PR Newswire | Oct 29, 2020 07:08AM EDT

10/29 06:07 CDT

Group 1 Automotive Announces All-Time Record Quarterly Earnings Per ShareMore Than Triples Earnings Per Share from 3Q19's $2.04 to 3Q20's $6.83; Strong Cost Leverage; U.K. Performance Rebounds HOUSTON, Oct. 29, 2020

HOUSTON, Oct. 29, 2020 /PRNewswire/ -- Group 1 Automotive, Inc. (NYSE: GPI),("Group 1" or the "Company"), an international, Fortune 500 automotive retailer, today reported 2020 third quarter net income of $126.4 million, diluted earnings per common share of $6.83, adjusted net income (a non-GAAP measure) of $129.0 million, and adjusted diluted earnings per common share (a non-GAAP measure) of $6.97. This compares to diluted earnings per common share of $2.04 and adjusted diluted earnings per common share (a non-GAAP measure) of $3.02 in 2019. The Company's 2020 third quarter total revenue was $3.0 billion.

Third quarter 2020 adjusted net income and diluted earnings per share excluded a net after-tax adjustment related to a loss on debt redemption of $3.3 million, or $0.14 per share. Third quarter 2019 adjusted net income and diluted earnings per share excluded approximately $18.4 million net after-tax adjustments, or $0.98 per common share. These adjustments consist primarily of $9.0 million related to catastrophic weather events, or $0.48 per common share; non-cash asset impairments of $8.3 million, or $0.44 per common share; and $1.1 million related to dealership and real estate transactions, or $0.06 per common share. Reconciliations of non-GAAP financial measures are included in the attached financial tables. Certain disclosures may not compute due to rounding.

"Our record earnings are a function of our hard working, resilient teammates and a responsive and creative management team that quickly reacted to the realities of the pandemic. As we rebuilt our U.S. and U.K. businesses from the extreme furlough levels in April, we targeted a 20% efficiency improvement in our sales and service processes, which drove our key cost metric, SG&A as a percent of gross profit, below 60% for the first time in our history. Lower U.S. vehicle sales were offset by improved F&I performance and higher margins supported by lower inventory levels. Additionally, our U.K. business turned in a record performance with year-over-year growth in service and vehicle sales," said Earl J. Hesterberg, Group 1's President and Chief Executive Officer.

Liquidity & Capital Resources Update

As of September 30, 2020, the Company's total cash liquidity was $193 million. There was also $273 million of borrowing capacity on the Company's U.S. syndicated acquisition line, bringing total immediate liquidity to $466 million at the end of the third quarter 2020.

As previously announced, the Company redeemed all $550 million of its outstanding 5.00% notes due 2022 during the third quarter of 2020. This redemption was funded with $550 million of newly issued 4.00% notes due 2028. Along with the April 2020 redemption of the 5.25% notes due 2023, the Company now has no material debt maturities before its U.S. Credit Facility matures in June of 2024. The debt restructuring undertaken this year will save the Company over $15 million in annual interest expense.

During the third quarter of 2020, the Company generated $25 million of operating cash flow ($121 million of adjusted operating cash flow), which brings the year-to-date operating cash flow to $713 million ($358 million of adjusted operating cash flow). This cash generation has been partially used to reduce non-floorplan debt by $159 million since the end of 2019. Additionally, the Company's U.S. credit facility rent-adjusted leverage ratio was reduced to 2.5 times at the end of September 2020, or down from 3.3 times at the end of 2019.

Share Repurchase Authorization & Dividend

On October 6, 2020, the Company announced a new $200 million share repurchase program. Purchases may be made from time to time, based on market conditions, legal requirements and other corporate considerations, in the open market or in privately negotiated transactions, and subject to Board approval and covenant restrictions. The Company expects to reinstate a quarterly cash dividend following its board meeting in mid-November 2020, and payable in mid-December 2020.

Consolidated Results for Third Quarter 2020(year-over-year comparable basis)

For ease of comparison, constant currency metrics (a non-GAAP measure) are included below (shown in parenthesis) and within the financial tables that follow:

* Total revenue decreased 2.5 percent (-2.9 percent), to $3.0 billion. * Total gross profit increased 10.0 percent (9.8 percent), to $512.0 million. * New vehicle revenues decreased 4.3 percent (-4.6 percent) on a 10.7 percent decrease in unit sales. * Retail used vehicle revenues decreased 0.3 percent (-1.1 percent) on 7.1 percent lower unit sales. * Parts and service gross profit decreased 0.9 percent (-1.1 percent) on revenue decrease of 2.1 percent (-2.0 percent). * Finance and Insurance (F&I) gross profit per retail unit (PRU) increased 11.5 percent (11.3 percent), to $1,655. * Selling, General and Administrative (SG&A) expenses as a percent of gross profit decreased 1,630 basis points, to 59.7 percent.

Segment Results for Third Quarter 2020(year-over-year comparable basis)

* United States:The Company's U.S. operations accounted for 73.8 percent of total revenues and 81.1 percent of total gross profit. Total U.S. revenues decreased 7.4 percent, to $2.2 billion. Total gross profit increased 7.4 percent, to $415.7 million. Same Store U.S. total gross profit increased 6.4 percent, to $409.5 million. * Same Store new vehicle revenue declined 9.9 percent, with units decreasing 15.7 percent. New vehicle gross profit increased 34.3 percent as gross profit per unit increased $1,052, a 59.3 percent increase, to $2,824, as higher new vehicle margins more than offset the gross profit impact from lower volumes. * Same Store total used vehicle revenue declined 8.5 percent, with total used units decreasing 13.9 percent, as inventory shortages hampered sales later in the quarter. Same Store total used gross profit increased 26.6 percent as higher gross profit per unit (used retail gross profit per unit increased $510, a 36.7 percent increase, to $1,898). * Parts and service revenues decreased 2.7 percent and gross profit decreased by 3.1 percent. Same Store parts and service revenues decreased 3.3 percent. Same Store parts and service gross profit decreased 4.0 percent, to $163.8 million. * F&I revenues decreased 0.3 percent, to $113.0 million. F&I gross profit PRU grew $285, to $2,030, or 16.3 percent. Same Store F&I gross profit PRU increased $290, to $2,041, or 16.6 percent. * SG&A expenses as a percent of gross profit decreased 1,470 basis points, to 59.0 percent.

* United Kingdom:Constant currency metrics (a non-GAAP measure) are included below (shown in parenthesis) and within the financial tables that follow:The Company's U.K. operations accounted for 24.4 percent of total revenues and 17.1 percent of total gross profit. Same Store total revenues increased 22.6 percent (17.3 percent), to $707.0 million. Same Store total gross profit increased 31.6 percent (25.7 percent), to $82.8 million. Same Store SG&A expenses as a percent of gross profit decreased 2,600 basis points, to 60.6 percent. * Brazil:Constant currency metrics (a non-GAAP measure) are included below (shown in parenthesis) and within the financial tables that follow:The Company's Brazilian operations accounted for 1.8 percent of total revenues and 1.7 percent of total gross profit. Same Store total revenues decreased 50.9 percent (-33.6 percent), driven by constant currency revenue decreases of 54.4 percent (-38.3 percent) in new vehicles, 50.6 percent (-33.1 percent) in total used vehicles, 41.1 percent (-20.3 percent) in F&I, and 32.5 percent (-8.4 percent) in parts and service. The decreases were driven by local shelter-in-place orders that, on average, completely closed the Company's Brazilian operations for over a month during the quarter and continues to restrict operating hours. Same Store SG&A expenses as a percent of gross profit decreased 290 basis points, to 79.8 percent.

Corporate Development

Year-to-date 2020, the Company disposed of a Nissan franchise in Mississippi during October, which generated approximately $30 million in trailing-twelve-month revenues.

Third Quarter 2020 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 2020 financial results. The conference call will be simulcast live on the Internet at www.group1auto.com, then click on 'Investor Relations' and then 'Events' or through this link: http://www.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: 1-888-609-1607International: 1-862-298-0705Passcode: 56690934

A telephonic replay will be available following the call through November 6, 2020 by dialing:

Domestic: 1-888-539-4649International: 1-754-333-7735Replay ID: 153906

ABOUT GROUP 1 AUTOMOTIVE, INC.

Group 1 owns and operates 185 automotive dealerships, 241 franchises, and 49 collision centers in the United States, the United Kingdom and Brazil that offer 31 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 www.group1corp.com, www.group1auto.com, www.group1collision.com, www.facebook.com/group1auto, and www.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 include statements regarding our goals, plans, and business strategy to repurchase shares of Group 1 common stock, our expectations regarding the reinstatement of our quarterly dividend as well as other statements, and may include 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) board approval of future dividends, (b) general economic and business conditions, (c) the level of manufacturer incentives, (d) the future regulatory environment, (e) our ability to obtain an inventory of desirable new and used vehicles, (f) our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions, (g) our cost of financing and the availability of credit for consumers, (h) our ability to complete acquisitions and dispositions and the risks associated therewith, (i) foreign exchange controls and currency fluctuations, (j) our ability to retain key personnel, (k) the impacts of COVID-19 on our business, (l) the impacts of any potential global recession, and (m) our ability to maintain sufficient liquidity to operate. 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 SEC, 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 RelationsGroup 1 Automotive, Inc.713-647-5741 | sroth@group1auto.com

Media contacts:Pete DeLongchampsSenior Vice President, Manufacturer Relations, Financial Services and Public AffairsGroup 1 Automotive, Inc.713-647-5770 | pdelongchamps@group1auto.comorClint 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,

2020 2019 Increase/ % Change (Decrease)

REVENUES:

New vehicle retail sales $ 1,580.7 $ 1,652.3 $ (71.7) (4.3) %

Used vehicle retail sales 867.2 869.7 (2.5) (0.3) %

Used vehicle wholesale sales 86.7 85.2 1.5 1.7 %

Parts and service sales 375.6 383.5 (7.9) (2.1) %

Finance, insurance and other, 129.5 127.5 2.0 1.5 %net

Total revenues 3,039.6 3,118.3 (78.7) (2.5) %

COST OF SALES:

