PR Newswire | Jul 30, 2020 07:08AM EDT

07/30 06:07 CDT

Group 1 Automotive Announces Second Quarter 2020 Financial ResultsDelivers Strong Profitability Via Cost Control & Faster-Than-Expected Market Recovery HOUSTON, July 30, 2020

HOUSTON, July 30, 2020 /PRNewswire/ -- Group 1 Automotive, Inc.(NYSE: GPI), ("Group 1" or the "Company"), an international, Fortune 500 automotive retailer, today reported 2020 second quarter net income of $30.2 million, diluted earnings per common share of $1.63, adjusted net income (a non-GAAP measure) of $69.6 million, and adjusted diluted earnings per common share (a non-GAAP measure) of $3.77. The Company's 2020 second quarter total revenue was $2.1 billion.

Second quarter 2020 adjusted net income and diluted earnings per share excluded a net after-tax adjustment of $39.4 million, or $2.14 per share, primarily related to the following: non-cash asset impairments of $20.6 million, or $1.11 per share; out-of-period adjustment to accelerate stock-based compensation expense for retirement of eligible employees of $9.7 million, or $0.53 per share; loss on debt extinguishment of $8.1 million, or $0.44 per share; and U.K. severance costs of $1.0 million, or $0.05 per share. Second quarter 2019 adjusted net income and diluted earnings per share excluded approximately $3.5 million net after-tax adjustments, or $0.19 per common share. These adjustments consist primarily of $3.0 million related to catastrophic weather events, or $0.16 per common share; and non-cash asset impairments of $0.5 million, or $0.03 per common share. Reconciliations of non-GAAP financial measures are included in the attached financial tables. Certain disclosures may not compute due to rounding.

"Our ability to react quickly to uncertain, dramatically lower levels of business activity resulting from the pandemic was completely due to the hard work and commitment of our employees and I must sincerely thank them for that. Rapid and deep cost cuts, combined with a quicker-than-expected U.S. auto market recovery, enabled us to achieve very strong operating results in the second quarter," said Earl J. Hesterberg, Group 1's President and Chief Executive Officer. "Beginning in late March, we experienced sudden and dramatic shutdowns in all three of our markets. By early April, our U.S. sales and service business had dropped by 50% and we were completely closed in the U.K., except for a small volume of emergency service work. Due to this severe decline in customer traffic, we had no choice but to execute a comprehensive cost reduction plan across our entire company that touched all areas of the business. Our U.S. business recovered steadily in May and June led by our used vehicle and service businesses. We benefited greatly during this time period from the effectiveness of our online vehicle purchasing platform, Acceleride, as online shopping increased in popularity. As business improved, we began to call back some of our furloughed employees and have currently returned to approximately 70% of our Pre-COVID employment levels in both the U.S. and U.K. Our U.S. and U.K. businesses are operating at their highest efficiency levels ever and we expect this to carry forward."

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

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

* Total revenue decreased 29.1 percent (-28.4 percent), to $2.1 billion. * Total gross profit decreased 21.0 percent (-20.4 percent), to $358.8 million. * New vehicle revenues decreased 32.1 percent (-31.4 percent) on a 37.1 percent decrease in unit sales. * Retail used vehicle revenues decreased 23.6 percent (-22.9 percent) on 23.2 percent lower unit sales. * Parts and service gross profit decreased 26.5 percent (-25.9 percent) on revenue decrease of 25.4 percent (-24.7 percent). * Finance and Insurance (F&I) gross profit per retail unit (PRU) increased 9.1 percent (+9.6 percent), to $1,697. * Selling, General and Administrative (SG&A) expenses as a percent of gross profit decreased 850.0 basis points, to 66.1 percent. Adjusted SG&A as a percent of gross profit decreased 1,100 basis points, to 62.8 percent.

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

* United States:

The Company's U.S. operations accounted for 85.9 percent of total revenues and 90.4 percent of total gross profit. Total U.S. revenues decreased 19.6 percent, to $1.8 billion. Total gross profit decreased 13.9 percent, to $324.5 million. Same Store U.S. total gross profit decreased 15.1 percent, to $317.9 million.

