarter net income was $172.1 million, a 36.1% increase compared to net income of $126.4 million in the prior year quarter. Current quarter adjusted net income (a non-GAAP measure) was $177.5 million, a 37.6% increase compared to adjusted net income of $129.0 million for the prior year quarter. The Company's current quarter total revenues were $3.5 billion, a 15.4% increase compared to total revenues of $3.0 billion in the prior year quarter.

"Continued strong vehicle margins, further improvement in our service volume, and diligent cost control delivered this quarter's impressive results," said Earl J. Hesterberg, Group 1's President and Chief Executive Officer. "We continue to sell most new vehicles almost immediately upon manufacturer delivery. Assuming no material change in consumer demand, this dynamic should continue throughout the fourth quarter and into 2022. In addition to the recently announced dealership acquisition in the Dallas and Sacramento markets, we remain on track to close the purchase of the Prime Auto Group in November."

Current quarter adjusted net income and diluted earnings per share excluded net after-tax adjustments of $5.4 million, or $0.29 per common share, related to a loss on debt extinguishment of $3.8 million, or $0.21 per common share; acquisition costs of $3.4 million, or $0.18 per common share; an asset impairment charge of $1.3 million, or $0.07 per common share; and hurricane related losses of $0.4 million or $0.02 per common share. These adjustments were partially offset by favorable legal settlements of $2.9 million, or $0.16 per common share; and a non-cash gain associated with certain interest rate swaps of $0.7 million, or $0.04 per common share. Prior year quarter adjusted net income and diluted earnings per share excluded a net after-tax adjustment related to a loss on debt redemption of $2.6 million, or $0.14 per common share. Reconciliations of non-GAAP financial measures are included in the attached financial tables. Certain disclosures may not compute due to rounding.

Consolidated Operating Highlights for Current Quarter(year-over-year comparable basis)

Reported:

* Total revenues increased 15.4%, to $3.5 billion. * Total gross profit increased 27.6%, to $653.2 million. * New vehicle revenues only decreased 0.3%, despite an 11.9% decline in units sold, driven by an increase in gross profit per retail unit (PRU) of 91.8%, to $4,773. * Used vehicle retail revenues increased 44.0%, driven by a 12.8% increase in units sold, and an increase in used vehicle retail gross profit PRU of 23.0%, to $2,279. * Parts and service gross profit increased 12.3%, on a 13.8% increase in revenue. * Finance and Insurance (F&I) gross profit PRU increased 13.9%, to $1,885. * Selling, General and Administrative (SG&A) expenses as a percentage of gross profit decreased 77 basis points, to 59.0%. Adjusted SG&A expenses (a non-GAAP measure) as a percentage of gross profit decreased 96 basis points, to 58.8%.

Same Store on a Constant Currency Basis (a non-GAAP measure):

* Total revenues increased 11.5%. * Total gross profit increased 24.6%. * New vehicle gross profit increased 65.1%, despite a 14.3% decrease in units sold, driven by an increase in new vehicle gross profit PRU of 92.7%. * Used vehicle retail gross profit increased 32.2%, as units sold increased 9.0%, and used vehicle retail gross profit PRU increased 21.3%. * Parts and service gross profit increased 10.1%. * F&I gross profit PRU increased 15.9%. * SG&A expenses as a percentage of gross profit decreased 98 basis points. Adjusted SG&A expenses as a percentage of gross profit decreased 116 basis points.

Corporate Development

As previously announced in September 2021, the Company entered into a definitive agreement to purchase substantially all the assets, including real estate, of Prime Automotive Group, which includes 30 dealerships and three collision centers in the Northeastern U.S. In 2020, the corresponding Prime dealerships generated $1.8 billion in annual revenues. As previously announced in October 2021, the Company acquired two dealerships in Texas and one in California, which are expected to generate approximately $235 million in annualized revenues.

Year-to-date, Group 1 has completed transactions representing $655.0 million of acquired annual revenues, growing the Company's portfolio by 17 franchises. With the Company's previously announced pending acquisition of Prime Automotive Group expected to close in November 2021, the Company's total acquired revenues are expected to be approximately $2.5 billion at the anticipated closing date, and Group 1's total dealership count would increase to 221 locations globally, which would include 150 U.S. locations.

Year-to-date, the Company has disposed of four franchises, which generated approximately $70 million in trailing-twelve-month revenues.

Third Quarter 2021 Earnings Conference Call Details

Group 1's senior management will host a conference call today at 10 a.m. ET to discuss the third quarter 2021 financial results. The conference call will be simulcast live on the Internet at group1auto.com, then click on 'Investor Relations' and then 'Events' or through this link: group1corp.com/events. A webcast replay will be available for 30 days.

The conference call will also be available live by dialing in 15 minutes prior to the start of the call at:

Domestic: 1-888-317-6003

International: 1-412-317-6061

Conference ID: 3636071

A telephonic replay will be available following the call through November 4, 2021 by dialing:

Domestic: 1-877-344-7529

International: 1-412-317-0088

Replay ID: 10160522

ABOUT GROUP 1 AUTOMOTIVE, INC.

Group 1 owns and operates 191 automotive dealerships, 248 franchises, and 49 collision centers in the United States, the United Kingdom and Brazil that offer 33 brands of automobiles. Through its dealerships, the Company sells new and used cars and light trucks; arranges related vehicle financing; sells service contracts; provides automotive maintenance and repair services; and sells vehicle parts.

Investors please visit group1corp.com, group1auto.com, group1collision.com, acceleride.com, facebook.com/group1auto, and twitter.com/group1auto, where Group 1 discloses additional information about the Company, its business, and its results of operations.

FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are statements related to future, not past, events and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. In this context, the forward-looking statements often include statements regarding our strategic investments, goals, plans, projections and guidance regarding our financial position, results of operations and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should," "foresee," "may" or "will" and similar expressions. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause actual results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of manufacturer incentives, (c) the future regulatory environment, (d) our ability to obtain an inventory of desirable new and used vehicles, (e) our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions, (f) our cost of financing and the availability of credit for consumers, (g) our ability to complete acquisitions and dispositions and the risks associated therewith, (h) foreign exchange controls and currency fluctuations, (i) the impacts of COVID-19 on our business, (j) the impacts of any potential global recession, (k) our ability to maintain sufficient liquidity to operate, (l) the risk that proposed transactions will not be consummated in a timely manner, (m) risks that any of the closing conditions to the Prime Acquisition may not be satisfied or may not be satisfied in a timely manner, and (n) our ability to successfully integrate recent and future acquisitions. For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

NON-GAAP FINANCIAL MEASURES, SAME STORE DATA, AND OTHER DATA

In addition to evaluating the financial condition and results of our operations in accordance with U.S. GAAP, from time to time our management evaluates and analyzes results and any impact on the Company of strategic decisions and actions relating to, among other things, cost reduction, growth, profitability improvement initiatives, and other events outside of normal, or "core," business and operations, by considering alternative financial measures not prepared in accordance with U.S. GAAP. In our evaluation of results from time to time, we exclude items that do not arise directly from core operations, such as non-cash asset impairment charges, out-of-period adjustments, legal matters, gains and losses on dealership franchise or real estate transactions, and catastrophic events, such as hailstorms, hurricanes, and snow storms. Because these non-core charges and gains materially affect the Company's financial condition or results in the specific period in which they are recognized, management also evaluates, and makes resource allocation and performance evaluation decisions based on, the related non-GAAP measures excluding such items. This includes evaluating measures such as adjusted selling, general and administrative expenses, adjusted net income, adjusted diluted earnings per share, and constant currency. These adjusted measures are not measures of financial performance under U.S. GAAP, but are instead considered non-GAAP financial performance measures. Non-GAAP measures do not have definitions under U.S. GAAP and may be defined differently by, and not be comparable to similarly titled measures used by, other companies. As a result, any non-GAAP financial measures considered and evaluated by management are reviewed in conjunction with a review of the most directly comparable measures calculated in accordance with U.S. GAAP. We caution investors not to place undue reliance on such non-GAAP measures, but also to consider them with the most directly comparable U.S. GAAP measures.

In addition to using such non-GAAP measures to evaluate results in a specific period, management believes that such measures may provide more complete and consistent comparisons of operational performance on a period-over-period historical basis and a better indication of expected future trends. Our management also uses these adjusted measures in conjunction with U.S. GAAP financial measures to assess our business, including communication with our Board of Directors, investors, and industry analysts concerning financial performance. We disclose these non-GAAP measures, and the related reconciliations, because we believe investors use these metrics in evaluating longer-term period-over-period performance, and to allow investors to better understand and evaluate the information used by management to assess operating performance. The exclusion of certain expenses in the calculation of non-GAAP financial measures should not be construed as an inference that these costs are unusual or infrequent. We anticipate excluding these expenses in the future presentation of our non-GAAP financial measures.

In addition, we evaluate our results of operations on both an as reported and a constant currency basis. The constant currency presentation, which is a non-GAAP measure, excludes the impact of fluctuations in foreign currency exchange rates. We believe providing constant currency information provides valuable supplemental information regarding our underlying business and results of operations, consistent with how we evaluate our performance. We calculate constant currency percentages by converting our current period reported results for entities reporting in currencies other than U.S. dollars using comparative period exchange rates rather than the actual exchange rates in effect during the respective periods. The constant currency performance measures should not be considered a substitute for, or superior to, the measures of financial performance prepared in accordance with U.S. GAAP. The Same Store amounts presented include the results of dealerships for the identical months in each period presented in comparison, commencing with the first full month in which the dealership was owned by us and, in the case of dispositions, ending with the last full month it was owned by us. Same Store results also include the activities of our corporate headquarters.

Certain amounts in the financial statements may not compute due to rounding. All computations have been calculated using unrounded amounts for all periods presented.