New vehicle retail sales 1,481.5 1,577.0 (95.5) (6.1) %

Used vehicle retail sales 796.1 815.5 (19.4) (2.4) %

Used vehicle wholesale sales 80.7 84.9 (4.2) (4.9) %

Parts and service sales 169.4 175.4 (6.0) (3.4) %

Total cost of sales 2,527.7 2,652.7 (125.0) (4.7) %

GROSS PROFIT 512.0 465.6 46.3 10.0 %

Selling, general and 305.8 353.9 (48.1) (13.6) %administrative expenses

Depreciation and amortization 19.1 18.2 0.9 5.2 %expense

Asset impairments - 10.3 (10.3) (100.0) %

INCOME (LOSS) FROM OPERATIONS 187.1 83.3 103.8 124.7 %

Floorplan interest expense 8.1 15.3 (7.2) (47.1) %

Other interest expense, net 14.6 18.9 (4.3) (22.8) %

(Gain) loss on extinguishment 3.3 - 3.3 - %of debt

INCOME (LOSS) BEFORE INCOME 161.0 49.0 112.0 228.6 %TAXES

(Benefit) provision for 34.6 10.9 23.6 215.7 %income taxes

NET INCOME (LOSS) $ 126.4 $ 38.0 $ 88.4 232.3 %

Less: Earnings (loss)allocated to participating 4.5 1.4 3.1 225.7 %securities

Net income (loss) available $ 121.9 $ 36.7 $ 85.2 232.5 %to diluted common shares

DILUTED EARNINGS (LOSS) PER $ 6.83 $ 2.04 $ 4.80 235.2 %SHARE

Weighted average dilutive 17.8 18.0 (0.1) (0.8) %common shares outstanding

Weighted average 0.7 0.7 - (3.6) %participating securities

Total weighted average shares 18.5 18.7 (0.2) (0.9) %

Effective tax rate 21.5 % 22.3 % (0.9) %

Group 1 Automotive, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In millions, except per share data)

Nine Months Ended September 30,

2020 2019 Increase/ % Change (Decrease)

REVENUES:

New vehicle retail sales $ 3,985.5 $ 4,632.2 $ (646.7) (14.0) %

Used vehicle retail sales 2,287.4 2,527.8 (240.4) (9.5) %

Used vehicle wholesale sales 221.9 273.4 (51.5) (18.8) %

Parts and service sales 1,028.2 1,130.8 (102.6) (9.1) %

Finance, insurance and other, 338.7 368.2 (29.5) (8.0) %net

Total revenues 7,861.7 8,932.4 (1,070.7) (12.0) %

COST OF SALES:

New vehicle retail sales 3,759.7 4,415.7 (656.0) (14.9) %

Used vehicle retail sales 2,127.9 2,372.5 (244.5) (10.3) %

Used vehicle wholesale sales 212.9 272.7 (59.8) (21.9) %

Parts and service sales 473.9 520.1 (46.2) (8.9) %

Total cost of sales 6,574.4 7,581.0 (1,006.6) (13.3) %

GROSS PROFIT 1,287.2 1,351.4 (64.1) (4.7) %

Selling, general and 870.9 1,020.3 (149.4) (14.6) %administrative expenses

Depreciation and amortization 56.5 53.0 3.4 6.5 %expense

Asset impairments 23.8 10.8 13.0 120.9 %

INCOME (LOSS) FROM OPERATIONS 336.0 267.2 68.8 25.7 %

Floorplan interest expense 31.1 47.0 (15.9) (33.8) %

Other interest expense, net 49.0 55.8 (6.9) (12.3) %

(Gain) loss on extinguishment 13.7 - 13.7 - %of debt

INCOME (LOSS) BEFORE INCOME 242.2 164.4 77.8 47.3 %TAXES

(Benefit) provision for income 55.8 38.5 17.4 45.1 %taxes

NET INCOME (LOSS) $ 186.4 $ 125.9 $ 60.5 48.0 %

Less: Earnings (loss)allocated to participating 6.7 4.7 2.0 43.0 %securities

Net income (loss) available to $ 179.7 $ 121.2 $ 58.4 48.2 %diluted common shares

DILUTED EARNINGS (LOSS) PER $ 10.08 $ 6.77 $ 3.31 48.9 %SHARE

Weighted average dilutive 17.8 17.9 (0.1) (0.5) %common shares outstanding

Weighted average participating 0.7 0.7 - (4.3) %securities

Total weighted average shares 18.5 18.6 (0.1) (0.6) %

Effective tax rate 23.1 % 23.4 % (0.4) %

Group 1 Automotive, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In millions)

September 30, 2020 December 31, 2019 Increase/ % Change (Decrease)

ASSETS

CURRENT ASSETS:

Cash and cash $ 66.2 $ 23.8 $ 42.4 178.6 %equivalents

Contracts-in-transitand vehiclereceivables, net of 218.9 253.8 (35.0) (13.8) %allowance of $0.3 and$0.3, respectively

Accounts and notesreceivable, net of 193.5 225.1 (31.6) (14.1) %allowance of $3.6 and$2.8, respectively

Inventories, net 1,375.7 1,901.7 (526.1) (27.7) %

Prepaid expenses 39.8 96.4 (56.6) (58.7) %

Other current assets 22.6 15.5 7.1 45.7 %

TOTAL CURRENT ASSETS 1,916.6 2,516.3 (599.7) (23.8) %

Property andequipment, net ofaccumulated 1,592.0 1,547.1 44.9 2.9 %depreciation of$441.9 and $400.2,respectively

Operating lease 209.9 220.1 (10.1) (4.6) %assets

Goodwill 993.5 1,008.3 (14.8) (1.5) %

Intangible franchise 241.3 253.5 (12.2) (4.8) %rights

Other long-term 30.0 24.8 5.1 20.7 %assets

TOTAL ASSETS $ 4,983.4 $ 5,570.2 $ (586.8) (10.5) %

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

Floorplan notespayable - creditfacility and other, $ 771.3 $ 1,144.4 $ (373.2) (32.6) %net of offset accountof $108.2 and $106.8,respectively

Floorplan notespayable -manufactureraffiliates, net of 314.8 459.9 (145.1) (31.5) %offset account of$18.5 and $4.1,respectively

Current maturities of 65.8 59.1 6.7 11.3 %long-term debt

Current operating 21.5 24.6 (3.2) (12.8) %lease liabilities

Accounts payable 408.3 527.5 (119.2) (22.6) %

Accrued expenses andother current 230.4 206.7 23.7 11.5 %liabilities

TOTAL CURRENT 1,812.1 2,422.3 (610.2) (25.2) %LIABILITIES

Long-term debt 1,307.8 1,432.1 (124.3) (8.7) %

Long-term operating 207.1 210.7 (3.6) (1.7) %lease liabilities

Deferred income taxes 135.4 145.7 (10.3) (7.1) %

Long-term interest 49.4 4.4 45.0 1,024.2 %rate swap liabilities

Other long-term 114.8 99.2 15.6 15.7 %liabilities

STOCKHOLDERS' EQUITY:

Common stock 0.3 0.3 - (0.2) %

Additional paid-in 304.0 295.3 8.6 2.9 %capital

Retained earnings 1,723.3 1,542.4 180.8 11.7 %

Accumulated othercomprehensive income (206.3) (147.0) (59.3) 40.4 %(loss)

Treasury stock (464.3) (435.3) (29.0) 6.7 %

TOTAL STOCKHOLDERS' 1,356.9 1,255.7 101.2 8.1 %EQUITY

TOTAL LIABILITIES AND $ 4,983.4 $ 5,570.2 $ (586.8) (10.5) %STOCKHOLDERS' EQUITY

Group 1 Automotive, Inc.

Additional Information - Consolidated

(Unaudited)

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

2020 (%) 2019 (%) 2020 (%) 2019 (%)

New vehicle unit sales geographic mix

Region Geographic Market

United States Texas 34.7 36.9 36.8 35.8

Oklahoma 7.1 7.1 7.5 6.7

California 4.6 5.6 4.8 5.6

Georgia 4.3 4.8 4.6 4.5

Massachusetts 4.9 5.1 4.6 4.7

Florida 2.4 2.5 2.6 2.6

Louisiana 2.1 2.4 2.2 2.4

New Hampshire 1.8 2.0 1.9 1.8

New Jersey 1.9 1.8 1.8 1.8

South Carolina 1.6 1.8 1.7 1.7

New Mexico 1.3 0.7 1.3 0.4

Kansas 1.2 1.2 1.2 1.1

Mississippi 1.0 1.2 1.1 1.2

Alabama 0.7 0.7 0.7 0.7

Maryland 0.5 0.5 0.4 0.5

70.2 74.0 73.2 71.5

International United Kingdom 26.8 20.9 23.0 23.0

Brazil 3.0 5.1 3.8 5.5

100.0 100.0 100.0 100.0

New vehicle unit sales brand mix

Toyota/Lexus 22.7 25.7 22.9 24.6

Volkswagen/Audi/Porsche/SEAT/SKODA 17.7 13.3 15.6 13.9

BMW/MINI 11.8 11.9 11.4 12.1

Ford/Lincoln 10.1 10.6 10.7 10.6

Honda/Acura 8.5 10.5 9.2 10.6

Chevrolet/GMC/Buick/Cadillac 7.1 6.7 7.4 6.6

Nissan 4.7 6.1 5.3 6.1

Mercedes-Benz/Smart/Sprinter 5.3 4.9 5.3 5.1

Hyundai/Kia/Genesis 4.3 3.9 4.4 3.8

Chrysler/Dodge/Jeep/RAM 4.0 3.7 4.0 3.4

Jaguar/Land Rover 2.5 1.8 2.3 2.0

Other 1.3 1.0 1.5 1.2

100.0 100.0 100.0 100.0

Group 1 Automotive, Inc.

Reported Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)

Three Months Ended September 30,

Currency Impact Constant 2020 2019 Increase/ % Change on Currency (Decrease) Current % Change Period Results

Revenues:

Newvehicle $ 1,580.7 $ 1,652.3 $ (71.7) (4.3) % $ 4.6 (4.6) %retailsales

Usedvehicle 867.2 869.7 (2.5) (0.3) % 7.3 (1.1) %retailsales

Usedvehicle 86.7 85.2 1.5 1.7 % 0.8 0.7 %wholesalesales

Total used 953.9 955.0 (1.1) (0.1) % 8.1 (1.0) %

Parts andservice 375.6 383.5 (7.9) (2.1) % (0.1) (2.0) %sales

F&I, net 129.5 127.5 2.0 1.5 % 0.3 1.3 %

Total $ 3,039.6 $ 3,118.3 $ (78.7) (2.5) % $ 12.9 (2.9) %revenues

Grossprofit:

Newvehicle $ 99.2 $ 75.4 $ 23.8 31.6 % $ (0.2) 31.9 %retailsales

Usedvehicle 71.1 54.3 16.8 31.0 % 0.5 30.2 %retailsales

Usedvehicle 5.9 0.3 5.6 1,745.3 % - 1,743.5 %wholesalesales

Total used 77.0 54.6 22.5 41.2 % 0.5 40.3 %

Parts andservice 206.2 208.1 (1.9) (0.9) % 0.3 (1.1) %sales

F&I, net 129.5 127.5 2.0 1.5 % 0.3 1.3 %

Totalgross $ 512.0 $ 465.6 $ 46.3 10.0 % $ 0.8 9.8 %profit

Grossmargin:

Newvehicle 6.3 % 4.6 % 1.7 %retailsales

Usedvehicle 8.2 % 6.2 % 2.0 %retailsales

Usedvehicle 6.9 % 0.4 % 6.5 %wholesalesales

Total used 8.1 % 5.7 % 2.4 %

Parts andservice 54.9 % 54.3 % 0.6 %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 16.8 % 14.9 % 1.9 %margin

Unitssold:

Retail newvehicles 39,869 44,632 (4,763) (10.7) %sold

Retailused 38,347 41,297 (2,950) (7.1) %vehiclessold

Wholesaleused 11,581 12,889 (1,308) (10.1) %vehiclessold

Total used 49,928 54,186 (4,258) (7.9) %

Averagesalesprice perunit sold:

Newvehicle $ 39,647 $ 37,022 $ 2,625 7.1 % $ 115 6.8 %retail

Usedvehicle $ 22,614 $ 21,060 $ 1,554 7.4 % $ 190 6.5 %retail

Grossprofit perunit sold:

Newvehicle $ 2,489 $ 1,689 $ 800 47.4 % $ (5) 47.6 %retailsales

Usedvehicle $ 1,854 $ 1,314 $ 540 41.1 % $ 12 40.2 %retailsales

Usedvehicle $ 513 $ 25 $ 488 1,953.7 % $ 1 1,951.7 %wholesalesales

Total used $ 1,543 $ 1,007 $ 536 53.2 % $ 9 52.3 %

F&I PRU $ 1,655 $ 1,484 $ 171 11.5 % $ 4 11.3 %

Other:

SG&A $ 305.8 $ 353.9 $ (48.1) (13.6) % $ - (13.6) %expenses

AdjustedSG&A $ 305.8 $ 340.8 $ (35.0) (10.3) % $ - (10.3) %expenses ^(1)

SG&A as %gross 59.7 % 76.0 % (16.3) %profit

AdjustedSG&A as %gross 59.7 % 73.2 % (13.5) %profit ^(1)

Operating 6.2 % 2.7 % 3.5 %margin %

Adjustedoperating 6.2 % 3.4 % 2.7 %margin % ^(1)

Pretax 5.3 % 1.6 % 3.7 %margin %

Adjustedpretax 5.4 % 2.3 % 3.1 %margin % ^(1)

Floorplanexpense:

Floorplaninterest $ 8.1 $ 15.3 $ (7.2) (47.1) % $ 0.1 (47.5) %expense

Less:Floorplan 12.7 13.3 (0.6) (4.8) % - (4.8) %assistance^ (2)

Netfloorplan $ (4.6) $ 2.0 $ (6.6) (326.0) % $ 0.1 (328.6) %expense

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

^ Floorplan assistance is included within New vehicle retail Gross profit(2) above and New vehicle retail Cost of sales in our Condensed Consolidated Statements of Operations.

Group 1 Automotive, Inc.

Reported Operating Data - Consolidated

(Unaudited)

(In millions, except unit data)

Nine Months Ended September 30,

Currency Increase/ Impact on Constant 2020 2019 (Decrease) % Change Current Currency Period % Change Results

Revenues:

Newvehicle $ 3,985.5 $ 4,632.2 $ (646.7) (14.0) % $ (28.3) (13.4) %retailsales

Usedvehicle 2,287.4 2,527.8 (240.4) (9.5) % (6.5) (9.3) %retailsales

Usedvehicle 221.9 273.4 (51.5) (18.8) % (2.2) (18.0) %wholesalesales

Total used 2,509.3 2,801.2 (291.9) (10.4) % (8.7) (10.1) %

Parts andservice 1,028.2 1,130.8 (102.6) (9.1) % (5.8) (8.6) %sales

F&I, net 338.7 368.2 (29.5) (8.0) % (0.9) (7.8) %

Total $ 7,861.7 $ 8,932.4 $ (1,070.7) (12.0) % $ (43.7) (11.5) %revenues

Grossprofit:

Newvehicle $ 225.8 $ 216.5 $ 9.3 4.3 % $ (2.2) 5.3 %retailsales

Usedvehicle 159.5 155.4 4.2 2.7 % (0.4) 3.0 %retailsales

Usedvehicle 9.0 0.7 8.3 1,220.0 % (0.1) 1,238.3 %wholesalesales

Total used 168.5 156.0 12.5 8.0 % (0.6) 8.3 %

Parts andservice 554.2 610.7 (56.4) (9.2) % (2.5) (8.8) %sales

F&I, net 338.7 368.2 (29.5) (8.0) % (0.9) (7.8) %

Totalgross $ 1,287.2 $ 1,351.4 $ (64.1) (4.7) % $ (6.0) (4.3) %profit

Grossmargin:

Newvehicle 5.7 % 4.7 % 1.0 %retailsales

Usedvehicle 7.0 % 6.1 % 0.8 %retailsales

Usedvehicle 4.0 % 0.2 % 3.8 %wholesalesales

Total used 6.7 % 5.6 % 1.1 %

Parts andservice 53.9 % 54.0 % (0.1) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 16.4 % 15.1 % 1.2 %margin

Unitssold:

Retail newvehicles 101,701 125,599 (23,898) (19.0) %sold

Retailused 105,665 119,878 (14,213) (11.9) %vehiclessold

Wholesaleused 30,970 38,962 (7,992) (20.5) %vehiclessold

Total used 136,635 158,840 (22,205) (14.0) %

Averagesalesprice perunit sold:

Newvehicle $ 39,189 $ 36,881 $ 2,308 6.3 % $ (278) 7.0 %retail

Usedvehicle $ 21,648 $ 21,087 $ 562 2.7 % $ (61) 3.0 %retail

Grossprofit perunit sold:

Newvehicle $ 2,220 $ 1,724 $ 497 28.8 % $ (21) 30.1 %retailsales

Usedvehicle $ 1,510 $ 1,296 $ 214 16.5 % $ (4) 16.8 %retailsales

Usedvehicle $ 290 $ 17 $ 272 1,560.6 % $ (4) 1,583.7 %wholesalesales

Total used $ 1,233 $ 982 $ 251 25.5 % $ (4) 26.0 %

F&I PRU $ 1,633 $ 1,500 $ 133 8.9 % $ (4) 9.2 %

Other:

SG&A $ 870.9 $ 1,020.3 $ (149.4) (14.6) % $ (6.0) (14.1) %expenses

AdjustedSG&A $ 858.3 $ 1,004.6 $ (146.3) (14.6) % $ (5.7) (14.0) %expenses ^(1)

SG&A as %gross 67.7 % 75.5 % (7.8) %profit

AdjustedSG&A as %gross 66.7 % 74.3 % (7.7) %profit ^(1)

Operating 4.3 % 3.0 % 1.3 %margin %

Adjustedoperating 4.7 % 3.3 % 1.4 %margin % ^(1)

Pretax 3.1 % 1.8 % 1.2 %margin %

Adjustedpretax 3.7 % 2.1 % 1.6 %margin % ^(1)

Floorplanexpense:

Floorplaninterest $ 31.1 $ 47.0 $ (15.9) (33.8) % $ (0.1) (33.6) %expense

Less:Floorplan 33.0 35.6 (2.6) (7.2) % - (7.2) %assistance^(2)

Netfloorplan $ (1.9) $ 11.4 $ (13.3) (117.1) % $ (0.1) (116.2) %expense

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

^ Floorplan assistance is included within New vehicle retail Gross profit(2) above and New vehicle retail Cost of sales in our Condensed Consolidated Statements of Operations.

Group 1 Automotive, Inc.

Reported Operating Data - U.S.

(Unaudited)

(In millions, except unit data)

Three Months Ended September 30,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $ 1,172.2 $ 1,291.8 $ (119.5) (9.3) %

Used vehicle retail sales 608.2 657.7 (49.5) (7.5) %

Used vehicle wholesale 44.8 45.8 (1.1) (2.3) %sales

Total used 653.0 703.5 (50.6) (7.2) %

Parts and service sales 306.4 314.9 (8.5) (2.7) %

F&I, net 113.0 112.7 0.4 0.3 %

Total revenues $ 2,244.6 $ 2,422.8 $ (178.2) (7.4) %

Gross profit:

New vehicle retail sales $ 79.8 $ 58.7 $ 21.1 36.0 %

Used vehicle retail sales 52.8 43.6 9.3 21.3 %

Used vehicle wholesale 3.7 0.3 3.4 1,003.9 %sales

Total used 56.6 43.9 12.7 28.8 %

Parts and service sales 166.3 171.7 (5.4) (3.1) %

F&I, net 113.0 112.7 0.4 0.3 %

Total gross profit $ 415.7 $ 386.9 $ 28.8 7.4 %

Gross margin:

New vehicle retail sales 6.8 % 4.5 % 2.3 %

Used vehicle retail sales 8.7 % 6.6 % 2.1 %

Used vehicle wholesale 8.3 % 0.7 % 7.6 %sales

Total used 8.7 % 6.2 % 2.4 %

Parts and service sales 54.3 % 54.5 % (0.2) %

F&I, net 100.0 % 100.0 % - %

Total gross margin 18.5 % 16.0 % 2.6 %

Units sold:

Retail new vehicles sold 27,980 33,041 (5,061) (15.3) %

Retail used vehicles sold 27,694 31,505 (3,811) (12.1) %

Wholesale used vehicles 6,195 7,565 (1,370) (18.1) %sold

Total used 33,889 39,070 (5,181) (13.3) %

Average sales price perunit sold:

New vehicle retail $ 41,895 $ 39,096 $ 2,800 7.2 %

Used vehicle retail $ 21,961 $ 20,875 $ 1,086 5.2 %

Gross profit per unit sold:

New vehicle retail sales $ 2,852 $ 1,775 $ 1,077 60.6 %

Used vehicle retail sales $ 1,908 $ 1,383 $ 525 37.9 %

Used vehicle wholesale $ 603 $ 45 $ 559 1,248.0 %sales

Total used $ 1,669 $ 1,124 $ 545 48.5 %

F&I PRU $ 2,030 $ 1,746 $ 285 16.3 %

Other:

SG&A expenses $ 245.2 $ 285.3 $ (40.0) (14.0) %

Adjusted SG&A expenses ^(1) $ 245.2 $ 272.6 $ (27.4) (10.0) %

SG&A as % gross profit 59.0 % 73.7 % (14.7) %

Adjusted SG&A as % gross 59.0 % 70.5 % (11.5) %profit ^(1)

^ See the section in this release titled "Reconciliation of Certain Non-GAAP(1) Financial 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,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $ 3,076.3 $ 3,512.3 $ (436.0) (12.4) %

Used vehicle retail sales 1,719.4 1,877.5 (158.1) (8.4) %

Used vehicle wholesale sales 122.1 132.9 (10.8) (8.1) %

Total used 1,841.5 2,010.5 (169.0) (8.4) %

Parts and service sales 865.2 922.1 (56.9) (6.2) %

F&I, net 300.2 319.4 (19.2) (6.0) %

Total revenues $ 6,083.3 $ 6,764.3 $ (681.0) (10.1) %

Gross profit:

New vehicle retail sales $ 183.6 $ 164.2 $ 19.4 11.8 %

Used vehicle retail sales 125.7 125.2 0.6 0.4 %

Used vehicle wholesale sales 6.2 2.4 3.7 154.3 %

Total used 131.9 127.6 4.3 3.4 %

Parts and service sales 465.4 499.3 (33.9) (6.8) %

F&I, net 300.2 319.4 (19.2) (6.0) %

Total gross profit $ 1,081.1 $ 1,110.5 $ (29.4) (2.6) %

Gross margin:

New vehicle retail sales 6.0 % 4.7 % 1.3 %

Used vehicle retail sales 7.3 % 6.7 % 0.6 %

Used vehicle wholesale sales 5.0 % 1.8 % 3.2 %

Total used 7.2 % 6.3 % 0.8 %

Parts and service sales 53.8 % 54.1 % (0.4) %

F&I, net 100.0 % 100.0 % - %

Total gross margin 17.8 % 16.4 % 1.4 %

Units sold:

Retail new vehicles sold 74,412 89,749 (15,337) (17.1) %

Retail used vehicles sold 81,494 91,299 (9,805) (10.7) %

Wholesale used vehicles sold 18,372 21,543 (3,171) (14.7) %

Total used 99,866 112,842 (12,976) (11.5) %

Average sales price per unitsold:

New vehicle retail $ 41,342 $ 39,135 $ 2,207 5.6 %

Used vehicle retail $ 21,099 $ 20,565 $ 534 2.6 %

Gross profit per unit sold:

New vehicle retail sales $ 2,467 $ 1,830 $ 637 34.8 %

Used vehicle retail sales $ 1,543 $ 1,371 $ 172 12.5 %

Used vehicle wholesale sales $ 336 $ 113 $ 223 198.2 %

Total used $ 1,321 $ 1,131 $ 190 16.8 %

F&I PRU $ 1,926 $ 1,764 $ 162 9.2 %

Other:

SG&A expenses $ 706.0 $ 809.5 $ (103.5) (12.8) %

Adjusted SG&A expenses ^(1) $ 695.4 $ 794.3 $ (98.8) (12.4) %

SG&A as % gross profit 65.3 % 72.9 % (7.6) %

Adjusted SG&A as % gross 64.3 % 71.5 % (7.2) %profit ^(1)

^ See the section in this release titled "Reconciliation of Certain Non-GAAP(1) Financial 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 Increase/ Impact on Constant 2020 2019 (Decrease) % Change Current Currency Period % Change Results

Revenues:

Newvehicle $ 376.6 $ 290.7 $ 85.8 29.5 % $ 15.8 24.1 %retailsales

Usedvehicle 248.1 189.3 58.8 31.1 % 11.2 25.2 %retailsales

Usedvehicle 39.5 35.0 4.5 12.9 % 1.7 8.0 %wholesalesales

Total 287.6 224.3 63.3 28.2 % 12.9 22.5 %used

Parts andservice 61.3 56.6 4.7 8.2 % 2.7 3.4 %sales

F&I, net 15.4 13.0 2.4 18.2 % 0.7 13.1 %

Total $ 740.8 $ 584.6 $ 156.2 26.7 % $ 32.1 21.2 %revenues

Grossprofit:

Newvehicle $ 16.8 $ 12.2 $ 4.5 37.1 % $ 0.7 31.1 %retailsales

Usedvehicle 17.2 8.9 8.3 93.4 % 0.8 84.2 %retailsales

Usedvehicle 2.0 (0.3) 2.3 713.0 % 0.1 690.0 %wholesalesales

Total 19.2 8.6 10.7 124.3 % 0.9 113.8 %used

Parts andservice 36.2 31.3 4.9 15.7 % 1.6 10.6 %sales

F&I, net 15.4 13.0 2.4 18.2 % 0.7 13.1 %

Totalgross $ 87.6 $ 65.1 $ 22.5 34.6 % $ 3.9 28.6 %profit

Grossmargin:

Newvehicle 4.5 % 4.2 % 0.2 %retailsales

Usedvehicle 6.9 % 4.7 % 2.2 %retailsales

Usedvehicle 5.1 % (0.9) % 6.0 %wholesalesales

Total 6.7 % 3.8 % 2.9 %used

Parts andservice 59.1 % 55.3 % 3.8 %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 11.8 % 11.1 % 0.7 %margin

Unitssold:

Retailnew 10,689 9,329 1,360 14.6 %vehiclessold

Retailused 10,101 8,573 1,528 17.8 %vehiclessold

Wholesaleused 5,104 4,894 210 4.3 %vehiclessold

Total 15,205 13,467 1,738 12.9 %used

Averagesalesprice perunitsold:

Newvehicle $ 35,230 $ 31,164 $ 4,066 13.0 % $ 1,479 8.3 %retail

Usedvehicle $ 24,561 $ 22,077 $ 2,484 11.2 % $ 1,105 6.2 %retail

Grossprofitper unitsold:

Newvehicle $ 1,571 $ 1,313 $ 258 19.7 % $ 69 14.4 %retailsales

Usedvehicle $ 1,706 $ 1,039 $ 667 64.2 % $ 81 56.4 %retailsales

Usedvehicle $ 394 $ (67) $ 462 687.8 % $ 15 665.7 %wholesalesales

Total $ 1,266 $ 637 $ 629 98.7 % $ 59 89.4 %used

F&I PRU $ 739 $ 726 $ 13 1.8 % $ 32 (2.6) %

Other:

SG&A $ 53.7 $ 57.6 $ (3.9) (6.8) % $ 2.4 (11.0) %expenses

AdjustedSG&A $ 53.7 $ 57.1 $ (3.4) (6.0) % $ 2.4 (10.3) %expenses^(1)

SG&A as %gross 61.2 % 88.4 % (27.2) %profit

AdjustedSG&A as %gross 61.2 % 87.7 % (26.4) %profit ^(1)

^ See the section in this release titled "Reconciliation of Certain Non-GAAP(1) Financial 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)

Nine Months Ended September 30,

Currency Increase/ Impact on Constant 2020 2019 (Decrease) % Change Current Currency Period % Change Results

Revenues:

Newvehicle $ 800.1 $ 911.5 $ (111.4) (12.2) % $ (0.8) (12.1) %retailsales

Usedvehicle 529.7 586.8 (57.1) (9.7) % 3.1 (10.3) %retailsales

Usedvehicle 90.6 127.1 (36.6) (28.8) % 0.3 (29.0) %wholesalesales

Total 620.3 714.0 (93.7) (13.1) % 3.4 (13.6) %used

Parts andservice 139.5 172.5 (33.0) (19.1) % 0.8 (19.6) %sales

F&I, net 35.1 43.2 (8.1) (18.8) % - (18.8) %

Total $ 1,595.0 $ 1,841.2 $ (246.2) (13.4) % $ 3.3 (13.6) %revenues

Grossprofit:

Newvehicle $ 34.7 $ 39.6 $ (4.9) (12.4) % $ (0.2) (12.0) %retailsales

Usedvehicle 31.3 25.5 5.8 22.7 % 0.3 21.7 %retailsales

Usedvehicle 2.3 (2.6) 5.0 188.8 % - 188.4 %wholesalesales

Total 33.6 22.9 10.8 47.0 % 0.3 45.9 %used

Parts andservice 78.5 95.5 (17.0) (17.8) % 0.4 (18.3) %sales

F&I, net 35.1 43.2 (8.1) (18.8) % - (18.8) %

Totalgross $ 181.9 $ 201.2 $ (19.3) (9.6) % $ 0.6 (9.9) %profit

Grossmargin:

Newvehicle 4.3 % 4.3 % - %retailsales

Usedvehicle 5.9 % 4.3 % 1.6 %retailsales

Usedvehicle 2.6 % (2.1) % 4.6 %wholesalesales

Total 5.4 % 3.2 % 2.2 %used

Parts andservice 56.3 % 55.4 % 0.9 %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 11.4 % 10.9 % 0.5 %margin

Unitssold:

Retailnew 23,424 28,939 (5,515) (19.1) %vehiclessold

Retailused 22,165 25,284 (3,119) (12.3) %vehiclessold

Wholesaleused 11,517 16,033 (4,516) (28.2) %vehiclessold

Total 33,682 41,317 (7,635) (18.5) %used

Averagesalesprice perunitsold:

Newvehicle $ 34,157 $ 31,498 $ 2,658 8.4 % $ (36) 8.6 %retail

Usedvehicle $ 23,899 $ 23,210 $ 689 3.0 % $ 141 2.4 %retail

Grossprofitper unitsold:

Newvehicle $ 1,482 $ 1,370 $ 112 8.2 % $ (8) 8.8 %retailsales

Usedvehicle $ 1,411 $ 1,008 $ 403 40.0 % $ 12 38.9 %retailsales

Usedvehicle $ 203 $ (164) $ 366 223.7 % $ 1 223.1 %wholesalesales

Total $ 998 $ 553 $ 445 80.4 % $ 8 78.9 %used

F&I PRU $ 769 $ 796 $ (27) (3.4) % $ 1 (3.5) %

Other:

SG&A $ 141.8 $ 175.8 $ (34.0) (19.3) % $ 0.4 (19.6) %expenses

AdjustedSG&A $ 140.6 $ 175.3 $ (34.7) (19.8) % $ 0.4 (20.0) %expenses^(1)

SG&A as %gross 78.0 % 87.4 % (9.4) %profit

AdjustedSG&A as %gross 77.3 % 87.1 % (9.8) %profit ^(1)

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

Group 1 Automotive, Inc.