* Same Store new vehicle revenue declined 24.2 percent, with units decreasing 28.5 percent. New vehicle gross profit increased 0.2 percent as gross profit per unit increased $725, a 40.1 percent increase, to $2,533 and more than offset lower volumes. * Same Store total used revenue declined 16 percent, with units decreasing 16.5 percent, as inventory shortages hampered sales later in the quarter. Same Store total used gross profit declined 5.4 percent as higher gross profit per unit (used retail gross profit per unit increased $129 to $1,557) partially offset the volume decline. * Parts and service revenues decreased 17.9 percent and gross profit decreased by 18.9 percent. Same Store parts and service revenues decreased 19.0 percent. Same Store parts and service gross profits decreased 20.0 percent, to $133.0 million. * F&I revenues decreased 18.8 percent, to $89.8 million. F&I gross profit PRU grew $50, to $1,868, or 2.7 percent. Same Store F&I gross profit PRU increased $58, to $1,882, or 3.2 percent. * SG&A expenses as a percent of gross profit decreased 850 basis points, to 62.6 percent. Adjusted SG&A expenses as a percent of gross profit decreased 1,070 basis points, to 59.4 percent.

"The rapid action by our dealership operating teams to significantly cut costs in late March and the strong new and used vehicle margins in late May and June, helped deliver an exceptional quarter for our U.S. operations. Highlights include adjusted Same Store SG&A as a percentage of gross profit, which came in at an all-time low of 59.4% and delivering flat Same store new vehicle gross profit in an environment where the new vehicle industry declined 34%. Our aftersales business improved throughout the quarter. In June, our customer pay service gross profit was up versus previous year. Additionally, our U.S. omni-channel platform AcceleRide(r) was instrumental in allowing us to connect with and serve our customers from the comfort of their remote locations. Second quarter AcceleRide(r) leads were up 203 percent and AcceleRide(r) sales were up 190 percent from a year ago and we averaged close to 1,000 retail unit sales per month via this channel. Also, our online service scheduling penetration had strong growth from 25 percent to over 30 percent. Our omni-channel initiatives are allowing us to do business with our customers how and when they choose, and will allow us to stay at the technological forefront as consumer preferences continue to shift more towards online automotive retail," said Daryl Kenningham, Group 1's President of U.S. and Brazilian Operations.

* United Kingdom:

The Company's U.K. operations accounted for 12.4 percent of total revenues and 8.2 percent of total gross profit as stringent lockdown orders in the U.K. halted service operations for six weeks and dealership sales for two months. On as constant currency basis, Same Store total revenues decreased -57.9 percent, to $242.4 million. Same Store total gross profit decreased 54.7 percent, to $27.1 million. Same Store SG&A expenses as a percent of gross profit increased 90 basis points, to 91.5 percent. Adjusted Same Store SG&A expenses as a percent of gross profit decreased 360 basis points, to 87.0 percent.

Hesterberg added, "Our U.K. businesses were almost completely shut down from late March until May 18th when our workshops were permitted to reopen. Our showrooms were closed for more than two months and did not open until June 1st. This made it impossible to generate a profit in either April or May in the U.K. However, our decisive cost reduction actions minimized the financial damage in the first two months of the quarter and brought us back to a reasonable level of profit in June as the market snapped back. Our momentum continued into July and I believe our U.K. business is in the strongest position we have seen in several years."

* Brazil:

The Company's Brazilian operations accounted for 1.7 percent of total revenues and 1.4 percent of total gross profit. On a constant currency basis, Same Store total revenues decreased 53.9 percent, driven by constant currency revenue decreases of 63.0 percent in new vehicles, 55.0 percent in F&I, 35.4 percent in total used vehicles, and 32.0 percent in parts and service as various local shelter-in-place orders completely closed our operations for over a month on average in the quarter combined with restrictions on operating hours that continue in force. Same Store SG&A expenses as a percent of gross profit increased 2,390 basis points, to 114.0 percent. Although the market was unprofitable for the quarter, aggressive cost reduction actions and a slowly rebounding market allowed the operation to generate a small profit in June.

"The challenges we faced in the second quarter required our operating team to be responsive and resourceful. We have proven that we can react to rapidly changing conditions in all of our markets. In addition to dealing with the disruptions to the U.S. market, our U.S. team was strong enough to offset the losses generated by a more stringent shutdown in the U.K. and parts of Brazil. Both our U.K. and U.S. teams have taken actions that will put us in an even more competitive position in the future," commented Hesterberg.