Investor contacts:Sheila RothManager, Investor Relations Group 1 Automotive, Inc. 713-647-5741 | sroth@group1auto.com

Media contacts:Pete DeLongchampsSenior Vice President, Manufacturer Relations, Financial Services and Public Affairs Group 1 Automotive, Inc. 713-647-5770 | pdelongchamps@group1auto.comor Clint WoodsPierpont Communications, Inc. 713-627-2223 | cwoods@piercom.com

Group 1 Automotive, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In millions, except per share data)



Three Months Ended September 30,

2021 2020 Increase/ % Change (Decrease)

REVENUES:

New vehicle retail sales $1,576.2 $1,580.7 $(4.5) (0.3) %

Used vehicle retail sales 1,248.3 867.2 381.1 44.0 %

Used vehicle wholesale sales109.4 86.7 22.7 26.2 %

Parts and service sales 427.6 375.6 52.0 13.8 %

Finance, insurance and 147.7 129.5 18.2 14.1 %other, net

Total revenues 3,509.2 3,039.6 469.6 15.4 %

COST OF SALES:

New vehicle retail sales 1,408.5 1,481.5 (72.9) (4.9) %

Used vehicle retail sales 1,149.8 796.1 353.7 44.4 %

Used vehicle wholesale sales101.8 80.7 21.0 26.0 %

Parts and service sales 195.9 169.4 26.6 15.7 %

Total cost of sales 2,856.0 2,527.7 328.3 13.0 %

GROSS PROFIT 653.2 512.0 141.3 27.6 %

Selling, general and 385.1 305.8 79.3 25.9 %administrative expenses

Depreciation and 19.6 19.1 0.5 2.5 %amortization expense

Asset impairments 1.7 - 1.7 - %

INCOME FROM OPERATIONS 246.8 187.1 59.7 31.9 %

Floorplan interest expense 4.8 8.1 (3.3) (40.9)%

Other interest expense, net 13.2 14.6 (1.5) (10.1)%

Loss on extinguishment of 3.8 3.3 0.5 15.2 %debt

INCOME BEFORE INCOME TAXES 225.0 161.0 64.0 39.8 %

Provision for income taxes 52.9 34.6 18.3 53.1 %

NET INCOME $172.1 $126.4 $45.7 36.1 %

Less: Earnings allocated to 5.7 4.5 1.2 25.5 %participating securities

Net income available to $166.4 $121.9 $44.5 36.5 %diluted common shares

DILUTED EARNINGS PER SHARE $9.33 $6.83 $2.50 36.5 %

Weighted average dilutive 17.8 17.8 - - %common shares outstanding

Weighted average 0.6 0.7 (0.1) (7.7) %participating securities

Total weighted average 18.4 18.5 (0.1) (0.3) %shares

Effective tax rate 23.5 %21.5 %2.0 %

Group 1 Automotive, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In millions, except per share data)



Nine Months Ended September 30,

2021 2020 Increase/ % Change (Decrease)

REVENUES:

New vehicle retail sales $4,974.9 $3,985.5 $989.3 24.8 %

Used vehicle retail sales 3,342.7 2,287.4 1,055.3 46.1 %

Used vehicle wholesale sales286.0 221.9 64.1 28.9 %

Parts and service sales 1,180.4 1,028.2 152.2 14.8 %

Finance, insurance and 435.7 338.7 97.1 28.7 %other, net

Total revenues 10,219.7 7,861.7 2,358.0 30.0 %

COST OF SALES:

New vehicle retail sales 4,542.9 3,759.7 783.2 20.8 %

Used vehicle retail sales 3,075.5 2,127.9 947.5 44.5 %

Used vehicle wholesale sales265.3 212.9 52.4 24.6 %

Parts and service sales 530.9 473.9 57.0 12.0 %

Total cost of sales 8,414.5 6,574.4 1,840.1 28.0 %

GROSS PROFIT 1,805.1 1,287.2 517.9 40.2 %

Selling, general and 1,080.3 870.9 209.3 24.0 %administrative expenses

Depreciation and 57.9 56.5 1.4 2.4 %amortization expense

Asset impairments 1.7 23.8 (22.1) (92.8)%

INCOME FROM OPERATIONS 665.3 336.0 329.3 98.0 %

Floorplan interest expense 21.2 31.1 (9.9) (32.0)%

Other interest expense, net 40.7 49.0 (8.3) (17.0)%

Loss on extinguishment of 3.8 13.7 (9.9) (72.0)%debt

INCOME BEFORE INCOME TAXES 599.6 242.2 357.4 147.6 %

Provision for income taxes 134.6 55.8 78.8 141.1 %

NET INCOME $465.0 $186.4 $278.7 149.5 %

Less: Earnings allocated to 15.6 6.7 8.9 132.8 %participating securities

Net income available to $449.4 $179.7 $269.7 150.1 %diluted common shares

DILUTED EARNINGS PER SHARE $25.21 $10.08 $15.12 150.0 %

Weighted average dilutive 17.8 17.8 - 0.1 %common shares outstanding

Weighted average 0.6 0.7 - (6.8) %participating securities

Total weighted average 18.5 18.5 - (0.2) %shares

Effective tax rate 22.4 %23.1 %(0.6) %

Group 1 Automotive, Inc.

Additional Information - Consolidated

(Unaudited)



September 30,December 31,Increase/ % Change 2021 2020 (Decrease)

SELECTED BALANCE SHEET INFORMATION:

(In millions)

Cash and cash $296.9 $87.3 $209.7 240.3 %equivalents

Inventories, net $850.8 $1,468.0 $(617.2) (42.0)%

Floorplan notes $317.9 $1,095.0 $(777.1) (71.0)%payable, net ^(1)

Total debt $1,333.9 $1,351.4 $(17.5) (1.3) %

Total equity $1,918.6 $1,449.6 $469.0 32.4 %

^(1) Amounts are net of offset accounts of $334.7 and $176.4, respectively.

Three Months Ended Nine Months Ended September 30, September 30,

2021 2020 2021 2020

NEW VEHICLE UNIT SALES GEOGRAPHIC MIX:

United States 74.0 % 70.2 % 77.6 %73.2 %

United Kingdom 21.0 % 26.8 % 18.6 %23.0 %

Brazil 5.0 % 3.0 % 3.8 %3.8 %



NEW VEHICLE UNIT SALES BRAND MIX:

Toyota/Lexus 26.5 % 22.7 % 26.1 %22.9 %

Volkswagen/Audi/Porsche/ 16.4 % 17.7 % 15.3 %15.6 %SEAT/SKODA

BMW/MINI 12.6 % 11.8 % 11.6 %11.4 %

Honda/Acura 9.4 % 8.5 % 9.8 %9.2 %

Ford/Lincoln 7.8 % 10.1 % 8.3 %10.7 %

Chevrolet/GMC/Buick/ 5.9 % 7.1 % 6.6 %7.4 %Cadillac

Nissan 5.5 % 4.7 % 5.5 %5.3 %

Hyundai/Kia/Genesis 5.1 % 4.3 % 5.2 %4.4 %

Mercedes-Benz/smart/ 3.9 % 5.3 % 4.5 %5.3 %Sprinter

Chrysler/Dodge/Jeep/RAM 3.7 % 4.0 % 3.9 %4.0 %

Jaguar/Land Rover 1.6 % 2.5 % 1.8 %2.3 %

Other 1.5 % 1.3 % 1.4 %1.5 %

100.0 % 100.0 % 100.0 %100.0 %

September 30, December 31, September 30, 2021 2020 2020

DAYS' SUPPLY IN INVENTORY ^(1):

Consolidated

New vehicle inventory 14 52 41

Used vehicle inventory 30 37 35

U.S.

New vehicle inventory 11 48 52

Used vehicle inventory 25 32 33

U.K.

New vehicle inventory 19 102 20

Used vehicle inventory 42 52 37

Brazil

New vehicle inventory 23 27 41

Used vehicle inventory 49 51 44

^(1) Days' supply in inventory is calculated based on inventory unit levels and 30-day total unit sales volumes, both at the end of each reporting period.

Group 1 Automotive, Inc.

Reported Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Three Months Ended September 30,

Currency Impact Constant Increase/ on 2021 2020 % Change Currency (Decrease) Current % Period Change Results

Revenues:

New vehicle $1,576.2 $1,580.7 $(4.5) (0.3) %$21.4 (1.6) %retail sales

Used vehicle 1,248.3 867.2 381.1 44.0 %21.4 41.5 %retail sales

Used vehicle 109.4 86.7 22.7 26.2 %2.5 23.3 %wholesale sales

Total used 1,357.7 953.9 403.8 42.3 %23.9 39.8 %

Parts and 427.6 375.6 52.0 13.8 %4.3 12.7 %service sales

F&I, net 147.7 129.5 18.2 14.1 %1.0 13.3 %

Total revenues$3,509.2 $3,039.6 $469.6 15.4 %$50.8 13.8 %

Gross profit:

New vehicle $167.7 $99.2 $68.4 69.0 %$1.5 67.4 %retail sales

Used vehicle 98.6 71.1 27.5 38.6 %1.5 36.5 %retail sales

Used vehicle 7.6 5.9 1.7 28.1 %0.3 23.4 %wholesale sales

Total used 106.2 77.0 29.1 37.8 %1.8 35.5 %

Parts and 231.7 206.2 25.5 12.3 %2.6 11.1 %service sales

F&I, net 147.7 129.5 18.2 14.1 %1.0 13.3 %

Total gross $653.2 $512.0 $141.3 27.6 %$7.0 26.2 %profit

Gross margin:

New vehicle 10.6 %6.3 %4.4 % retail sales

Used vehicle 7.9 %8.2 %(0.3) % retail sales

Used vehicle 7.0 %6.9 %0.1 % wholesale sales

Total used 7.8 %8.1 %(0.3) %

Parts and 54.2 %54.9 %(0.7) % service sales

Total gross 18.6 %16.8 %1.8 % margin

Units sold:

Retail new 35,126 39,869 (4,743) (11.9)% vehicles sold

Retail used 43,240 38,347 4,893 12.8 % vehicles sold

Wholesale used 11,261 11,581 (320) (2.8) % vehicles sold

Total used 54,501 49,928 4,573 9.2 %

Average sales price per unit sold:

New vehicle $44,872 $39,647 $5,226 13.2 %$609 11.6 %retail

Used vehicle $28,870 $22,614 $6,256 27.7 %$494 25.5 %retail

Gross profit per unit sold:

New vehicle $4,773 $2,489 $2,285 91.8 %$43 90.1 %retail sales

Used vehicle $2,279 $1,854 $425 23.0 %$36 21.0 %retail sales

Used vehicle $676 $513 $163 31.7 %$25 26.9 %wholesale sales

Total used $1,948 $1,543 $405 26.3 %$33 24.1 %

F&I PRU $1,885 $1,655 $229 13.9 %$13 13.1 %

Other:

SG&A expenses $385.1 $305.8 $79.3 25.9 %$4.5 24.5 %

Adjusted SG&A $383.9 $305.8 $78.1 25.5 %$4.5 24.1 %expenses ^(1)

SG&A as % gross 59.0 %59.7 %(0.8) % profit

Adjusted SG&A as % gross profit ^58.8 %59.7 %(1.0) % (1)

Operating margin7.0 %6.2 %0.9 % %

Adjusted operating margin7.1 %6.2 %1.0 % % ^(1)

Pretax margin % 6.4 %5.3 %1.1 %

Adjusted pretax 6.6 %5.4 %1.2 % margin % ^(1)

Floorplan expense:

Floorplan $4.8 $8.1 $(3.3) (40.9)%$0.1 (42.4)%interest expense

Less: Floorplan 12.2 12.7 (0.5) (4.0) %- (4.0) %assistance^ (2)

Net floorplan $(7.4) $(4.6) $(2.8) $0.1 expense

Adjusted floorplan $5.7 $8.1 $(2.4) (30.0)%$0.1 (31.5)%interest expense ^ (1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

^(2) Floorplan assistance is included within New vehicle retail Gross profitabove and New vehicle retail Cost of sales in our Condensed ConsolidatedStatements of Operations.

Group 1 Automotive, Inc.

Reported Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Nine Months Ended September 30,

Currency Impact Constant Increase/ on 2021 2020 % Change Currency (Decrease) Current % Period Change Results

Revenues:

New vehicle $4,974.9 $3,985.5 $989.3 24.8 %$57.2 23.4 %retail sales

Used vehicle 3,342.7 2,287.4 1,055.3 46.1 %58.3 43.6 %retail sales

Used vehicle 286.0 221.9 64.1 28.9 %6.9 25.8 %wholesale sales

Total 3,628.7 2,509.3 1,119.4 44.6 %65.2 42.0 %used

Parts and service 1,180.4 1,028.2 152.2 14.8 %10.8 13.7 %sales

F&I, net 435.7 338.7 97.1 28.7 %2.9 27.8 %

Total $10,219.7 $7,861.7 $2,358.0 30.0 %$136.928.3 %revenues

Gross profit:

New vehicle $432.0 $225.8 $206.2 91.3 %$3.4 89.8 %retail sales

Used vehicle 267.3 159.5 107.8 67.6 %3.7 65.2 %retail sales

Used vehicle 20.7 9.0 11.7 130.3 %0.4 125.4 %wholesale sales

Total 287.9 168.5 119.5 70.9 %4.2 68.4 %used

Parts and service 649.5 554.2 95.2 17.2 %6.8 15.9 %sales

F&I, net 435.7 338.7 97.1 28.7 %2.9 27.8 %

Total gross $1,805.1 $1,287.2 $517.9 40.2 %$17.3 38.9 %profit

Gross margin:

New vehicle 8.7 %5.7 %3.0 % retail sales

Used vehicle 8.0 %7.0 %1.0 % retail sales

Used vehicle 7.2 %4.0 %3.2 % wholesale sales

Total 7.9 %6.7 %1.2 % used

Parts and service 55.0 %53.9 %1.1 % sales

Total gross 17.7 %16.4 %1.3 % margin

Units sold:

Retail new vehicles 114,882 101,701 13,181 13.0 % sold

Retail used 126,301 105,665 20,636 19.5 % vehicles sold

Wholesale used 32,038 30,970 1,068 3.4 % vehicles sold

Total 158,339 136,635 21,704 15.9 % used

Average sales price per unit sold:

New vehicle $43,304 $39,189 $4,115 10.5 %$498 9.2 %retail

Used vehicle $26,466 $21,648 $4,818 22.3 %$462 20.1 %retail

Gross profit per unit sold:

New vehicle $3,760 $2,220 $1,540 69.3 %$29 68.0 %retail sales

Used vehicle $2,116 $1,510 $607 40.2 %$29 38.2 %retail sales

Used vehicle $645 $290 $355 122.6 %$14 117.9 %wholesale sales

Total $1,819 $1,233 $585 47.5 %$26 45.3 %used

F&I PRU $1,807 $1,633 $174 10.6 %$12 9.9 %

Other:

SG&A $1,080.3 $870.9 $209.3 24.0 %$11.7 22.7 %expenses

Adjusted SG&A $1,078.9 $858.3 $220.7 25.7 %$11.6 24.4 %expenses ^ (1)

SG&A as % gross 59.8 %67.7 %(7.8) % profit

Adjusted SG&A as % gross 59.8 %66.7 %(6.9) % profit ^ (1)

Operating 6.5 %4.3 %2.2 % margin %

Adjusted operating 6.5 %4.7 %1.8 % margin % ^ (1)

Pretax 5.9 %3.1 %2.8 % margin %

Adjusted pretax 5.9 %3.7 %2.2 % margin % ^ (1)

Floorplan expense:

Floorplan interest $21.2 $31.1 $(9.9) (32.0)%$0.3 (33.1)%expense

Less: Floorplan 40.6 33.0 7.6 22.9 %- 22.9 %assistance ^(2)

Net floorplan $(19.5) $(1.9) $(17.5) $0.3 expense

Adjusted floorplan interest $19.7 $31.1 $(11.4) (36.6)%$0.3 (37.7)%expense ^ (1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

^(2) Floorplan assistance is included within New vehicle retail Gross profitabove and New vehicle retail Cost of sales in our Condensed ConsolidatedStatements of Operations.

Group 1 Automotive, Inc.

Reported Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Three Months Ended September 30,

2021 2020 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $1,208.5 $1,172.2 $36.3 3.1 %

Used vehicle retail sales 902.3 608.2 294.1 48.4 %

Used vehicle wholesale 68.0 44.8 23.2 51.8 %sales

Total used 970.3 653.0 317.4 48.6 %

Parts and service sales 353.1 306.4 46.7 15.3 %

F&I, net 130.5 113.0 17.4 15.4 %

Total revenues $2,662.4 $2,244.6 $417.8 18.6 %

Gross profit:

New vehicle retail sales $140.0 $79.8 $60.2 75.5 %

Used vehicle retail sales 73.1 52.8 20.2 38.3 %

Used vehicle wholesale 3.2 3.7 (0.5) (13.6)%sales

Total used 76.3 56.6 19.7 34.9 %

Parts and service sales 188.2 166.3 21.9 13.2 %

F&I, net 130.5 113.0 17.4 15.4 %

Total gross profit $535.0 $415.7 $119.3 28.7 %

Gross margin:

New vehicle retail sales 11.6 %6.8 %4.8 %

Used vehicle retail sales 8.1 %8.7 %(0.6) %

Used vehicle wholesale 4.8 %8.3 %(3.6) % sales

Total used 7.9 %8.7 %(0.8) %

Parts and service sales 53.3 %54.3 %(1.0) %

Total gross margin 20.1 %18.5 %1.6 %

Units sold:

Retail new vehicles sold 25,984 27,980 (1,996) (7.1) %

Retail used vehicles sold 31,704 27,694 4,010 14.5 %

Wholesale used vehicles 6,758 6,195 563 9.1 %sold

Total used 38,462 33,889 4,573 13.5 %

Average sales price per unit sold:

New vehicle retail $46,510 $41,895 $4,614 11.0 %

Used vehicle retail $28,461 $21,961 $6,500 29.6 %

Gross profit per unit sold:

New vehicle retail sales $5,388 $2,852 $2,536 88.9 %

Used vehicle retail sales $2,305 $1,908 $397 20.8 %

Used vehicle wholesale $478 $603 $(125) (20.8)%sales

Total used $1,984 $1,669 $315 18.9 %

F&I PRU $2,261 $2,030 $231 11.4 %

Other:

SG&A expenses $308.7 $245.2 $63.5 25.9 %

Adjusted SG&A expenses ^(1)$308.1 $245.2 $62.8 25.6 %

SG&A as % gross profit 57.7 %59.0 %(1.3) %

Adjusted SG&A as % gross 57.6 %59.0 %(1.4) % profit ^(1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Reported Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Nine Months Ended September 30,

2021 2020 Increase/ % (Decrease) Change

Revenues:

New vehicle retail sales $3,958.9 $3,076.3 $882.6 28.7 %

Used vehicle retail sales 2,481.7 1,719.4 762.3 44.3 %

Used vehicle wholesale 179.6 122.1 57.5 47.0 %sales

Total used 2,661.3 1,841.5 819.8 44.5 %

Parts and service sales 982.0 865.2 116.8 13.5 %

F&I, net 389.4 300.2 89.2 29.7 %

Total revenues $7,991.6 $6,083.3 $1,908.4 31.4 %

Gross profit:

New vehicle retail sales $362.6 $183.6 $179.0 97.5 %

Used vehicle retail sales 210.7 125.7 85.0 67.6 %

Used vehicle wholesale 13.6 6.2 7.4 119.9%sales

Total used 224.3 131.9 92.4 70.0 %

Parts and service sales 535.1 465.4 69.7 15.0 %

F&I, net 389.4 300.2 89.2 29.7 %

Total gross profit $1,511.4 $1,081.1 $430.3 39.8 %

Gross margin:

New vehicle retail sales 9.2 %6.0 %3.2 %

Used vehicle retail sales 8.5 %7.3 %1.2 %

Used vehicle wholesale 7.6 %5.0 %2.5 % sales

Total used 8.4 %7.2 %1.3 %

Parts and service sales 54.5 %53.8 %0.7 %

Total gross margin 18.9 %17.8 %1.1 %

Units sold:

Retail new vehicles sold 89,183 74,412 14,771 19.9 %

Retail used vehicles sold 96,143 81,494 14,649 18.0 %

Wholesale used vehicles 19,804 18,372 1,432 7.8 %sold

Total used 115,947 99,866 16,081 16.1 %

Average sales price per unit sold:

New vehicle retail $44,391 $41,342 $3,049 7.4 %

Used vehicle retail $25,813 $21,099 $4,714 22.3 %

Gross profit per unit sold:

New vehicle retail sales $4,066 $2,467 $1,599 64.8 %

Used vehicle retail sales $2,192 $1,543 $649 42.1 %

Used vehicle wholesale $685 $336 $349 104.0%sales

Total used $1,934 $1,321 $614 46.5 %

F&I PRU $2,101 $1,926 $176 9.1 %

Other:

SG&A expenses $883.0 $706.0 $177.0 25.1 %

Adjusted SG&A expenses ^(1)$882.8 $695.4 $187.3 26.9 %

SG&A as % gross profit 58.4 %65.3 %(6.9) %

Adjusted SG&A as % gross 58.4 %64.3 %(5.9) % profit ^(1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Reported Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Three Months Ended September 30,

Currency Impact Constant Increase/ on 2021 2020 % Change Currency (Decrease) Current % Period Change Results

Revenues:

New vehicle retail$305.4 $376.6 $(71.2) (18.9)%$19.8 (24.2)%sales

Used vehicle 328.0 248.1 80.0 32.2 %20.9 23.8 %retail sales

Used vehicle 38.1 39.5 (1.4) (3.6) %2.4 (9.8) %wholesale sales

Total used 366.1 287.6 78.5 27.3 %23.3 19.2 %

Parts and service 63.4 61.3 2.1 3.4 %4.0 (3.2) %sales

F&I, net 15.6 15.4 0.2 1.4 %1.0 (5.1) %

Total revenues $750.4 $740.8 $9.6 1.3 %$48.2 (5.2) %

Gross profit:

New vehicle retail$21.5 $16.8 $4.7 27.9 %$1.4 19.7 %sales

Used vehicle 23.9 17.2 6.7 39.0 %1.5 30.3 %retail sales

Used vehicle 4.1 2.0 2.1 106.1 %0.3 92.7 %wholesale sales

Total used 28.1 19.2 8.9 46.0 %1.8 36.8 %

Parts and service 38.5 36.2 2.3 6.3 %2.5 (0.5) %sales

F&I, net 15.6 15.4 0.2 1.4 %1.0 (5.1) %

Total gross $103.7 $87.6 $16.0 18.3 %$6.6 10.8 %profit

Gross margin:

New vehicle retail7.0 %4.5 %2.6 % sales

Used vehicle 7.3 %6.9 %0.4 % retail sales

Used vehicle 10.9 %5.1 %5.8 % wholesale sales

Total used 7.7 %6.7 %1.0 %

Parts and service 60.8 %59.1 %1.6 % sales

Total gross 13.8 %11.8 %2.0 % margin

Units sold:

Retail new 7,381 10,689 (3,308) (30.9)% vehicles sold

Retail used 10,810 10,101 709 7.0 % vehicles sold

Wholesale used 4,202 5,104 (902) (17.7)% vehicles sold

Total used 15,012 15,205 (193) (1.3) %

Average sales price per unit sold:

New vehicle retail$41,370 $35,230 $6,140 17.4 %$2,6779.8 %

Used vehicle $30,346 $24,561 $5,785 23.6 %$1,93215.7 %retail

Gross profit per unit sold:

New vehicle retail$2,910 $1,571 $1,338 85.2 %$185 73.4 %sales

Used vehicle $2,215 $1,706 $509 29.9 %$139 21.7 %retail sales

Used vehicle $987 $394 $593 NM $64 134.0 %wholesale sales

Total used $1,872 $1,266 $606 47.9 %$118 38.6 %

F&I PRU $857 $739 $117 15.9 %$55 8.5 %

Other:

SG&A expenses $67.6 $53.7 $13.9 25.9 %$4.2 18.0 %

Adjusted SG&A $67.0 $53.7 $13.3 24.9 %$4.2 17.0 %expenses ^(1)

SG&A as % gross 65.2 %61.2 %3.9 % profit

Adjusted SG&A as %64.6 %61.2 %3.4 % gross profit ^(1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

NM - Not Meaningful

Group 1 Automotive, Inc.

Reported Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Nine Months Ended September 30,

Currency Impact Constant Increase/ on 2021 2020 % Change Currency (Decrease) Current % Period Change Results

Revenues:

New vehicle $869.7 $800.1 $69.6 8.7 % $70.1 (0.1) %retail sales

Used vehicle 820.5 529.7 290.8 54.9 % 62.0 43.2 %retail sales

Used vehicle 98.4 90.6 7.8 8.7 % 7.4 0.5 %wholesale sales

Total 919.0 620.3 298.7 48.1 % 69.4 37.0 %used

Parts and service 170.2 139.5 30.6 22.0 % 12.8 12.8 %sales

F&I, net 41.9 35.1 6.8 19.5 % 3.3 10.0 %

Total $2,000.7 $1,595.0 $405.7 25.4 % $156.215.6 %revenues

Gross profit:

New vehicle $54.6 $34.7 $19.9 57.4 % $4.5 44.4 %retail sales

Used vehicle 52.9 31.3 21.7 69.3 % 4.0 56.6 %retail sales

Used vehicle 6.5 2.3 4.2 NM 0.5 NM wholesale sales

Total 59.5 33.6 25.8 76.9 % 4.4 63.7 %used

Parts and service 102.1 78.5 23.6 30.1 % 7.7 20.3 %sales

F&I, net 41.9 35.1 6.8 19.5 % 3.3 10.0 %

Total gross $258.1 $181.9 $76.2 41.9 % $19.9 30.9 %profit

Gross margin:

New vehicle 6.3 %4.3 %1.9 % retail sales

Used vehicle 6.5 %5.9 %0.5 % retail sales

Used vehicle 6.6 %2.6 %4.0 % wholesale sales

Total 6.5 %5.4 %1.1 % used

Parts and service 60.0 %56.3 %3.7 % sales

Total gross 12.9 %11.4 %1.5 % margin

Units sold:

Retail new vehicles 21,316 23,424 (2,108) (9.0)% sold

Retail used 28,416 22,165 6,251 28.2 % vehicles sold

Wholesale used 11,464 11,517 (53) (0.5)% vehicles sold

Total 39,880 33,682 6,198 18.4 % used

Average sales price per unit sold:

New vehicle $40,800 $34,157 $6,644 19.5 % $3,2889.8 %retail

Used vehicle $28,876 $23,899 $4,977 20.8 % $2,18111.7 %retail

Gross profit per unit sold:

New vehicle $2,563 $1,482 $1,081 72.9 % $211 58.7 %retail sales

Used vehicle $1,863 $1,411 $452 32.0 % $140 22.1 %retail sales

Used vehicle $568 $203 $365 NM $41 NM wholesale sales

Total $1,491 $998 $493 49.4 % $111 38.2 %used

F&I PRU $842 $769 $73 9.5 % $67 0.8 %

Other:

SG&A $173.3 $141.8 $31.4 22.2 % $13.5 12.6 %expenses

Adjusted SG&A $172.1 $140.6 $31.5 22.4 % $13.4 12.9 %expenses ^ (1)

SG&A as % gross 67.1 %78.0 %(10.8) % profit

Adjusted SG&A as % gross 66.7 %77.3 %(10.6) % profit ^ (1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

NM - Not Meaningful

Group 1 Automotive, Inc.

Reported Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Three Months Ended September 30,

Currency Impact Constant Increase/ on 2021 2020 % Currency (Decrease) Change Current % Period Change Results

Revenues:

New vehicle $62.3 $31.9 $ 30.5 95.6 %$1.6 90.5 % retail sales

Used vehicle 18.0 10.9 7.0 64.6 %0.5 60.3 % retail sales

Used vehicle wholesale 3.3 2.4 0.9 36.7 %0.1 33.2 % sales

Total used 21.3 13.4 7.9 59.5 %0.6 55.3 %

Parts and 11.1 8.0 3.2 39.9 %0.3 36.2 % service sales

F&I, net 1.7 1.1 0.6 54.5 %- 50.1 %

Total $96.4 $54.3 $ 42.2 77.7 %$2.5 73.0 % revenues

Gross profit:

New vehicle $6.2 $2.6 $ 3.5 134.6%$0.2 128.6% retail sales

Used vehicle 1.5 1.0 0.5 49.4 %- 45.2 % retail sales

Used vehicle wholesale 0.2 0.2 - 21.5 %- 18.1 % sales

Total used 1.8 1.2 0.5 44.9 %- 40.9 %

Parts and 4.9 3.7 1.2 33.3 %0.1 29.7 % service sales

F&I, net 1.7 1.1 0.6 54.5 %- 50.1 %

Total gross $14.5 $8.6 $ 5.9 68.7 %$0.4 64.1 % profit

Gross margin:

New vehicle 9.9 %8.3 %1.6 % retail sales

Used vehicle 8.4 %9.3 %(0.9) % retail sales

Used vehicle wholesale 7.1 %8.0 %(0.9) % sales

Total used 8.2 %9.1 %(0.8) %

Parts and 43.9 %46.1 %(2.2) % service sales

Total gross 15.0 %15.8 %(0.8) % margin

Units sold:

Retail new 1,761 1,200 561 46.8 % vehicles sold

Retail used 726 552 174 31.5 % vehicles sold

Wholesale used301 282 19 6.7 % vehicles sold

Total used 1,027 834 193 23.1 %

Average sales price per unit sold:

New vehicle $35,394 $26,558 $ 8,836 33.3 %$924 29.8 % retail

Used vehicle $24,732 $19,766 $ 4,967 25.1 %$644 21.9 % retail

Gross profit per unit sold:

New vehicle $3,510 $2,196 $ 1,314 59.8 %$90 55.7 % retail sales

Used vehicle $2,090 $1,840 $ 250 13.6 %$58 10.4 % retail sales

Used vehicle wholesale $792 $696 $ 96 13.8 %$22 10.7 % sales

Total used $1,709 $1,453 $ 256 17.6 %$47 14.4 %

F&I PRU $675 $621 $ 55 8.9 %$19 5.7 %

Other:

SG&A expenses $8.8 $6.9 $ 2.0 28.5 %$0.2 25.0 %

SG&A as % 60.9 %79.9 %(19.0) % gross profit

Group 1 Automotive, Inc.