Reported Operating Data - Brazil

(Unaudited)

(In millions, except unit data)

Three Months Ended September 30,

Currency Increase/ Impact on Constant 2020 2019 (Decrease) % Change Current Currency Period % Change Results

Revenues:

Newvehicle $ 31.9 $ 69.9 $ (38.0) (54.4) % $ (11.2) (38.3) %retailsales

Usedvehicle 10.9 22.8 (11.9) (52.1) % (3.9) (35.1) %retailsales

Usedvehicle 2.4 4.4 (2.0) (44.8) % (0.9) (24.8) %wholesalesales

Total 13.4 27.2 (13.8) (50.9) % (4.7) (33.5) %used

Parts andservice 8.0 12.0 (4.0) (33.6) % (2.9) (9.7) %sales

F&I, net 1.1 1.9 (0.8) (41.4) % (0.4) (20.2) %

Total $ 54.3 $ 110.9 $ (56.6) (51.1) % $ (19.2) (33.8) %revenues

Grossprofit:

Newvehicle $ 2.6 $ 4.5 $ (1.8) (41.2) % $ (0.9) (20.5) %retailsales

Usedvehicle 1.0 1.8 (0.8) (42.6) % (0.4) (22.0) %retailsales

Usedvehicle 0.2 0.3 (0.1) (37.1) % (0.1) (14.7) %wholesalesales

Total 1.2 2.1 (0.9) (41.8) % (0.4) (20.9) %used

Parts andservice 3.7 5.1 (1.5) (28.8) % (1.3) (3.4) %sales

F&I, net 1.1 1.9 (0.8) (41.4) % (0.4) (20.2) %

Totalgross $ 8.6 $ 13.6 $ (5.0) (36.6) % $ (3.1) (14.0) %profit

Grossmargin:

Newvehicle 8.3 % 6.4 % 1.9 %retailsales

Usedvehicle 9.3 % 7.8 % 1.5 %retailsales

Usedvehicle 8.0 % 7.1 % 1.0 %wholesalesales

Total 9.1 % 7.7 % 1.4 %used

Parts andservice 46.1 % 43.0 % 3.1 %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 15.8 % 12.2 % 3.6 %margin

Unitssold:

Retailnew 1,200 2,262 (1,062) (46.9) %vehiclessold

Retailused 552 1,219 (667) (54.7) %vehiclessold

Wholesaleused 282 430 (148) (34.4) %vehiclessold

Total 834 1,649 (815) (49.4) %used

Averagesalesprice perunitsold:

Newvehicle $ 26,558 $ 30,883 $ (4,325) (14.0) % $ (9,343) 16.2 %retail

Usedvehicle $ 19,766 $ 18,681 $ 1,085 5.8 % $ (6,995) 43.3 %retail

Grossprofitper unitsold:

Newvehicle $ 2,196 $ 1,980 $ 216 10.9 % $ (772) 49.9 %retailsales

Usedvehicle $ 1,840 $ 1,453 $ 387 26.7 % $ (661) 72.2 %retailsales

Usedvehicle $ 696 $ 726 $ (30) (4.1) % $ (247) 30.0 %wholesalesales

Total $ 1,453 $ 1,263 $ 190 15.1 % $ (521) 56.3 %used

F&I PRU $ 621 $ 533 $ 88 16.5 % $ (224) 58.5 %

Other:

SG&A $ 6.9 $ 11.0 $ (4.2) (37.8) % $ (2.5) (15.5) %expenses

SG&A as %gross 79.9 % 81.4 % (1.5) %profit

Group 1 Automotive, Inc.

Reported Operating Data - Brazil

(Unaudited)

(In millions, except unit data)

Nine Months Ended September 30,

Currency Increase/ Impact on Constant 2020 2019 (Decrease) % Change Current Currency Period % Change Results

Revenues:

Newvehicle $ 109.1 $ 208.4 $ (99.2) (47.6) % $ (27.4) (34.5) %retailsales

Usedvehicle 38.3 63.4 (25.1) (39.6) % (9.6) (24.4) %retailsales

Usedvehicle 9.2 13.3 (4.1) (31.1) % (2.5) (12.2) %wholesalesales

Total 47.5 76.7 (29.3) (38.1) % (12.1) (22.3) %used

Parts andservice 23.4 36.1 (12.7) (35.2) % (6.6) (17.0) %sales

F&I, net 3.4 5.6 (2.2) (39.9) % (0.9) (24.2) %

Total $ 183.4 $ 326.9 $ (143.5) (43.9) % $ (47.0) (29.5) %revenues

Grossprofit:

Newvehicle $ 7.5 $ 12.6 $ (5.1) (40.3) % $ (2.0) (24.6) %retailsales

Usedvehicle 2.5 4.7 (2.2) (46.6) % (0.7) (31.9) %retailsales

Usedvehicle 0.5 0.9 (0.4) (45.6) % (0.1) (30.1) %wholesalesales

Total 3.0 5.6 (2.6) (46.5) % (0.8) (31.6) %used

Parts andservice 10.3 15.8 (5.5) (34.7) % (2.9) (16.4) %sales

F&I, net 3.4 5.6 (2.2) (39.9) % (0.9) (24.2) %

Totalgross $ 24.2 $ 39.6 $ (15.4) (38.9) % $ (6.6) (22.2) %profit

Grossmargin:

Newvehicle 6.9 % 6.1 % 0.8 %retailsales

Usedvehicle 6.5 % 7.4 % (0.9) %retailsales

Usedvehicle 5.2 % 6.6 % (1.4) %wholesalesales

Total 6.3 % 7.3 % (1.0) %used

Parts andservice 44.1 % 43.8 % 0.3 %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 13.2 % 12.1 % 1.1 %margin

Unitssold:

Retailnew 3,865 6,911 (3,046) (44.1) %vehiclessold

Retailused 2,006 3,295 (1,289) (39.1) %vehiclessold

Wholesaleused 1,081 1,386 (305) (22.0) %vehiclessold

Total 3,087 4,681 (1,594) (34.1) %used

Averagesalesprice perunitsold:

Newvehicle $ 28,238 $ 30,153 $ (1,915) (6.4) % $ (7,093) 17.2 %retail

Usedvehicle $ 19,100 $ 19,251 $ (151) (0.8) % $ (4,794) 24.1 %retail

Grossprofitper unitsold:

Newvehicle $ 1,950 $ 1,826 $ 123 6.7 % $ (514) 34.9 %retailsales

Usedvehicle $ 1,245 $ 1,421 $ (175) (12.3) % $ (343) 11.8 %retailsales

Usedvehicle $ 444 $ 637 $ (192) (30.2) % $ (126) (10.4) %wholesalesales

Total $ 965 $ 1,189 $ (224) (18.8) % $ (267) 3.7 %used

F&I PRU $ 576 $ 551 $ 25 4.5 % $ (150) 31.8 %

Other:

SG&A $ 23.1 $ 35.0 $ (11.9) (34.0) % $ (6.4) (15.8) %expenses

AdjustedSG&A $ 22.2 $ 35.0 $ (12.8) (36.5) % $ (6.2) (19.0) %expenses^(1)

SG&A as %gross 95.3 % 88.3 % 7.0 %profit

AdjustedSG&A as %gross 91.7 % 88.3 % 3.4 %profit ^(1)

^ See the section in this release titled "Reconciliation of Certain Non-GAAP(1) Financial 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 2020 2019 Increase/ % Change on Currency (Decrease) Current % Change Period Results

Revenues:

Newvehicle $ 1,549.8 $ 1,644.4 $ (94.6) (5.8) % $ 4.1 (6.0) %retailsales

Usedvehicle 843.8 864.0 (20.3) (2.3) % 6.9 (3.1) %retailsales

Usedvehicle 84.5 84.2 0.3 0.4 % 0.8 (0.5) %wholesalesales

Total 928.3 948.2 (19.9) (2.1) % 7.7 (2.9) %used

Parts andservice 367.3 377.0 (9.7) (2.6) % (0.3) (2.5) %sales

F&I, net 127.8 127.0 0.8 0.6 % 0.3 0.4 %

Total $ 2,973.2 $ 3,096.7 $ (123.5) (4.0) % $ 11.8 (4.4) %revenues

Grossprofit:

Newvehicle $ 96.9 $ 74.9 $ 22.0 29.4 % $ (0.2) 29.7 %retailsales

Usedvehicle 69.3 54.0 15.3 28.3 % 0.4 27.5 %retailsales

Usedvehicle 5.8 0.3 5.5 1,635.0 % - 1,634.2 %wholesalesales

Total 75.1 54.3 20.8 38.3 % 0.4 37.5 %used

Parts andservice 201.0 205.1 (4.0) (2.0) % 0.2 (2.1) %sales

F&I, net 127.8 127.0 0.8 0.6 % 0.3 0.4 %

Totalgross $ 500.8 $ 461.3 $ 39.5 8.6 % $ 0.7 8.4 %profit

Grossmargin:

Newvehicle 6.3 % 4.6 % 1.7 %retailsales

Usedvehicle 8.2 % 6.2 % 2.0 %retailsales

Usedvehicle 6.9 % 0.4 % 6.5 %wholesalesales

Total 8.1 % 5.7 % 2.4 %used

Parts andservice 54.7 % 54.4 % 0.3 %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 16.8 % 14.9 % 1.9 %margin

Unitssold:

Retailnew 39,152 44,389 (5,237) (11.8) %vehiclessold

Retailused 37,486 40,990 (3,504) (8.5) %vehiclessold

Wholesaleused 11,312 12,751 (1,439) (11.3) %vehiclessold

Total 48,798 53,741 (4,943) (9.2) %used

Averagesalesprice perunitsold:

Newvehicle $ 39,584 $ 37,046 $ 2,538 6.9 % $ 104 6.6 %retail

Usedvehicle $ 22,509 $ 21,079 $ 1,430 6.8 % $ 185 5.9 %retail

Grossprofitper unitsold:

Newvehicle $ 2,475 $ 1,687 $ 788 46.7 % $ (5) 47.0 %retailsales

Usedvehicle $ 1,848 $ 1,317 $ 531 40.3 % $ 12 39.4 %retailsales

Usedvehicle $ 516 $ 26 $ 490 1,855.7 % $ - 1,854.8 %wholesalesales

Total $ 1,539 $ 1,011 $ 528 52.3 % $ 9 51.4 %used

F&I PRU $ 1,668 $ 1,488 $ 180 12.1 % $ 3 11.9 %

Other:

SG&A $ 298.9 $ 348.6 $ (49.7) (14.3) % $ (0.1) (14.2) %expenses

AdjustedSG&A $ 298.9 $ 336.0 $ (37.1) (11.0) % $ (0.1) (11.0) %expenses^(1)

SG&A as %gross 59.7 % 75.6 % (15.9) %profit

AdjustedSG&A as %gross 59.7 % 72.8 % (13.2) %profit ^(1)

Operating 6.2 % 2.7 % 3.4 %margin %

Adjustedoperating 6.2 % 3.5 % 2.7 %margin %^(1)

^ See the section in this release titled "Reconciliation of Certain Non-GAAP(1) Financial 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 Increase/ Impact on Constant 2020 2019 (Decrease) % Change Current Currency Period % Change Results

Revenues:

Newvehicle $ 3,882.7 $ 4,587.8 $ (705.1) (15.4) % $ (27.7) (14.8) %retailsales

Usedvehicle 2,216.8 2,495.1 (278.2) (11.2) % (6.4) (10.9) %retailsales

Usedvehicle 214.4 265.0 (50.6) (19.1) % (2.2) (18.3) %wholesalesales

Total 2,431.2 2,760.1 (328.8) (11.9) % (8.6) (11.6) %used

Parts andservice 1,000.2 1,109.3 (109.1) (9.8) % (5.9) (9.3) %sales

F&I, net 333.5 365.4 (31.9) (8.7) % (0.8) (8.5) %

Total $ 7,647.6 $ 8,822.6 $ (1,175.0) (13.3) % $ (43.0) (12.8) %revenues

Grossprofit:

Newvehicle $ 218.0 $ 214.7 $ 3.3 1.5 % $ (2.1) 2.5 %retailsales

Usedvehicle 154.8 154.2 0.7 0.4 % (0.4) 0.7 %retailsales

Usedvehicle 8.9 0.9 8.0 883.8 % (0.1) 897.4 %wholesalesales

Total 163.7 155.1 8.6 5.6 % (0.6) 5.9 %used

Parts andservice 538.4 600.3 (61.9) (10.3) % (2.5) (9.9) %sales

F&I, net 333.5 365.4 (31.9) (8.7) % (0.8) (8.5) %

Totalgross $ 1,253.6 $ 1,335.5 $ (81.9) (6.1) % $ (6.0) (5.7) %profit

Grossmargin:

Newvehicle 5.6 % 4.7 % 0.9 %retailsales

Usedvehicle 7.0 % 6.2 % 0.8 %retailsales

Usedvehicle 4.1 % 0.3 % 3.8 %wholesalesales

Total 6.7 % 5.6 % 1.1 %used

Parts andservice 53.8 % 54.1 % (0.3) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 16.4 % 15.1 % 1.3 %margin

Unitssold:

Retailnew 99,073 123,927 (24,854) (20.1) %vehiclessold

Retailused 102,802 118,142 (15,340) (13.0) %vehiclessold

Wholesaleused 30,030 38,135 (8,105) (21.3) %vehiclessold

Total 132,832 156,277 (23,445) (15.0) %used

Averagesalesprice perunitsold:

Newvehicle $ 39,190 $ 37,020 $ 2,170 5.9 % $ (280) 6.6 %retail

Usedvehicle $ 21,564 $ 21,119 $ 445 2.1 % $ (62) 2.4 %retail

Grossprofitper unitsold:

Newvehicle $ 2,200 $ 1,733 $ 468 27.0 % $ (22) 28.2 %retailsales

Usedvehicle $ 1,506 $ 1,305 $ 201 15.4 % $ (4) 15.7 %retailsales

Usedvehicle $ 296 $ 24 $ 272 1,149.3 % $ (4) 1,166.6 %wholesalesales

Total $ 1,232 $ 992 $ 240 24.2 % $ (4) 24.6 %used

F&I PRU $ 1,652 $ 1,510 $ 143 9.4 % $ (4) 9.7 %

Other:

SG&A $ 843.4 $ 1,005.9 $ (162.5) (16.2) % $ (5.9) (15.6) %expenses

AdjustedSG&A $ 830.7 $ 986.6 $ (155.8) (15.8) % $ (5.7) (15.2) %expenses^(1)

SG&A as %gross 67.3 % 75.3 % (8.0) %profit

AdjustedSG&A as %gross 66.3 % 73.9 % (7.6) %profit ^(1)

Operating 4.3 % 3.0 % 1.3 %margin %

Adjustedoperating 4.8 % 3.4 % 1.5 %margin %^(1)

^ See the section in this release titled "Reconciliation of Certain Non-GAAP(1) Financial 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,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $ 1,157.7 $ 1,285.3 $ (127.6) (9.9) %

Used vehicle retail sales 595.3 653.8 (58.5) (8.9) %

Used vehicle wholesale sales 44.2 45.3 (1.1) (2.3) %

Total used 639.5 699.1 (59.5) (8.5) %

Parts and service sales 302.5 312.9 (10.4) (3.3) %

F&I, net 112.1 112.3 (0.2) (0.2) %

Total revenues $ 2,211.9 $ 2,409.6 $ (197.7) (8.2) %

Gross profit:

New vehicle retail sales $ 78.2 $ 58.2 $ 20.0 34.3 %

Used vehicle retail sales 51.7 43.4 8.3 19.1 %

Used vehicle wholesale sales 3.7 0.3 3.4 987.9 %

Total used 55.4 43.8 11.6 26.6 %

Parts and service sales 163.8 170.6 (6.8) (4.0) %

F&I, net 112.1 112.3 (0.2) (0.2) %

Total gross profit $ 409.5 $ 384.8 $ 24.6 6.4 %

Gross margin:

New vehicle retail sales 6.8 % 4.5 % 2.2 %

Used vehicle retail sales 8.7 % 6.6 % 2.0 %

Used vehicle wholesale sales 8.4 % 0.8 % 7.6 %

Total used 8.7 % 6.3 % 2.4 %

Parts and service sales 54.1 % 54.5 % (0.4) %

F&I, net 100.0 % 100.0 % - %

Total gross margin 18.5 % 16.0 % 2.5 %

Units sold:

Retail new vehicles sold 27,696 32,854 (5,158) (15.7) %

Retail used vehicles sold 27,229 31,267 (4,038) (12.9) %

Wholesale used vehicles sold 6,122 7,474 (1,352) (18.1) %

Total used 33,351 38,741 (5,390) (13.9) %

Average sales price per unitsold:

New vehicle retail $ 41,801 $ 39,121 $ 2,679 6.8 %

Used vehicle retail $ 21,864 $ 20,911 $ 953 4.6 %

Gross profit per unit sold:

New vehicle retail sales $ 2,824 $ 1,772 $ 1,052 59.3 %

Used vehicle retail sales $ 1,898 $ 1,388 $ 510 36.7 %

Used vehicle wholesale sales $ 604 $ 45 $ 559 1,228.1 %

Total used $ 1,661 $ 1,129 $ 531 47.0 %

F&I PRU $ 2,041 $ 1,751 $ 290 16.6 %

Other:

SG&A expenses $ 241.9 $ 282.9 $ (41.0) (14.5) %

Adjusted SG&A expenses ^(1) $ 241.9 $ 270.5 $ (28.6) (10.6) %

SG&A as % gross profit 59.1 % 73.5 % (14.4) %

Adjusted SG&A as % gross profit 59.1 % 70.3 % (11.2) %^(1)

^ See the section in this release titled "Reconciliation of Certain Non-GAAP(1) Financial 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,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $ 3,026.1 $ 3,494.0 $ (467.9) (13.4) %

Used vehicle retail sales 1,680.6 1,861.4 (180.8) (9.7) %

Used vehicle wholesale sales 120.4 130.2 (9.8) (7.5) %

Total used 1,801.0 1,991.6 (190.6) (9.6) %

Parts and service sales 850.3 914.6 (64.3) (7.0) %

F&I, net 297.5 317.6 (20.1) (6.3) %

Total revenues $ 5,974.9 $ 6,717.8 $ (742.9) (11.1) %

Gross profit:

New vehicle retail sales $ 178.0 $ 163.2 $ 14.7 9.0 %

Used vehicle retail sales 122.7 124.3 (1.7) (1.3) %

Used vehicle wholesale sales 6.1 2.5 3.7 150.6 %

Total used 128.8 126.8 2.0 1.6 %

Parts and service sales 456.7 495.5 (38.8) (7.8) %

F&I, net 297.5 317.6 (20.1) (6.3) %

Total gross profit $ 1,061.0 $ 1,103.2 $ (42.1) (3.8) %

Gross margin:

New vehicle retail sales 5.9 % 4.7 % 1.2 %

Used vehicle retail sales 7.3 % 6.7 % 0.6 %

Used vehicle wholesale sales 5.1 % 1.9 % 3.2 %

Total used 7.2 % 6.4 % 0.8 %

Parts and service sales 53.7 % 54.2 % (0.5) %

F&I, net 100.0 % 100.0 % - %

Total gross margin 17.8 % 16.4 % 1.3 %

Units sold:

Retail new vehicles sold 73,433 89,170 (15,737) (17.6) %

Retail used vehicles sold 80,055 90,190 (10,135) (11.2) %

Wholesale used vehicles sold 18,169 21,159 (2,990) (14.1) %

Total used 98,224 111,349 (13,125) (11.8) %

Average sales price per unitsold:

New vehicle retail $ 41,209 $ 39,183 $ 2,026 5.2 %

Used vehicle retail $ 20,993 $ 20,639 $ 354 1.7 %

Gross profit per unit sold:

New vehicle retail sales $ 2,424 $ 1,831 $ 593 32.4 %

Used vehicle retail sales $ 1,532 $ 1,378 $ 154 11.2 %

Used vehicle wholesale sales $ 338 $ 116 $ 222 191.8 %

Total used $ 1,311 $ 1,138 $ 173 15.2 %

F&I PRU $ 1,938 $ 1,771 $ 167 9.4 %

Other:

SG&A expenses $ 693.1 $ 805.5 $ (112.4) (14.0) %

Adjusted SG&A expenses ^(1) $ 682.5 $ 786.3 $ (103.8) (13.2) %

SG&A as % gross profit 65.3 % 73.0 % (7.7) %

Adjusted SG&A as % gross 64.3 % 71.3 % (7.0) %profit ^(1)

^ See the section in this release titled "Reconciliation of Certain Non-GAAP(1) Financial 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 Increase/ Impact on Constant 2020 2019 (Decrease) % Change Current Currency Period % Change Results

Revenues:

Newvehicle $ 360.2 $ 289.3 $ 70.9 24.5 % $ 15.3 19.2 %retailsales

Usedvehicle 237.5 187.6 50.0 26.6 % 10.8 20.9 %retailsales

Usedvehicle 37.9 34.5 3.4 9.8 % 1.7 4.9 %wholesalesales

Total 275.4 222.1 53.3 24.0 % 12.5 18.4 %used

Parts andservice 56.8 52.3 4.5 8.6 % 2.5 3.8 %sales

F&I, net 14.6 12.9 1.7 13.3 % 0.6 8.3 %

Total $ 707.0 $ 576.5 $ 130.5 22.6 % $ 30.9 17.3 %revenues

Grossprofit:

Newvehicle $ 16.1 $ 12.2 $ 3.9 32.0 % $ 0.7 26.1 %retailsales

Usedvehicle 16.6 8.8 7.8 87.9 % 0.8 78.9 %retailsales

Usedvehicle 1.9 (0.3) 2.3 717.3 % 0.1 694.3 %wholesalesales

Total 18.5 8.5 10.0 117.8 % 0.9 107.6 %used

Parts andservice 33.6 29.3 4.3 14.6 % 1.5 9.5 %sales

F&I, net 14.6 12.9 1.7 13.3 % 0.6 8.3 %

Totalgross $ 82.8 $ 62.9 $ 19.9 31.6 % $ 3.7 25.7 %profit

Grossmargin:

Newvehicle 4.5 % 4.2 % 0.3 %retailsales

Usedvehicle 7.0 % 4.7 % 2.3 %retailsales

Usedvehicle 5.1 % (0.9) % 6.1 %wholesalesales

Total 6.7 % 3.8 % 2.9 %used

Parts andservice 59.1 % 56.1 % 3.1 %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 11.7 % 10.9 % 0.8 %margin