Second 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 second 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: 1-888-317-6003 International: 1-412-317-6061 Conference ID: 3487938

A telephonic replay will be available following the call through May 12, 2020 by dialing:

Domestic: 1-877-344-7529 International: 1-412-317-0088 Replay ID: 10146303

ABOUT GROUP 1 AUTOMOTIVE, INC. Group 1 owns and operates 186 automotive dealerships, 242 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 often include statements regarding our strategic investments, goals, plans, projections and guidance regarding our financial position, results of operations, 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) our ability to retain key personnel, (j) the impacts of COVID-19 on our business, (k) the impacts of any potential global recession and (l) 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 disclosures are reported as zero balances or may not compute due to rounding.

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 June 30,

2020 2019 Increase/ % Change (Decrease)

REVENUES:

New vehicle retail sales $ 1,062.7 $ 1,565.4 $ (502.7) (32.1) %

Used vehicle retail sales 641.2 838.9 (197.7) (23.6) %

Used vehicle wholesale sales 48.7 96.0 (47.3) (49.3) %

Parts and service sales 282.0 378.2 (96.2) (25.4) %

Finance, insurance and other, 96.7 127.3 (30.5) (24.0) %net

Total revenues 2,131.2 3,005.7 (874.5) (29.1) %

COST OF SALES:

New vehicle retail sales 998.9 1,495.7 (496.8) (33.2) %

Used vehicle retail sales 594.9 785.6 (190.7) (24.3) %

Used vehicle wholesale sales 46.6 96.1 (49.5) (51.5) %

Parts and service sales 132.0 174.1 (42.1) (24.2) %

Total cost of sales 1,772.4 2,551.4 (779.0) (30.5) %

GROSS PROFIT 358.8 454.3 (95.4) (21.0) %

Selling, general and 237.2 338.7 (101.5) (30.0) %administrative expenses

Depreciation and amortization 18.8 17.9 0.9 5.0 %expense

Asset impairments 23.8 0.5 23.3 4,336.2 %

INCOME (LOSS) FROM OPERATIONS 79.0 97.1 (18.1) (18.6) %

Floorplan interest expense 10.1 15.9 (5.8) (36.4) %

Other interest expense, net 16.2 18.0 (1.8) (9.8) %

(Gain) loss on extinguishment 10.4 - 10.4 - %of debt

INCOME (LOSS) BEFORE INCOME 42.3 63.2 (20.9) (33.1) %TAXES

(Benefit) provision for 12.2 14.0 (1.8) (13.2) %income taxes

NET INCOME (LOSS) $ 30.2 $ 49.2 $ (19.1) (38.7) %

Less: Earnings (loss)allocated to participating 1.1 1.8 (0.8) (40.9) %securities

Net income (loss) available $ 29.1 $ 47.4 $ (18.3) (38.6) %to diluted common shares

DILUTED EARNINGS (LOSS) PER $ 1.63 $ 2.64 $ (1.01) (38.2) %SHARE

Weighted average dilutive 17.8 17.9 (0.1) (0.7) %common shares outstanding

Weighted average 0.7 0.7 - (5.0) %participating securities

Total weighted average shares 18.5 18.6 (0.2) (0.8) %

Effective tax rate 28.7 % 22.2 % 6.6 %

Group 1 Automotive, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In millions, except per share data)

Six Months Ended June 30,

2020 2019 Increase/ % Change (Decrease)

REVENUES:

New vehicle retail sales $ 2,404.8 $ 2,979.9 $ (575.0) (19.3) %

Used vehicle retail sales 1,420.3 1,658.1 (237.8) (14.3) %

Used vehicle wholesale sales 135.2 188.1 (53.0) (28.2) %

Parts and service sales 652.6 747.3 (94.8) (12.7) %

Finance, insurance and other, 209.2 240.6 (31.5) (13.1) %net

Total revenues 4,822.0 5,814.1 (992.1) (17.1) %

COST OF SALES:

New vehicle retail sales 2,278.3 2,838.8 (560.5) (19.7) %

Used vehicle retail sales 1,331.8 1,557.0 (225.2) (14.5) %

Used vehicle wholesale sales 132.1 187.8 (55.6) (29.6) %

Parts and service sales 304.5 344.8 (40.2) (11.7) %

Total cost of sales 4,046.7 4,928.3 (881.6) (17.9) %

GROSS PROFIT 775.3 885.8 (110.5) (12.5) %

Selling, general and 565.1 666.4 (101.3) (15.2) %administrative expenses

Depreciation and amortization 37.4 34.9 2.5 7.2 %expense

Asset impairments 23.8 0.5 23.3 4,336.2 %

INCOME (LOSS) FROM OPERATIONS 148.9 183.9 (35.0) (19.0) %

Floorplan interest expense 23.0 31.6 (8.7) (27.3) %

Other interest expense, net 34.3 36.9 (2.5) (6.9) %

(Gain) loss on extinguishment 10.4 - 10.4 - %of debt

INCOME (LOSS) BEFORE INCOME 81.2 115.4 (34.2) (29.6) %TAXES

(Benefit) provision for 21.3 27.5 (6.3) (22.7) %income taxes

NET INCOME (LOSS) $ 60.0 $ 87.9 $ (27.9) (31.8) %

Less: Earnings (loss)allocated to participating 2.1 3.3 (1.2) (34.9) %securities

Net income (loss) available $ 57.8 $ 84.6 $ (26.8) (31.7) %to diluted common shares

DILUTED EARNINGS (LOSS) PER $ 3.25 $ 4.73 $ (1.49) (31.4) %SHARE

Weighted average dilutive 17.8 17.9 (0.1) (0.4) %common shares outstanding

Weighted average 0.7 0.7 - (4.7) %participating securities

Total weighted average shares 18.5 18.6 (0.1) (0.5) %

Effective tax rate 26.2 % 23.9 % 2.3 %

Group 1 Automotive, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In millions)

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

ASSETS

CURRENT ASSETS:

Cash and cash $ 72.7 $ 23.8 $ 48.9 206.0 %equivalents

Contracts-in-transitand vehiclereceivables, net of 173.3 253.8 (80.5) (31.7) %allowance of $0.4 and$0.3, respectively

Accounts and notesreceivable, net of 152.5 225.1 (72.6) (32.2) %allowance of $3.5 and$2.8, respectively

Inventories, net 1,327.1 1,901.7 (574.7) (30.2) %

Prepaid expenses 88.0 96.4 (8.4) (8.7) %

Other current assets 21.1 15.5 5.6 36.0 %

TOTAL CURRENT ASSETS 1,834.6 2,516.3 (681.7) (27.1) %

Property andequipment, net ofaccumulated 1,548.9 1,547.1 1.8 0.1 %depreciation of $421.6and $400.2,respectively

Operating lease assets 219.1 220.1 (1.0) (0.5) %

Goodwill 989.7 1,008.3 (18.6) (1.8) %

Intangible franchise 240.5 253.5 (13.0) (5.1) %rights

Other long-term assets 26.7 24.8 1.9 7.5 %

TOTAL ASSETS $ 4,859.6 $ 5,570.2 $ (710.6) (12.8) %

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

Floorplan notespayable - creditfacility and other, $ 696.6 $ 1,144.4 $ (447.8) (39.1) %net of offset accountof $99.7 and $106.8,respectively

Floorplan notespayable - manufactureraffiliates, net of 357.7 459.9 (102.1) (22.2) %offset account of $8.1and $4.1, respectively

Current maturities of 54.6 59.1 (4.6) (7.7) %long-term debt

Current operating 23.6 24.6 (1.0) (4.2) %lease liabilities

Accounts payable 442.7 527.5 (84.8) (16.1) %

Accrued expenses andother current 199.9 206.7 (6.8) (3.3) %liabilities

TOTAL CURRENT 1,775.1 2,422.3 (647.2) (26.7) %LIABILITIES

Long-term debt 1,360.7 1,432.1 (71.4) (5.0) %

Long-term operating 214.2 210.7 3.5 1.7 %lease liabilities

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

Long-term interest 49.3 4.4 44.9 1,021.3 %rate swap liabilities

Other long-term 109.0 99.2 9.7 9.8 %liabilities

STOCKHOLDERS' EQUITY:

Common stock 0.3 0.3 - (0.2) %

Additional paid-in 300.0 295.3 4.7 1.6 %capital

Retained earnings 1,596.9 1,542.4 54.4 3.5 %

Accumulated othercomprehensive income (213.3) (147.0) (66.4) 45.2 %(loss)

Treasury stock (467.9) (435.3) (32.6) 7.5 %

TOTAL STOCKHOLDERS' 1,215.9 1,255.7 (39.8) (3.2) %EQUITY

TOTAL LIABILITIES AND $ 4,859.6 $ 5,570.2 $ (710.6) (12.8) %STOCKHOLDERS' EQUITY

Group 1 Automotive, Inc.