Reported Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Nine Months Ended September 30,

Currency Constant Impact on Increase/ Currency 2021 2020 % ChangeCurrent % (Decrease) Period Change Results

Revenues:

New vehicle $146.3 $109.1 $ 37.1 34.0 %$(12.9) 45.9 %retail sales

Used vehicle 40.5 38.3 2.1 5.6 %(3.7) 15.2 %retail sales

Used vehicle 8.0 9.2 (1.2) (12.8)%(0.5) (7.0) %wholesale sales

Total 48.4 47.5 1.0 2.0 %(4.2) 10.8 %used

Parts and service 28.2 23.4 4.8 20.4 %(1.9) 28.6 %sales

F&I, net 4.4 3.4 1.1 31.1 %(0.4) 42.8 %

Total $227.3 $183.4 $ 43.9 23.9 %$(19.4) 34.5 %revenues

Gross profit:

New vehicle $14.8 $7.5 $ 7.2 95.9 %$(1.1) 111.0 %retail sales

Used vehicle 3.6 2.5 1.1 44.2 %(0.2) 54.1 %retail sales

Used vehicle 0.6 0.5 0.1 26.5 %- 34.7 %wholesale sales

Total 4.2 3.0 1.2 41.3 %(0.3) 51.0 %used

Parts and service 12.3 10.3 1.9 18.8 %(0.8) 26.8 %sales

F&I, net 4.4 3.4 1.1 31.1 %(0.4) 42.8 %

Total gross $35.7 $24.2 $ 11.5 47.3 %$(2.6) 58.1 %profit

Gross margin:

New vehicle 10.1 %6.9 %3.2 % retail sales

Used vehicle 8.9 %6.5 %2.4 % retail sales

Used vehicle 7.6 %5.2 %2.4 % wholesale sales

Total 8.7 %6.3 %2.4 % used

Parts and service 43.5 %44.1 %(0.6) % sales

Total gross 15.7 %13.2 %2.5 % margin

Units sold:

Retail new 4,383 3,865 518 13.4 % vehicles sold

Retail used 1,742 2,006 (264) (13.2)% vehicles sold

Wholesale used 770 1,081 (311) (28.8)% vehicles sold

Total 2,512 3,087 (575) (18.6)% used

Average sales price per unit sold:

New vehicle $33,370 $28,238 $ 5,133 18.2 %$(2,947)28.6 %retail

Used vehicle $23,222 $19,100 $ 4,122 21.6 %$(2,106)32.6 %retail

Gross profit per unit sold:

New vehicle $3,368 $1,950 $ 1,419 72.8 %$(260) 86.1 %retail sales

Used vehicle $2,067 $1,245 $ 822 66.0 %$(143) 77.5 %retail sales

Used vehicle $789 $444 $ 345 77.6 %$(51) 89.1 %wholesale sales

Total $1,676 $965 $ 711 73.7 %$(115) 85.6 %used

F&I PRU $724 $576 $ 148 25.7 %$(64) 36.9 %

Other:

SG&A $24.0 $23.1 $ 0.9 4.0 %$(1.8) 11.8 %expenses

Adjusted SG&A $24.0 $22.2 $ 1.8 8.1 %$(1.8) 16.1 %expenses ^(1)

SG&A as % gross 67.3 %95.3 %(28.0) % profit

Adjusted SG&A as % gross 67.3 %91.7 %(24.4) % profit ^ (1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Same Store Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Three Months Ended September 30,

Currency Impact Constant Increase/ on 2021 2020 % Change Currency (Decrease) Current % Period Change Results

Revenues:

New vehicle $1,530.1 $1,565.4 $(35.3) (2.3) %$19.5 (3.5) %retail sales

Used vehicle 1,199.9 857.6 342.3 39.9 %18.8 37.7 %retail sales

Used vehicle 105.0 85.5 19.5 22.8 %2.3 20.1 %wholesale sales

Total 1,304.9 943.1 361.8 38.4 %21.1 36.1 %used

Parts and service 416.6 368.8 47.8 13.0 %3.9 11.9 %sales

F&I, net 145.1 128.1 17.0 13.3 %1.0 12.5 %

Total $3,396.7 $3,005.4 $391.2 13.0 %$45.5 11.5 %revenues

Gross profit:

New vehicle $163.8 $98.3 $65.4 66.6 %$1.4 65.1 %retail sales

Used vehicle 94.6 70.5 24.1 34.2 %1.4 32.2 %retail sales

Used vehicle 7.3 5.9 1.4 23.3 %0.3 18.8 %wholesale sales

Total 101.8 76.4 25.5 33.3 %1.7 31.2 %used

Parts and service 225.1 202.3 22.7 11.2 %2.3 10.1 %sales

F&I, net 145.1 128.1 17.0 13.3 %1.0 12.5 %

Total gross $635.8 $505.1 $130.6 25.9 %$6.3 24.6 %profit

Gross margin:

New vehicle 10.7 %6.3 %4.4 % retail sales

Used vehicle 7.9 %8.2 %(0.3) % retail sales

Used vehicle 6.9 %6.9 %- % wholesale sales

Total 7.8 %8.1 %(0.3) % used

Parts and service 54.0 %54.9 %(0.8) % sales

Total gross 18.7 %16.8 %1.9 % margin

Units sold:

Retail new 33,795 39,431 (5,636) (14.3)% vehicles sold

Retail used 41,219 37,819 3,400 9.0 % vehicles sold

Wholesale used 10,581 11,415 (834) (7.3) % vehicles sold

Total 51,800 49,234 2,566 5.2 % used

Average sales price per unit sold:

New vehicle $45,275 $39,700 $5,575 14.0 %$578 12.6 %retail

Used vehicle $29,110 $22,676 $6,433 28.4 %$455 26.4 %retail

Gross profit per unit sold:

New vehicle $4,846 $2,493 $2,352 94.3 %$41 92.7 %retail sales

Used vehicle $2,294 $1,863 $431 23.1 %$34 21.3 %retail sales

Used vehicle $687 $516 $171 33.1 %$25 28.1 %wholesale sales

Total $1,966 $1,551 $415 26.7 %$32 24.7 %used

F&I PRU $1,934 $1,658 $276 16.6 %$13 15.9 %

Other:

SG&A $372.2 $300.7 $71.5 23.8 %$3.9 22.5 %expenses

Adjusted SG&A $371.0 $300.7 $70.3 23.4 %$3.9 22.1 %expenses ^(1)

SG&A as % gross 58.5 %59.5 %(1.0) % profit

Adjusted SG&A as % gross 58.4 %59.5 %(1.2) % profit ^ (1)

Operating7.1 %6.2 %1.0 % margin %

Adjusted operating7.2 %6.2 %1.1 % margin % ^(1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Same Store Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)



Nine Months Ended September 30,

Currency Impact Constant Increase/ on 2021 2020 % Currency (Decrease) Change Current % Period Change Results

Revenues:

New vehicle $4,910.5 $3,947.3 $963.2 24.4 %$55.0 23.0 %retail sales

Used vehicle 3,286.3 2,260.6 1,025.7 45.4 %55.4 42.9 %retail sales

Used vehicle 281.0 219.3 61.7 28.1 %6.6 25.1 %wholesale sales

Total 3,567.3 2,479.9 1,087.4 43.8 %62.0 41.3 %used

Parts and service 1,160.2 1,011.4 148.8 14.7 %9.9 13.7 %sales

F&I, net 432.0 335.1 96.9 28.9 %2.8 28.1 %

Total $10,070.0 $7,773.7 $2,296.3 29.5 %$130.527.9 %revenues

Gross profit:

New vehicle $426.5 $223.5 $202.9 90.8 %$3.2 89.3 %retail sales

Used vehicle 262.0 158.1 103.9 65.7 %3.6 63.4 %retail sales

Used vehicle 20.2 8.9 11.3 126.8%0.4 122.0 %wholesale sales

Total 282.2 167.0 115.2 68.9 %4.0 66.6 %used

Parts and service 638.0 545.1 92.9 17.0 %6.4 15.9 %sales

F&I, net 432.0 335.1 96.9 28.9 %2.8 28.1 %

Total gross $1,778.7 $1,270.8 $507.9 40.0 %$16.4 38.7 %profit

Gross margin:

New vehicle 8.7 %5.7 %3.0 % retail sales

Used vehicle 8.0 %7.0 %1.0 % retail sales

Used vehicle 7.2 %4.1 %3.1 % wholesale sales

Total 7.9 %6.7 %1.2 % used

Parts and service 55.0 %53.9 %1.1 % sales

Total gross 17.7 %16.3 %1.3 % margin

Units sold:

Retail new 113,055 100,629 12,426 12.3 % vehicles sold

Retail used 123,905 104,166 19,739 18.9 % vehicles sold

Wholesale used 31,226 30,553 673 2.2 % vehicles sold

Total 155,131 134,719 20,412 15.2 % used

Average sales price per unit sold:

New vehicle $43,434 $39,226 $4,208 10.7 %$486 9.5 %retail

Used vehicle $26,523 $21,702 $4,821 22.2 %$447 20.2 %retail

Gross profit per unit sold:

New vehicle $3,772 $2,221 $1,551 69.8 %$28 68.5 %retail sales

Used vehicle $2,115 $1,518 $596 39.3 %$29 37.4 %retail sales

Used vehicle $647 $291 $355 121.9%$14 117.2 %wholesale sales

Total $1,819 $1,240 $579 46.7 %$26 44.6 %used

F&I PRU $1,823 $1,636 $187 11.4 %$12 10.7 %

Other:

SG&A $1,061.8 $856.1 $205.7 24.0 %$10.9 22.8 %expenses

Adjusted SG&A $1,059.4 $843.5 $215.9 25.6 %$10.8 24.3 %expenses^ (1)

SG&A as % gross 59.7 %67.4 %(7.7) % profit

Adjusted SG&A as % gross 59.6 %66.4 %(6.8) % profit ^ (1)

Operating6.5 %4.3 %2.2 % margin %

Adjusted operating6.6 %4.8 %1.8 % margin % ^(1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Same Store Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Three Months Ended September 30,

2021 2020 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $1,191.1 $1,158.8 $32.3 2.8 %

Used vehicle retail sales 894.3 600.7 293.6 48.9 %

Used vehicle wholesale 67.2 43.8 23.5 53.7 %sales

Total used 961.5 644.4 317.1 49.2 %

Parts and service sales 349.6 302.8 46.8 15.5 %

F&I, net 129.0 111.8 17.3 15.5 %

Total revenues $2,631.3 $2,217.8 $413.5 18.6 %

Gross profit:

New vehicle retail sales $138.0 $79.0 $59.1 74.8 %

Used vehicle retail sales 71.5 52.4 19.2 36.6 %

Used vehicle wholesale 3.0 3.7 (0.7) (18.8)%sales

Total used 74.5 56.1 18.5 33.0 %

Parts and service sales 186.0 164.0 21.9 13.4 %

F&I, net 129.0 111.8 17.3 15.5 %

Total gross profit $527.6 $410.8 $116.7 28.4 %

Gross margin:

New vehicle retail sales 11.6 %6.8 %4.8 %

Used vehicle retail sales 8.0 %8.7 %(0.7) %

Used vehicle wholesale 4.5 %8.4 %(4.0) % sales

Total used 7.8 %8.7 %(0.9) %

Parts and service sales 53.2 %54.2 %(1.0) %

Total gross margin 20.0 %18.5 %1.5 %

Units sold:

Retail new vehicles sold 25,522 27,626 (2,104) (7.6) %

Retail used vehicles sold 31,366 27,299 4,067 14.9 %

Wholesale used vehicles 6,611 6,076 535 8.8 %sold

Total used 37,977 33,375 4,602 13.8 %

Average sales price per unit sold:

New vehicle retail $46,670 $41,947 $4,723 11.3 %

Used vehicle retail $28,512 $22,003 $6,509 29.6 %

Gross profit per unit sold:

New vehicle retail sales $5,409 $2,858 $2,551 89.2 %

Used vehicle retail sales $2,280 $1,918 $362 18.9 %

Used vehicle wholesale $454 $608 $(154) (25.4)%sales

Total used $1,962 $1,679 $283 16.8 %

F&I PRU $2,268 $2,035 $234 11.5 %

Other:

SG&A expenses $304.5 $241.6 $62.9 26.0 %

Adjusted SG&A expenses ^(1)$303.9 $241.6 $62.3 25.8 %

SG&A as % gross profit 57.7 %58.8 %(1.1) %

Adjusted SG&A as % gross 57.6 %58.8 %(1.2) % profit ^(1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Same Store Operating Data - U.S.

(Unaudited)

(In millions, except unit data)



Nine Months Ended September 30,

2021 2020 Increase/ % (Decrease) Change

Revenues:

New vehicle retail sales $3,923.4 $3,042.0 $881.4 29.0 %

Used vehicle retail sales 2,466.2 1,696.7 769.5 45.4 %

Used vehicle wholesale 178.2 119.8 58.4 48.8 %sales

Total used 2,644.4 1,816.5 827.9 45.6 %

Parts and service sales 974.3 855.8 118.5 13.8 %

F&I, net 386.9 297.0 89.9 30.3 %

Total revenues $7,929.1 $6,011.4 $1,917.7 31.9 %

Gross profit:

New vehicle retail sales $359.0 $181.5 $177.6 97.8 %

Used vehicle retail sales 207.9 124.6 83.3 66.8 %

Used vehicle wholesale 13.1 6.1 7.0 115.2%sales

Total used 221.1 130.7 90.3 69.1 %

Parts and service sales 530.3 459.7 70.6 15.4 %

F&I, net 386.9 297.0 89.9 30.3 %

Total gross profit $1,497.3 $1,068.9 $428.4 40.1 %

Gross margin:

New vehicle retail sales 9.2 %6.0 %3.2 %

Used vehicle retail sales 8.4 %7.3 %1.1 %

Used vehicle wholesale 7.4 %5.1 %2.3 % sales

Total used 8.4 %7.2 %1.2 %

Parts and service sales 54.4 %53.7 %0.7 %

Total gross margin 18.9 %17.8 %1.1 %

Units sold:

Retail new vehicles sold 88,233 73,528 14,705 20.0 %

Retail used vehicles sold 95,456 80,270 15,186 18.9 %

Wholesale used vehicles 19,538 18,057 1,481 8.2 %sold

Total used 114,994 98,327 16,667 17.0 %

Average sales price per unit sold:

New vehicle retail $44,467 $41,372 $3,094 7.5 %

Used vehicle retail $25,836 $21,138 $4,698 22.2 %

Gross profit per unit sold:

New vehicle retail sales $4,069 $2,468 $1,601 64.9 %

Used vehicle retail sales $2,178 $1,553 $625 40.3 %

Used vehicle wholesale $673 $338 $334 98.9 %sales

Total used $1,922 $1,330 $593 44.6 %

F&I PRU $2,106 $1,931 $175 9.1 %

Other:

SG&A expenses $875.9 $695.8 $180.2 25.9 %

Adjusted SG&A expenses ^(1)$874.1 $685.2 $188.9 27.6 %

SG&A as % gross profit 58.5 %65.1 %(6.6) %

Adjusted SG&A as % gross 58.4 %64.1 %(5.7) % profit ^(1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Same Store Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Three Months Ended September 30,

Currency Impact Constant Increase/ on 2021 2020 % Change Currency (Decrease) Current % Period Change Results

Revenues:

New vehicle retail$276.6 $374.7 $(98.1) (26.2)%$17.9 (31.0)%sales

Used vehicle 287.6 246.0 41.6 16.9 %18.3 9.5 %retail sales

Used vehicle 34.5 39.3 (4.9) (12.4)%2.2 (18.0)%wholesale sales

Total used 322.1 285.4 36.7 12.9 %20.5 5.7 %

Parts and service 55.9 58.1 (2.1) (3.7) %3.6 (9.8) %sales

F&I, net 14.4 15.3 (0.9) (5.8) %0.9 (11.8)%

Total revenues $669.0 $733.4 $(64.4) (8.8) %$43.0 (14.6)%

Gross profit:

New vehicle retail$19.5 $16.7 $2.8 16.8 %$1.2 9.4 %sales

Used vehicle 21.5 17.1 4.4 25.9 %1.3 18.0 %retail sales

Used vehicle 4.0 2.0 2.0 101.1 %0.3 88.0 %wholesale sales

Total used 25.6 19.1 6.5 33.8 %1.6 25.4 %

Parts and service 34.2 34.6 (0.4) (1.2) %2.2 (7.5) %sales

F&I, net 14.4 15.3 (0.9) (5.8) %0.9 (11.8)%

Total gross $93.7 $85.7 $8.0 9.3 %$5.9 2.4 %profit

Gross margin:

New vehicle retail7.1 %4.5 %2.6 % sales

Used vehicle 7.5 %6.9 %0.5 % retail sales

Used vehicle 11.7 %5.1 %6.6 % wholesale sales

Total used 7.9 %6.7 %1.2 %

Parts and service 61.2 %59.7 %1.6 % sales

Total gross 14.0 %11.7 %2.3 % margin

Units sold:

Retail new 6,512 10,605 (4,093) (38.6)% vehicles sold

Retail used 9,127 9,968 (841) (8.4) % vehicles sold

Wholesale used 3,669 5,057 (1,388) (27.4)% vehicles sold

Total used 12,796 15,025 (2,229) (14.8)%

Average sales price per unit sold:

New vehicle retail$42,479 $35,333 $7,146 20.2 %$2,74812.4 %

Used vehicle $31,513 $24,681 $6,831 27.7 %$2,00619.6 %retail

Gross profit per unit sold:

New vehicle retail$3,000 $1,577 $1,423 90.3 %$190 78.2 %sales

Used vehicle $2,358 $1,715 $643 37.5 %$148 28.9 %retail sales

Used vehicle $1,099 $396 $703 NM $72 NM wholesale sales

Total used $1,997 $1,271 $726 57.1 %$126 47.2 %

F&I PRU $919 $742 $177 23.9 %$58 16.0 %

Other:

SG&A expenses $58.9 $52.2 $6.8 12.9 %$3.7 5.8 %

Adjusted SG&A $58.4 $52.2 $6.2 11.9 %$3.7 4.8 %expenses ^(1)

SG&A as % gross 62.9 %60.9 %2.0 % profit

Adjusted SG&A as %62.3 %60.9 %1.4 % gross profit ^(1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

NM - Not Meaningful

Group 1 Automotive, Inc.

Same Store Operating Data - U.K.