Unitssold:

Retailnew 10,256 9,273 983 10.6 %vehiclessold

Retailused 9,705 8,507 1,198 14.1 %vehiclessold

Wholesaleused 4,908 4,847 61 1.3 %vehiclessold

Total 14,613 13,354 1,259 9.4 %used

Averagesalesprice perunitsold:

Newvehicle $ 35,123 $ 31,195 $ 3,927 12.6 % $ 1,490 7.8 %retail

Usedvehicle $ 24,474 $ 22,049 $ 2,425 11.0 % $ 1,114 5.9 %retail

Grossprofitper unitsold:

Newvehicle $ 1,565 $ 1,312 $ 253 19.3 % $ 69 14.0 %retailsales

Usedvehicle $ 1,708 $ 1,037 $ 671 64.7 % $ 82 56.8 %retailsales

Usedvehicle $ 397 $ (65) $ 462 709.7 % $ 15 686.9 %wholesalesales

Total $ 1,268 $ 637 $ 631 99.0 % $ 60 89.7 %used

F&I PRU $ 732 $ 725 $ 7 0.9 % $ 32 (3.5) %

Other:

SG&A $ 50.1 $ 54.4 $ (4.3) (7.9) % $ 2.3 (12.1) %expenses

AdjustedSG&A $ 50.1 $ 54.2 $ (4.1) (7.6) % $ 2.3 (11.8) %expenses^(1)

SG&A as %gross 60.6 % 86.5 % (26.0) %profit

AdjustedSG&A as %gross 60.6 % 86.2 % (25.7) %profit ^(1)

^ See the section in this release titled "Reconciliation of Certain Non-GAAP(1) Financial 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)

Nine Months Ended September 30,

Currency Increase/ Impact on Constant 2020 2019 (Decrease) % Change Current Currency Period % Change Results

Revenues:

Newvehicle $ 747.4 $ 888.3 $ (140.9) (15.9) % $ (0.3) (15.8) %retailsales

Usedvehicle 498.0 573.0 (75.0) (13.1) % 3.2 (13.7) %retailsales

Usedvehicle 84.8 123.6 (38.8) (31.4) % 0.3 (31.6) %wholesalesales

Total 582.8 696.6 (113.8) (16.3) % 3.5 (16.8) %used

Parts andservice 126.5 159.4 (32.8) (20.6) % 0.7 (21.1) %sales

F&I, net 32.6 42.2 (9.6) (22.7) % - (22.8) %

Total $ 1,489.3 $ 1,786.4 $ (297.1) (16.6) % $ 3.9 (16.8) %revenues

Grossprofit:

Newvehicle $ 32.5 $ 38.8 $ (6.4) (16.4) % $ (0.2) (16.0) %retailsales

Usedvehicle 29.7 25.2 4.5 17.9 % 0.3 16.9 %retailsales

Usedvehicle 2.2 (2.4) 4.7 193.0 % - 192.5 %wholesalesales

Total 31.9 22.7 9.2 40.3 % 0.3 39.1 %used

Parts andservice 71.3 89.3 (18.0) (20.1) % 0.4 (20.6) %sales

F&I, net 32.6 42.2 (9.6) (22.7) % - (22.8) %

Totalgross $ 168.4 $ 193.1 $ (24.7) (12.8) % $ 0.6 (13.1) %profit

Grossmargin:

Newvehicle 4.3 % 4.4 % - %retailsales

Usedvehicle 6.0 % 4.4 % 1.6 %retailsales

Usedvehicle 2.7 % (2.0) % 4.6 %wholesalesales

Total 5.5 % 3.3 % 2.2 %used

Parts andservice 56.4 % 56.0 % 0.4 %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 11.3 % 10.8 % 0.5 %margin

Unitssold:

Retailnew 21,775 27,891 (6,116) (21.9) %vehiclessold

Retailused 20,741 24,735 (3,994) (16.1) %vehiclessold

Wholesaleused 10,780 15,657 (4,877) (31.1) %vehiclessold

Total 31,521 40,392 (8,871) (22.0) %used

Averagesalesprice perunitsold:

Newvehicle $ 34,324 $ 31,848 $ 2,476 7.8 % $ (15) 7.8 %retail

Usedvehicle $ 24,008 $ 23,165 $ 843 3.6 % $ 155 3.0 %retail

Grossprofitper unitsold:

Newvehicle $ 1,491 $ 1,393 $ 98 7.1 % $ (7) 7.6 %retailsales

Usedvehicle $ 1,430 $ 1,017 $ 413 40.6 % $ 12 39.4 %retailsales

Usedvehicle $ 209 $ (154) $ 363 235.1 % $ 1 234.3 %wholesalesales

Total $ 1,012 $ 563 $ 449 79.8 % $ 8 78.3 %used

F&I PRU $ 767 $ 802 $ (35) (4.3) % $ 1 (4.4) %

Other:

SG&A $ 127.3 $ 166.0 $ (38.7) (23.3) % $ 0.4 (23.6) %expenses

AdjustedSG&A $ 126.1 $ 165.8 $ (39.8) (24.0) % $ 0.5 (24.3) %expenses^(1)

SG&A as %gross 75.6 % 86.0 % (10.4) %profit

AdjustedSG&A as %gross 74.9 % 85.9 % (11.0) %profit ^(1)

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

Group 1 Automotive, Inc.

Same Store Operating Data - Brazil

(Unaudited)

(In millions, except unit data)

Three Months Ended September 30,

Currency Increase/ Impact on Constant 2020 2019 (Decrease) % Change Current Currency Period % Change Results

Revenues:

Newvehicle $ 31.9 $ 69.9 $ (38.0) (54.4) % $ (11.2) (38.3) %retailsales

Usedvehicle 10.9 22.6 (11.7) (51.8) % (3.9) (34.7) %retailsales

Usedvehicle 2.4 4.4 (2.0) (44.8) % (0.9) (24.8) %wholesalesales

Total 13.4 27.1 (13.7) (50.6) % (4.7) (33.1) %used

Parts andservice 7.9 11.8 (3.8) (32.5) % (2.8) (8.4) %sales

F&I, net 1.1 1.9 (0.8) (41.4) % (0.4) (20.3) %

Total $ 54.3 $ 110.5 $ (56.3) (50.9) % $ (19.2) (33.6) %revenues

Grossprofit:

Newvehicle $ 2.6 $ 4.5 $ (1.9) (41.3) % $ (0.9) (20.7) %retailsales

Usedvehicle 1.0 1.8 (0.7) (42.3) % (0.4) (21.5) %retailsales

Usedvehicle 0.2 0.3 (0.1) (37.1) % (0.1) (14.7) %wholesalesales

Total 1.2 2.1 (0.9) (41.5) % (0.4) (20.5) %used

Parts andservice 3.7 5.2 (1.5) (29.0) % (1.3) (3.6) %sales

F&I, net 1.1 1.9 (0.8) (41.4) % (0.4) (20.3) %

Totalgross $ 8.6 $ 13.6 $ (5.0) (36.7) % $ (3.1) (14.1) %profit

Grossmargin:

Newvehicle 8.3 % 6.4 % 1.8 %retailsales

Usedvehicle 9.3 % 7.8 % 1.5 %retailsales

Usedvehicle 8.0 % 7.1 % 1.0 %wholesalesales

Total 9.1 % 7.7 % 1.4 %used

Parts andservice 46.1 % 43.8 % 2.3 %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 15.8 % 12.3 % 3.6 %margin

Unitssold:

Retailnew 1,200 2,262 (1,062) (46.9) %vehiclessold

Retailused 552 1,216 (664) (54.6) %vehiclessold

Wholesaleused 282 430 (148) (34.4) %vehiclessold

Total 834 1,646 (812) (49.3) %used

Averagesalesprice perunitsold:

Newvehicle $ 26,558 $ 30,883 $ (4,325) (14.0) % $ (9,343) 16.2 %retail

Usedvehicle $ 19,766 $ 18,613 $ 1,152 6.2 % $ (7,001) 43.8 %retail

Grossprofitper unitsold:

Newvehicle $ 2,196 $ 1,985 $ 211 10.6 % $ (772) 49.5 %retailsales

Usedvehicle $ 1,840 $ 1,447 $ 393 27.2 % $ (662) 72.9 %retailsales

Usedvehicle $ 696 $ 726 $ (30) (4.1) % $ (247) 30.0 %wholesalesales

Total $ 1,453 $ 1,258 $ 195 15.5 % $ (522) 56.9 %used

F&I PRU $ 621 $ 533 $ 87 16.3 % $ (224) 58.3 %

Other:

SG&A $ 6.9 $ 11.2 $ (4.4) (38.9) % $ (2.5) (17.0) %expenses

SG&A as %gross 79.8 % 82.6 % (2.9) %profit

Group 1 Automotive, Inc.

Same Store Operating Data - Brazil

(Unaudited)

(In millions, except unit data)

Nine Months Ended September 30,

Currency Increase/ Impact on Constant 2020 2019 (Decrease) % Change Current Currency Period % Change Results

Revenues:

Newvehicle $ 109.1 $ 205.6 $ (96.4) (46.9) % $ (27.4) (33.6) %retailsales

Usedvehicle 38.3 60.7 (22.4) (36.9) % (9.6) (21.1) %retailsales

Usedvehicle 9.2 11.2 (2.0) (18.1) % (2.5) 4.4 %wholesalesales

Total 47.4 71.9 (24.4) (34.0) % (12.1) (17.1) %used

Parts andservice 23.4 35.4 (12.0) (33.9) % (6.6) (15.2) %sales

F&I, net 3.4 5.6 (2.2) (39.1) % (0.9) (23.2) %

Total $ 183.4 $ 318.3 $ (135.0) (42.4) % $ (47.0) (27.7) %revenues

Grossprofit:

Newvehicle $ 7.5 $ 12.6 $ (5.1) (40.3) % $ (2.0) (24.6) %retailsales

Usedvehicle 2.5 4.7 (2.2) (46.6) % (0.7) (31.8) %retailsales

Usedvehicle 0.5 0.9 (0.4) (44.5) % (0.1) (28.8) %wholesalesales

Total 3.0 5.5 (2.6) (46.3) % (0.8) (31.4) %used

Parts andservice 10.3 15.5 (5.2) (33.4) % (2.9) (14.7) %sales

F&I, net 3.4 5.6 (2.2) (39.1) % (0.9) (23.2) %

Totalgross $ 24.2 $ 39.2 $ (15.0) (38.3) % $ (6.6) (21.4) %profit

Grossmargin:

Newvehicle 6.9 % 6.1 % 0.8 %retailsales

Usedvehicle 6.5 % 7.7 % (1.2) %retailsales

Usedvehicle 5.2 % 7.7 % (2.5) %wholesalesales

Total 6.3 % 7.7 % (1.4) %used

Parts andservice 44.1 % 43.8 % 0.3 %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 13.2 % 12.3 % 0.9 %margin

Unitssold:

Retailnew 3,865 6,866 (3,001) (43.7) %vehiclessold

Retailused 2,006 3,217 (1,211) (37.6) %vehiclessold

Wholesaleused 1,081 1,319 (238) (18.0) %vehiclessold

Total 3,087 4,536 (1,449) (31.9) %used

Averagesalesprice perunitsold:

Newvehicle $ 28,238 $ 29,938 $ (1,701) (5.7) % $ (7,089) 18.0 %retail

Usedvehicle $ 19,086 $ 18,861 $ 225 1.2 % $ (4,781) 26.5 %retail

Grossprofitper unitsold:

Newvehicle $ 1,950 $ 1,839 $ 110 6.0 % $ (514) 33.9 %retailsales

Usedvehicle $ 1,244 $ 1,453 $ (210) (14.4) % $ (345) 9.3 %retailsales

Usedvehicle $ 444 $ 656 $ (212) (32.3) % $ (126) (13.1) %wholesalesales

Total $ 964 $ 1,222 $ (258) (21.1) % $ (268) 0.9 %used

F&I PRU $ 576 $ 551 $ 25 4.6 % $ (150) 31.9 %

Other:

SG&A $ 23.0 $ 34.4 $ (11.4) (33.1) % $ (6.4) (14.7) %expenses

AdjustedSG&A $ 22.1 $ 34.4 $ (12.3) (35.7) % $ (6.1) (17.9) %expenses^(1)

SG&A as %gross 95.1 % 87.8 % 7.3 %profit

AdjustedSG&A as %gross 91.4 % 87.8 % 3.7 %profit ^(1)

^ See the section in this release titled "Reconciliation of Certain Non-GAAP(1) Financial 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, 2020

(Gain) loss on Non-GAAP U.S. GAAP extinguishment of adjusted debt

(Gain) loss on extinguishment of debt $ 3.3 $ (3.3) $ -

Income (loss) before income taxes $ 161.0 $ 3.3 $ 164.3

Less: (Benefit) provision for income 34.6 0.8 35.3taxes

Net income (loss) 126.4 2.6 129.0

Less: Earnings (loss) allocated to 4.5 0.1 4.6participating securities

Net income (loss) available to diluted $ 121.9 $ 2.5 $ 124.4common shares

Diluted income (loss) 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 (gain) loss on extinguishment 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, 2019

Catastrophic Dealership and Asset Non-GAAP U.S. GAAP events real estate impairments adjusted transactions

SG&A expenses $ 353.9 $ (11.9) $ (1.3) $ - $ 340.8

Asset $ 10.3 $ - $ - $ (10.3) $ -impairments

Income (loss)from $ 83.3 $ 11.9 $ 1.3 $ 10.3 $ 106.7operations

Income (loss)before income $ 49.0 $ 11.9 $ 1.3 $ 10.3 $ 72.4taxes

Less:(Benefit) 10.9 2.9 0.3 2.0 16.1provision forincome taxes

Net income 38.0 9.0 1.0 8.3 56.3(loss)

Less: Earnings(loss)allocated to 1.4 0.3 - 0.3 2.1participatingsecurities

Net income(loss)available to $ 36.7 $ 8.6 $ 1.0 $ 8.0 $ 54.2diluted commonshares

Diluted income(loss) per $ 2.04 $ 0.48 $ 0.05 $ 0.44 $ 3.02common share

Effective tax 22.3 % 22.3 %rate

SG&A as %gross profit ^ 76.0 % 73.2 %(1)

Operating 2.7 % 3.4 %margin ^(2)

Pretax margin 1.6 % 2.3 %^(2)

Same Store SG& $ 348.6 $ (11.9) $ (0.7) $ - $ 336.0A expenses

Same Store SG&A as % gross 75.6 % 72.8 %profit^ (1)

Same Storeincome (loss) $ 84.6 $ 11.9 $ 0.7 $ 10.2 $ 107.4fromoperations

Same Storeoperating 2.7 % 3.5 %margin^ (2)

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

^ Adjusted operating margin and pretax margin exclude the impact of SG&A(2) reconciling items above and asset impairment charges.

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

Severance Out-of-period Asset (Gain) loss on Non-GAAP U.S. GAAP costs adjustment impairments extinguishment adjusted of debt

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

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

Income (loss) $ 336.0 $ 2.1 $ 10.6 $ 23.8 $ - $ 372.5from operations

(Gain) loss onextinguishment $ 13.7 $ - $ - $ - $ (13.7) $ -of debt

Income (loss)before income $ 242.2 $ 2.1 $ 10.6 $ 23.8 $ 13.7 $ 292.4taxes

Less: (Benefit)provision for 55.8 0.3 0.8 3.3 3.0 63.3income taxes

Net income 186.4 1.8 9.7 20.6 10.7 229.2(loss)

Less: Earnings(loss)allocated to 6.7 0.1 0.4 0.7 0.4 8.2participatingsecurities

Net income(loss)available to $ 179.7 $ 1.7 $ 9.4 $ 19.8 $ 10.3 $ 220.9diluted commonshares

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

Effective tax 23.1 % 21.6 %rate

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

Operating 4.3 % 4.7 %margin ^(2)

Pretax margin ^ 3.1 % 3.7 %(3)

Same Store SG&A $ 843.4 $ (2.1) $ (10.6) $ - $ - $ 830.7expenses

Same Store SG&Aas % gross 67.3 % 66.3 %profit ^(1)

Same Storeincome (loss) $ 332.3 $ 2.1 $ 10.6 $ 23.8 $ - $ 368.8from operations

Same Storeoperating 4.3 % 4.8 %margin ^(2)

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

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

^ Adjusted pretax margin excludes the impact of SG&A reconciling items above,(3) asset impairment charges and (gain) loss on extinguishment 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, 2019

Dealership U.S. GAAP Catastrophic and real Legal Asset Non-GAAP events estate matters impairments adjusted transactions

SG&A expenses $ 1,020.3 $ (17.8) $ 4.1 $ (2.0) $ - $ 1,004.6

Asset $ 10.8 $ - $ - $ - $ (10.8) $ -impairments

Income (loss)from $ 267.2 $ 17.8 $ (4.1) $ 2.0 $ 10.8 $ 293.7operations

Income (loss)before income $ 164.4 $ 17.8 $ (4.1) $ 2.0 $ 10.8 $ 190.9taxes

Less:(Benefit) 38.5 4.4 (1.7) 0.5 2.0 43.7provision forincome taxes

Net income 125.9 13.4 (2.5) 1.5 8.8 147.2(loss)

Less:Earnings(loss) 4.7 0.5 (0.1) 0.1 0.3 5.5allocated toparticipatingsecurities

Net income(loss)available to $ 121.2 $ 12.9 $ (2.4) $ 1.5 $ 8.5 $ 141.7dilutedcommon shares

Dilutedincome (loss) $ 6.77 $ 0.72 $ (0.13) $ 0.08 $ 0.47 $ 7.92per commonshare

Effective tax 23.4 % 22.9 %rate

SG&A as %gross profit 75.5 % 74.3 %^(1)

Operating 3.0 % 3.3 %margin ^(2)

Pretax margin 1.8 % 2.1 %^(2)

Same Store SG $ 1,005.9 $ (17.8) $ 0.4 $ (1.8) $ - $ 986.6&A expenses

Same Store SG&A as % gross 75.3 % 73.9 %profit ^(1)

Same Storeincome (loss) $ 266.5 $ 17.8 $ (0.4) $ 1.8 $ 10.8 $ 296.6fromoperations

Same Storeoperating 3.0 % 3.4 %margin ^(2)

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

^ Adjusted operating margin and pretax margin exclude the impact of SG&A(2) reconciling items above and asset impairment charges.

Group 1 Automotive, Inc.

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

(Unaudited)

(In millions)

Three Months Ended September 30, 2019

U.S. GAAP Catastrophic Dealership and real Non-GAAP events estate transactions adjusted

SG&A expenses $ 285.3 $ (11.9) $ (0.8) $ 272.6

SG&A as % gross 73.7 % 70.5 %profit^ (1)

Same Store SG&A $ 282.9 $ (11.9) $ (0.5) $ 270.5expenses

Same Store SG&A as 73.5 % 70.3 %% gross profit ^(1)

Nine Months Ended September 30, 2020

U.S. GAAP Out-of-period Non-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 $ 693.1 $ (10.6) $ 682.5

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

Nine Months Ended September 30, 2019

Catastrophic Dealership and Legal Non-GAAP U.S. GAAP events real estate matters adjusted transactions

SG&A expenses $ 809.5 $ (17.8) $ 4.4 $ (1.8) $ 794.3

SG&A as % gross 72.9 % 71.5 %profit ^(1)

Same Store SG&A $ 805.5 $ (17.8) $ 0.5 $ (1.8) $ 786.3expenses

Same Store SG&Aas % gross 73.0 % 71.3 %profit ^(1)

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

Group 1 Automotive, Inc.

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

(Unaudited)

(Dollars in millions)

Three Months Ended September 30, 2019

U.S. GAAP Dealership and real Non-GAAP estate transactions Adjusted

SG&A expenses $ 57.6 $ (0.5) $ 57.1

SG&A as % gross profit ^(1) 88.4 % 87.7 %

Same Store SG&A expenses $ 54.4 $ (0.2) $ 54.2

Same Store SG&A as % gross profit 86.5 % 86.2 %^(1)

Nine Months Ended September 30, 2020

U.S. GAAP Severance costs Non-GAAP 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 $ 127.3 $ (1.2) $ 126.1

Same Store SG&A as % gross profit 75.6 % 74.9 %^(1)

Nine Months Ended September 30, 2019

U.S. GAAP Dealership and real Non-GAAP estate transactions Adjusted

SG&A expenses $ 175.8 $ (0.5) $ 175.3

SG&A as % gross profit ^(1) 87.4 % 87.1 %

Same Store SG&A expenses $ 166.0 $ (0.2) $ 165.8

Same Store SG&A as % gross profit 86.0 % 85.9 %^(1)

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

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Brazil

(Unaudited)

(In millions)

Nine Months Ended September 30, 2020

U.S. Severance Non-GAAP GAAP 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 ^ 95.1 % 91.4 %(1)

Nine Months Ended September 30, 2019

Dealership and Non-GAAP U.S. GAAP real estate Legal matters adjusted transactions

SG&A expenses $ 35.0 $ 0.2 $ (0.2) $ 35.0

SG&A as % gross profit ^(1) 88.3 % 88.3 %

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

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SOURCE Group 1 Automotive, Inc.