(Unaudited)

(In millions, except unit data)



Nine Months Ended September 30,

Currency Impact Constant Increase/ on 2021 2020 % Change Currency (Decrease) Current % Period Change Results

Revenues:

New vehicle $840.8 $796.1 $44.7 5.6 %$67.9 (2.9) %retail sales

Used vehicle 779.6 525.6 254.0 48.3 %59.0 37.1 %retail sales

Used vehicle 94.7 90.3 4.4 4.9 %7.1 (3.0) %wholesale sales

Total used 874.4 615.9 258.5 42.0 %66.2 31.2 %

Parts and 157.7 132.2 25.5 19.3 %11.8 10.3 %service sales

F&I, net 40.6 34.7 5.9 17.0 %3.2 7.7 %

Total $1,913.5 $1,578.9 $334.6 21.2 %$149.811.7 %revenues

Gross profit:

New vehicle $52.7 $34.5 $18.1 52.6 %$4.3 40.0 %retail sales

Used vehicle 50.5 31.0 19.5 62.8 %3.8 50.6 %retail sales

Used vehicle 6.4 2.3 4.1 NM 0.5 NM wholesale sales

Total used 56.9 33.3 23.6 70.9 %4.3 58.0 %

Parts and 95.5 75.1 20.3 27.1 %7.2 17.5 %service sales

F&I, net 40.6 34.7 5.9 17.0 %3.2 7.7 %

Total gross $245.7 $177.7 $68.0 38.3 %$19.0 27.6 %profit

Gross margin:

New vehicle 6.3 %4.3 %1.9 % retail sales

Used vehicle 6.5 %5.9 %0.6 % retail sales

Used vehicle 6.8 %2.6 %4.2 % wholesale sales

Total used 6.5 %5.4 %1.1 %

Parts and 60.5 %56.8 %3.7 % service sales

Total gross 12.8 %11.3 %1.6 % margin

Units sold:

Retail new 20,439 23,236 (2,797) (12.0)% vehicles sold

Retail used 26,707 21,890 4,817 22.0 % vehicles sold

Wholesale used 10,918 11,415 (497) (4.4) % vehicles sold

Total used 37,625 33,305 4,320 13.0 %

Average sales price per unit sold:

New vehicle $41,137 $34,262 $6,875 20.1 %$3,32210.4 %retail

Used vehicle $29,192 $24,012 $5,181 21.6 %$2,21112.4 %retail

Gross profit per unit sold:

New vehicle $2,577 $1,486 $1,091 73.4 %$212 59.1 %retail sales

Used vehicle $1,890 $1,416 $474 33.5 %$142 23.4 %retail sales

Used vehicle $590 $203 $387 NM $43 NM wholesale sales

Total used $1,513 $1,001 $513 51.2 %$113 39.9 %

F&I PRU $862 $769 $93 12.0 %$68 3.1 %

Other:

SG&A expenses $162.0 $137.3 $24.7 18.0 %$12.7 8.8 %

Adjusted SG&A $161.4 $136.1 $25.3 18.6 %$12.6 9.4 %expenses ^(1)

SG&A as % gross65.9 %77.3 %(11.4) % profit

Adjusted SG&A as % gross 65.7 %76.6 %(10.9) % profit ^(1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

NM - Not Meaningful

Group 1 Automotive, Inc.

Same Store Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Three Months Ended September 30,

Currency Impact Constant Increase/ on 2021 2020 % Currency (Decrease) Change Current % Period Change Results

Revenues:

New vehicle $62.3 $31.9 $ 30.5 95.6 %$1.6 90.5 % retail sales

Used vehicle 18.0 10.9 7.0 64.6 %0.5 60.3 % retail sales

Used vehicle wholesale 3.3 2.4 0.9 36.7 %0.1 33.2 % sales

Total used 21.3 13.4 7.9 59.5 %0.6 55.3 %

Parts and 11.1 7.9 3.2 39.9 %0.3 36.2 % service sales

F&I, net 1.7 1.1 0.6 54.5 %- 50.1 %

Total $96.4 $54.3 $ 42.2 77.7 %$2.5 73.1 % revenues

Gross profit:

New vehicle $6.2 $2.6 $ 3.5 134.6%$0.2 128.6% retail sales

Used vehicle 1.5 1.0 0.5 49.4 %- 45.2 % retail sales

Used vehicle wholesale 0.2 0.2 - 21.5 %- 18.1 % sales

Total used 1.8 1.2 0.5 44.9 %- 40.9 %

Parts and 4.9 3.7 1.2 33.4 %0.1 29.7 % service sales

F&I, net 1.7 1.1 0.6 54.5 %- 50.1 %

Total gross $14.5 $8.6 $ 5.9 68.7 %$0.4 64.1 % profit

Gross margin:

New vehicle 9.9 %8.3 %1.6 % retail sales

Used vehicle 8.4 %9.3 %(0.9) % retail sales

Used vehicle wholesale 7.1 %8.0 %(0.9) % sales

Total used 8.2 %9.1 %(0.8) %

Parts and 43.9 %46.1 %(2.2) % service sales

Total gross 15.0 %15.8 %(0.8) % margin

Units sold:

Retail new 1,761 1,200 561 46.8 % vehicles sold

Retail used 726 552 174 31.5 % vehicles sold

Wholesale used301 282 19 6.7 % vehicles sold

Total used 1,027 834 193 23.1 %

Average sales price per unit sold:

New vehicle $35,394 $26,558 $ 8,836 33.3 %$924 29.8 % retail

Used vehicle $24,732 $19,766 $ 4,967 25.1 %$644 21.9 % retail

Gross profit per unit sold:

New vehicle $3,510 $2,196 $ 1,314 59.8 %$90 55.7 % retail sales

Used vehicle $2,090 $1,840 $ 250 13.6 %$58 10.4 % retail sales

Used vehicle wholesale $792 $696 $ 96 13.8 %$22 10.7 % sales

Total used $1,709 $1,453 $ 256 17.6 %$47 14.4 %

F&I PRU $675 $621 $ 55 8.9 %$19 5.7 %

Other:

SG&A expenses $8.8 $6.9 $ 1.9 27.7 %$0.2 24.2 %

SG&A as % 60.4 %79.8 %(19.4) % gross profit

Group 1 Automotive, Inc.

Same Store Operating Data - Brazil

(Unaudited)

(In millions, except unit data)



Nine Months Ended September 30,

Currency Constant Impact on Increase/ Currency 2021 2020 % ChangeCurrent % (Decrease) Period Change Results

Revenues:

New vehicle $146.3 $109.1 $ 37.1 34.0 %$(12.9) 45.9 %retail sales

Used vehicle 40.5 38.3 2.2 5.7 %(3.7) 15.2 %retail sales

Used vehicle 8.0 9.2 (1.2) (12.8)%(0.5) (7.0) %wholesale sales

Total 48.4 47.4 1.0 2.1 %(4.2) 10.9 %used

Parts and service 28.2 23.4 4.8 20.5 %(1.9) 28.6 %sales

F&I, net 4.4 3.4 1.1 31.1 %(0.4) 42.8 %

Total $227.3 $183.4 $ 44.0 24.0 %$(19.4) 34.5 %revenues

Gross profit:

New vehicle $14.8 $7.5 $ 7.2 95.9 %$(1.1) 111.0 %retail sales

Used vehicle 3.6 2.5 1.1 44.5 %(0.2) 54.5 %retail sales

Used vehicle 0.6 0.5 0.1 26.5 %- 34.7 %wholesale sales

Total 4.2 3.0 1.2 41.6 %(0.3) 51.3 %used

Parts and service 12.3 10.3 1.9 18.8 %(0.8) 26.8 %sales

F&I, net 4.4 3.4 1.1 31.1 %(0.4) 42.8 %

Total gross $35.7 $24.2 $ 11.5 47.3 %$(2.6) 58.1 %profit

Gross margin:

New vehicle 10.1 %6.9 %3.2 % retail sales

Used vehicle 8.9 %6.5 %2.4 % retail sales

Used vehicle 7.6 %5.2 %2.4 % wholesale sales

Total 8.7 %6.3 %2.4 % used

Parts and service 43.5 %44.1 %(0.6) % sales

Total gross 15.7 %13.2 %2.5 % margin

Units sold:

Retail new 4,383 3,865 518 13.4 % vehicles sold

Retail used 1,742 2,006 (264) (13.2)% vehicles sold

Wholesale used 770 1,081 (311) (28.8)% vehicles sold

Total 2,512 3,087 (575) (18.6)% used

Average sales price per unit sold:

New vehicle $33,370 $28,238 $ 5,133 18.2 %$(2,947)28.6 %retail

Used vehicle $23,222 $19,086 $ 4,136 21.7 %$(2,107)32.7 %retail

Gross profit per unit sold:

New vehicle $3,368 $1,950 $ 1,419 72.8 %$(260) 86.1 %retail sales

Used vehicle $2,070 $1,244 $ 826 66.4 %$(143) 77.9 %retail sales

Used vehicle $789 $444 $ 345 77.6 %$(51) 89.1 %wholesale sales

Total $1,677 $964 $ 713 74.0 %$(115) 85.9 %used

F&I PRU $724 $576 $ 148 25.7 %$(64) 36.9 %

Other:

SG&A $23.9 $23.0 $ 0.9 3.7 %$(1.8) 11.4 %expenses

Adjusted SG&A $23.9 $22.1 $ 1.7 7.8 %$(1.8) 15.8 %expenses ^(1)

SG&A as % gross 66.9 %95.1 %(28.1) % profit

Adjusted SG&A as % gross 66.9 %91.4 %(24.5) % profit ^ (1)

^(1) See the section in this release titled "Reconciliation of Certain Non-GAAPFinancial Measures" for the GAAP to non-GAAP reconciliation of these figures.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Three Months Ended September 30, 2021

Non-cash CatastrophicAcquisitionLegal Asset Loss on Non-GAAP U.S. GAAPgain on events costs impairmentsextinguishmentadjusted interest matters of debt rate swaps

SG&A expenses $385.1 $- $(0.6) $(4.3) $3.7 $- $- $383.9

Asset impairments $1.7 $- $- $- $- $(1.7) $- $-

Income (loss) from $246.8 $- $0.6 $4.3 $(3.7) $1.7 $- $249.7 operations

Floorplan interest $4.8 $0.9 $- $- $- $- $- $5.7 expense

Loss on extinguishment of $3.8 $- $- $- $- $- $(3.8) $- debt



Income (loss) before$225.0 $(0.9) $0.6 $4.3 $(3.7) $1.7 $3.8 $230.9 income taxes

Less: Provision (benefit) for income52.9 (0.2) 0.1 0.9 (0.8) 0.4 - 53.4 taxes

Net income (loss) 172.1 (0.7) 0.4 3.4 (2.9) 1.3 3.8 177.5

Less: Earnings (loss) allocated to 5.7 - - 0.1 (0.1) - 0.1 5.9 participating securities

Net income (loss) available to diluted$166.4 $(0.7) $0.4 $3.3 $(2.8) $1.3 $3.7 $171.7 common shares



Diluted income (loss) per common $9.33 $(0.04) $0.02 $0.18 $(0.16)$0.07 $0.21 $9.62 share



Effective tax rate 23.5 % 23.1 %



SG&A as % gross 59.0 % 58.8 %profit ^(1)

Operating margin ^ 7.0 % 7.1 %(2)

Pretax margin ^(3) 6.4 % 6.6 %



Same Store SG&A $372.2 $- $(0.6) $(4.3) $3.7 $- $- $371.0 expenses

Same Store SG&A as %58.5 % 58.4 %gross profit ^(1)



Same Store income (loss) from $242.8 $- $0.6 $4.3 $(3.7) $1.7 $- $245.7 operations

Same Store operating7.1 % 7.2 %margin ^(2)

^(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconcilingitems above.

^(2) Adjusted operating margin excludes the impact of SG&A reconciling itemsabove and asset impairment charges.

^(3) Adjusted pretax margin excludes the impact of SG&A reconciling items,asset impairment charges, a non-cash gain on interest rate swaps and loss onextinguishment of debt .

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Three Months Ended September 30, 2020

Loss on Non-GAAP U.S. GAAPextinguishment of adjusted debt

Loss on extinguishment of debt $3.3 $ (3.3) $-



Income before income taxes $161.0 $ 3.3 $164.3

Less: Provision for income taxes 34.6 0.8 35.3

Net income 126.4 2.6 129.0

Less: Earnings allocated to 4.5 0.1 4.6 participating securities

Net income available to diluted common $121.9 $ 2.6 $124.4 shares



Diluted income per common share $6.83 $ 0.14 $6.97



Effective tax rate 21.5 % 21.5 %



Pretax margin ^(1) 5.3 % 5.4 %

^(1) Adjusted pretax margin excludes the impact of loss on extinguishment ofdebt.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Nine Months Ended September 30, 2021

Non-cash loss on CatastrophicDealership and AcquisitionLegal Asset Tax rate Loss on Non-GAAP U.S. GAAP interest events real estate costs impairmentschanges extinguishmentadjusted transactions matters of debt rate swaps

SG&A expenses $1,080.3 $- $(2.8) $1.1 $(4.3) $4.7 $- $- $ - $1,078.9

Asset impairments $1.7 $- $- $- $- $- $(1.7) $- $ - $-

Income (loss) from $665.3 $- $2.8 $(1.1) $4.3 $(4.7) $1.7 $- $ - $668.3 operations

Floorplan interest $21.2 $(1.4) $- $- $- $- $- $- $ - $19.7 expense

Loss on extinguishment of $3.8 $- $- $- $- $- $- $- $ (3.8) $- debt



Income (loss) $599.6 $1.4 $2.8 $(1.1) $4.3 $(4.7) $1.7 $- $ 3.8 $608.0 before income taxes

Less: Provision (benefit) for 134.6 0.3 0.6 (0.3) 0.9 (1.0) 0.4 1.9 - 137.5 income taxes

Net income (loss) 465.0 1.1 2.2 (0.8) 3.4 (3.7) 1.3 (1.9) 3.8 470.4

Less: Earnings (loss) allocated to15.6 - 0.1 - 0.1 (0.1) - (0.1) 0.1 15.8 participating securities

Net income (loss) available to $449.4 $1.1 $2.1 $(0.8) $3.3 $(3.5) $1.3 $(1.8) $ 3.7 $454.6 diluted common shares



Diluted income (loss) per common $25.21 $0.06 $0.12 $(0.05) $0.18 $(0.20)$0.07 $(0.10)$ 0.21 $25.50 share



Effective tax rate 22.4 % 22.6 %



SG&A as % gross 59.8 % 59.8 %profit ^(1)

Operating margin ^ 6.5 % 6.5 %(2)

Pretax margin ^(3) 5.9 % 5.9 %



Same Store SG&A $1,061.8 $- $(2.8) $- $(4.3) $4.7 $- $- $ - $1,059.4 expenses

Same Store SG&A as 59.7 % 59.6 %% gross profit ^(1)



Same Store income (loss) from $658.3 $- $2.8 $- $4.3 $(4.7) $1.7 $- $ - $662.5 operations

Same Store operating margin ^ 6.5 % 6.6 %(2)

^(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconcilingitems above.

^(2) Adjusted operating margin excludes the impact of SG&A reconciling itemsabove and asset impairment charges.

^(3) Adjusted pretax margin excludes the impact of SG&A reconciling items,asset impairment charges, a non-cash loss on interest rate swaps and loss onextinguishment of debt.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)



Nine Months Ended September 30, 2020

Loss on SeveranceOut-of-periodAsset Non-GAAP U.S. GAAPcosts adjustment impairmentsextinguishmentadjusted of debt

SG&A expenses $870.9 $(2.1) $ (10.6) $ - $- $858.3

Asset impairments $23.8 $- $ - $ (23.8) $- $-

Income from $336.0 $2.1 $ 10.6 $ 23.8 $- $372.5 operations

Loss on extinguishment of $13.7 $- $ - $ - $(13.7) $- debt



Income before $242.2 $2.1 $ 10.6 $ 23.8 $13.7 $292.4 income taxes

Less: Provision 55.8 0.3 0.8 3.3 3.0 63.3 for income taxes

Net income 186.4 1.8 9.7 20.6 10.7 229.2

Less: Earnings allocated to 6.7 0.1 0.4 0.7 0.4 8.2 participating securities

Net income available to $179.7 $1.7 $ 9.4 $ 19.8 $10.3 $220.9 diluted common shares



Diluted income per$10.08 $0.10 $ 0.53 $ 1.11 $0.58 $12.40 common share



Effective tax rate23.1 % 21.6 %



SG&A as % gross 67.7 % 66.7 %profit ^(1)

Operating margin ^4.3 % 4.7 %(2)

Pretax margin ^(3)3.1 % 3.7 %



Same Store SG&A $856.1 $(2.1) $ (10.6) $ - $- $843.5 expenses

Same Store SG&A as % gross profit ^ 67.4 % 66.4 %(1)



Same Store income $335.6 $2.1 $ 10.6 $ 23.8 $- $372.1 from operations

Same Store operating margin ^4.3 % 4.8 %(2)

^(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconcilingitems above.

^(2) Adjusted operating margin excludes the impact of SG&A reconciling itemsabove and asset impairment charges.

^(3) Adjusted pretax margin excludes the impact of SG&A reconciling items andasset impairment charges, as well as loss on extinguishment of debt.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - U.S.

(Unaudited)

(In millions)



Three Months Ended September 30, 2021

CatastrophicAcquisitionLegal Non-GAAP U.S. GAAP events costs settlementsadjusted

SG&A expenses $308.7 $ (0.6) $ (3.8) $3.7 $308.1

SG&A as % gross 57.7 % 57.6 %profit ^(1)



Same Store SG&A $304.5 $ (0.6) $ (3.8) $3.7 $303.9 expenses

Same Store SG&A as % gross profit57.7 % 57.6 %^(1)

Nine Months Ended September 30, 2021

Dealership Acquisition Non-GAAP U.S. GAAPCatastrophicand real Legal events estate costs mattersadjusted transactions

SG&A expenses $883.0 $(2.8) $1.7 $(3.8) $4.7 $882.8

SG&A as % gross58.4 % 58.4 %profit ^(1)



Same Store SG&A$875.9 $(2.8) $- $(3.8) $4.7 $874.1 expenses

Same Store SG&A as % gross 58.5 % 58.4 %profit ^(1)

Nine Months Ended September 30, 2020

Out-of-period Non-GAAP U.S. GAAP adjustment adjusted

SG&A expenses $706.0 $ (10.6) $695.4

SG&A as % gross profit ^(1) 65.3 % 64.3 %



Same Store SG&A expenses $695.8 $ (10.6) $685.2

Same Store SG&A as % gross profit ^(1)65.1 % 64.1 %

^(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconcilingitems above.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - U.K.

(Unaudited)

(In millions)



Three Months Ended September 30, 2021

U.S. Acquisition Non-GAAP GAAP costs Adjusted

SG&A expenses $67.6 $ (0.6) $67.0

SG&A as % gross profit ^(1) 65.2 % 64.6 %



Same Store SG&A expenses $58.9 $ (0.6) $58.4

Same Store SG&A as % gross profit ^(1)62.9 % 62.3 %

Nine Months Ended September 30, 2021

Dealership AcquisitionNon-GAAP U.S. GAAPand real estate costs Adjusted transactions

SG&A expenses $173.3 $(0.6) $(0.6) $172.1

SG&A as % gross profit ^(1) 67.1 % 66.7 %



Same Store SG&A expenses $162.0 $- $(0.6) $161.4

Same Store SG&A as % gross 65.9 % 65.7 %profit ^(1)

Nine Months Ended September 30, 2020

Non-GAAP U.S. GAAPSeverance costs Adjusted

SG&A expenses $141.8 $ (1.2) $140.6

SG&A as % gross profit ^(1) 78.0 % 77.3 %



Same Store SG&A expenses $137.3 $ (1.2) $136.1

Same Store SG&A as % gross profit ^(1)77.3 % 76.6 %

^(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconcilingitems above.

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Brazil

(Unaudited)

(In millions)



Nine Months Ended September 30, 2020

Non-GAAP U.S. GAAPSeverance costs adjusted

SG&A expenses $23.1 $ (0.9) $22.2

SG&A as % gross profit ^(1) 95.3 % 91.7 %



Same Store SG&A expenses $23.0 $ (0.9) $22.1

Same Store SG&A as % gross profit^ (1) 95.1 % 91.4 %

^(1) Adjusted SG&A as % of gross profit excludes the impact of SG&A reconcilingitems above.

View original content: https://www.prnewswire.com/news-releases/group-1-automotive-announces-record-third-quarter-2021-financial-results-301410401.html

SOURCE Group 1 Automotive, Inc.