Additional Information - Consolidated

(Unaudited)

Three Months Ended June 30, Six Months Ended June 30,

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

New vehicle unit salesgeographic mix

Region Geographic Market

United States Texas 42.4 36.1 38.1 35.2

Oklahoma 9.0 6.8 7.7 6.5

California 5.1 5.8 4.9 5.6

Georgia 5.0 4.6 4.7 4.4

Massachusetts 4.3 4.7 4.3 4.5

Florida 3.0 2.5 2.8 2.6

Louisiana 2.6 2.7 2.3 2.5

New Hampshire 2.2 1.8 1.9 1.7

New Jersey 1.9 1.7 1.8 1.8

South 1.9 1.7 1.8 1.7 Carolina

New Mexico 1.6 0.2 1.3 0.2

Kansas 1.2 1.1 1.1 1.1

Mississippi 1.3 1.2 1.1 1.2

Alabama 0.8 0.7 0.7 0.7

Maryland 0.4 0.5 0.4 0.5

82.9 72.0 75.1 70.0

International United 14.5 22.0 20.6 24.3 Kingdom

Brazil 2.6 6.0 4.3 5.7

100.0 100.0 100.0 100.0

New vehicle unit sales brandmix

Toyota/Lexus 22.8 24.9 23.1 24.0

Volkswagen/Audi/Porsche/ 11.7 13.4 14.2 14.2SEAT/SKODA

BMW/MINI 10.5 11.9 11.2 12.2

Ford/Lincoln 12.3 10.6 11.1 10.6

Honda/Acura 9.9 10.6 9.6 10.7

Chevrolet/GMC/Buick/ 8.7 6.7 7.6 6.5Cadillac

Nissan 5.9 6.3 5.6 6.1

Mercedes-Benz/Smart/ 5.3 5.1 5.3 5.3Sprinter

Hyundai/Kia/Genesis 4.8 3.9 4.4 3.7

Chrysler/Dodge/Jeep/RAM 4.9 3.3 4.1 3.2

Jaguar/Land Rover 1.7 1.7 2.2 2.1

Other 1.6 1.7 1.7 1.4

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 June 30,

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

Revenues:

Newvehicle $ 1,062.7 $ 1,565.4 $ (502.7) (32.1) % $ (11.0) (31.4) %retailsales

Usedvehicle 641.2 838.9 (197.7) (23.6) % (5.6) (22.9) %retailsales

Usedvehicle 48.7 96.0 (47.3) (49.3) % (1.6) (47.7) %wholesalesales

Total used 689.9 934.9 (245.0) (26.2) % (7.2) (25.4) %

Parts andservice 282.0 378.2 (96.2) (25.4) % (2.9) (24.7) %sales

F&I, net 96.7 127.3 (30.5) (24.0) % (0.4) (23.7) %

Total $ 2,131.2 $ 3,005.7 $ (874.5) (29.1) % $ (21.4) (28.4) %revenues

Grossprofit:

Newvehicle $ 63.8 $ 69.7 $ (5.9) (8.5) % $ (0.7) (7.6) %retailsales

Usedvehicle 46.3 53.3 (7.0) (13.2) % (0.3) (12.6) %retailsales

Usedvehicle 2.0 (0.1) 2.1 2,271.7 % - 2,312.8 %wholesalesales

Total used 48.3 53.2 (4.9) (9.2) % (0.4) (8.5) %

Parts andservice 150.0 204.1 (54.1) (26.5) % (1.3) (25.9) %sales

F&I, net 96.7 127.3 (30.5) (24.0) % (0.4) (23.7) %

Totalgross $ 358.8 $ 454.3 $ (95.4) (21.0) % $ (2.7) (20.4) %profit

Grossmargin:

Newvehicle 6.0 % 4.5 % 1.5 %retailsales

Usedvehicle 7.2 % 6.4 % 0.9 %retailsales

Usedvehicle 4.2 % (0.1) % 4.3 %wholesalesales

Total used 7.0 % 5.7 % 1.3 %

Parts andservice 53.2 % 54.0 % (0.8) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 16.8 % 15.1 % 1.7 %margin

Unitssold:

Retail newvehicles 26,472 42,093 (15,621) (37.1) %sold

Retailused 30,528 39,745 (9,217) (23.2) %vehiclessold

Wholesaleused 7,303 13,084 (5,781) (44.2) %vehiclessold

Total used 37,831 52,829 (14,998) (28.4) %

Averagesalesprice perunit sold:

Newvehicle $ 40,143 $ 37,189 $ 2,955 7.9 % $ (414) 9.1 %retail

Usedvehicle $ 21,004 $ 21,107 $ (103) (0.5) % $ (184) 0.4 %retail

Grossprofit perunit sold:

Newvehicle $ 2,409 $ 1,656 $ 753 45.5 % $ (25) 47.0 %retailsales

Usedvehicle $ 1,516 $ 1,341 $ 175 13.1 % $ (10) 13.8 %retailsales

Usedvehicle $ 278 $ (7) $ 285 3,990.7 % $ (5) 4,064.4 %wholesalesales

Total used $ 1,277 $ 1,007 $ 270 26.8 % $ (9) 27.7 %

F&I PRU $ 1,697 $ 1,555 $ 142 9.1 % $ (7) 9.6 %

Other:

SG&A $ 237.2 $ 338.7 $ (101.5) (30.0) % $ (3.0) (29.1) %expenses

AdjustedSG&A $ 225.4 $ 335.3 $ (109.9) (32.8) % $ (3.0) (31.9) %expenses ^(1)

SG&A as %gross 66.1 % 74.6 % (8.5) %profit

AdjustedSG&A as %gross 62.8 % 73.8 % (11.0) %profit ^(1)

Operating 3.7 % 3.2 % 0.5 %margin %

Adjustedoperating 5.4 % 3.4 % 2.0 %margin % ^(1)

Pretax 2.0 % 2.1 % (0.1) %margin %

Adjustedpretax 4.1 % 2.2 % 1.9 %margin % ^(1)

Floorplanexpense:

Floorplaninterest $ 10.1 $ 15.9 $ (5.8) (36.4) % $ (0.1) (35.5) %expense

Less:Floorplan 9.8 11.8 (2.0) (16.9) % - (16.9) %assistance^ (2)

Netfloorplan $ 0.3 $ 4.1 $ (3.8) (92.3) % $ (0.1) (88.8) %expense



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

Six Months Ended June 30,

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

Revenues:

Newvehicle $ 2,404.8 $ 2,979.9 $ (575.0) (19.3) % $ (27.7) (18.4) %retailsales

Usedvehicle 1,420.3 1,658.1 (237.8) (14.3) % (10.5) (13.7) %retailsales

Usedvehicle 135.2 188.1 (53.0) (28.2) % (2.5) (26.8) %wholesalesales

Total used 1,555.4 1,846.2 (290.8) (15.8) % (13.0) (15.0) %

Parts andservice 652.6 747.3 (94.8) (12.7) % (5.0) (12.0) %sales

F&I, net 209.2 240.6 (31.5) (13.1) % (0.9) (12.7) %

Total $ 4,822.0 $ 5,814.1 $ (992.1) (17.1) % $ (46.6) (16.3) %revenues

Grossprofit:

Newvehicle $ 126.6 $ 141.1 $ (14.5) (10.3) % $ (1.7) (9.1) %retailsales

Usedvehicle 88.4 101.1 (12.7) (12.5) % (0.6) (11.9) %retailsales

Usedvehicle 3.0 0.4 2.7 747.0 % (0.1) 766.1 %wholesalesales

Total used 91.5 101.5 (10.0) (9.9) % (0.7) (9.2) %

Parts andservice 348.0 402.6 (54.5) (13.5) % (2.3) (13.0) %sales

F&I, net 209.2 240.6 (31.5) (13.1) % (0.9) (12.7) %

Totalgross $ 775.3 $ 885.8 $ (110.5) (12.5) % $ (5.6) (11.8) %profit

Grossmargin:

Newvehicle 5.3 % 4.7 % 0.5 %retailsales

Usedvehicle 6.2 % 6.1 % 0.1 %retailsales

Usedvehicle 2.2 % 0.2 % 2.1 %wholesalesales

Total used 5.9 % 5.5 % 0.4 %

Parts andservice 53.3 % 53.9 % (0.5) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 16.1 % 15.2 % 0.8 %margin

Unitssold:

Retail newvehicles 61,832 80,967 (19,135) (23.6) %sold

Retailused 67,318 78,581 (11,263) (14.3) %vehiclessold

Wholesaleused 19,389 26,073 (6,684) (25.6) %vehiclessold

Total used 86,707 104,654 (17,947) (17.1) %

Averagesalesprice perunit sold:

Newvehicle $ 38,893 $ 36,803 $ 2,090 5.7 % $ (449) 6.9 %retail

Usedvehicle $ 21,098 $ 21,101 $ (3) - % $ (156) 0.7 %retail

Grossprofit perunit sold:

Newvehicle $ 2,047 $ 1,743 $ 305 17.5 % $ (27) 19.1 %retailsales

Usedvehicle $ 1,314 $ 1,287 $ 27 2.1 % $ (9) 2.8 %retailsales

Usedvehicle $ 156 $ 14 $ 143 1,039.0 % $ (4) 1,064.6 %wholesalesales

Total used $ 1,055 $ 969 $ 85 8.8 % $ (8) 9.6 %

F&I PRU $ 1,620 $ 1,508 $ 111 7.4 % $ (7) 7.9 %

Other:

SG&A $ 565.1 $ 666.4 $ (101.3) (15.2) % $ (5.7) (14.3) %expenses

AdjustedSG&A $ 552.5 $ 663.8 $ (111.3) (16.8) % $ (5.4) (16.0) %expenses ^(1)

SG&A as %gross 72.9 % 75.2 % (2.3) %profit

AdjustedSG&A as %gross 71.3 % 74.9 % (3.7) %profit ^(1)

Operating 3.1 % 3.2 % (0.1) %margin %

Adjustedoperating 3.8 % 3.2 % 0.6 %margin % ^(1)

Pretax 1.7 % 2.0 % (0.3) %margin %

Adjustedpretax 2.7 % 2.0 % 0.6 %margin % ^(1)

Floorplanexpense:

Floorplaninterest $ 23.0 $ 31.6 $ (8.7) (27.3) % $ (0.2) (26.7) %expense

Less:Floorplan 20.4 22.3 (1.9) (8.6) % - (8.6) %assistance^(2)

Netfloorplan $ 2.6 $ 9.4 $ (6.7) (72.0) % $ (0.2) (70.0) %expense



^ See the section in this release titled "Reconciliation of Certain (1)Non-GAAP 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 June 30,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $ 915.7 $ 1,188.8 $ (273.1) (23.0) %

Used vehicle retail sales 540.9 625.5 (84.5) (13.5) %

Used vehicle wholesale sales 30.5 44.3 (13.8) (31.1) %

Total used 571.4 669.7 (98.3) (14.7) %

Parts and service sales 254.2 309.6 (55.4) (17.9) %

F&I, net 89.8 110.5 (20.7) (18.8) %

Total revenues $ 1,831.1 $ 2,278.7 $ (447.6) (19.6) %

Gross profit:

New vehicle retail sales $ 56.5 $ 54.8 $ 1.8 3.2 %

Used vehicle retail sales 41.0 43.3 (2.4) (5.5) %

Used vehicle wholesale sales 1.6 0.9 0.7 73.8 %

Total used 42.6 44.2 (1.7) (3.8) %

Parts and service sales 135.6 167.2 (31.6) (18.9) %

F&I, net 89.8 110.5 (20.7) (18.8) %

Total gross profit $ 324.5 $ 376.7 $ (52.2) (13.9) %

Gross margin:

New vehicle retail sales 6.2 % 4.6 % 1.6 %

Used vehicle retail sales 7.6 % 6.9 % 0.6 %

Used vehicle wholesale sales 5.2 % 2.1 % 3.2 %

Total used 7.4 % 6.6 % 0.8 %

Parts and service sales 53.3 % 54.0 % (0.7) %

F&I, net 100.0 % 100.0 % - %

Total gross margin 17.7 % 16.5 % 1.2 %

Units sold:

Retail new vehicles sold 21,937 30,318 (8,381) (27.6) %

Retail used vehicles sold 26,132 30,477 (4,345) (14.3) %

Wholesale used vehicles sold 5,150 6,828 (1,678) (24.6) %

Total used 31,282 37,305 (6,023) (16.1) %

Average sales price per unitsold:

New vehicle retail $ 41,742 $ 39,211 $ 2,531 6.5 %

Used vehicle retail $ 20,699 $ 20,522 $ 177 0.9 %

Gross profit per unit sold:

New vehicle retail sales $ 2,576 $ 1,806 $ 771 42.7 %

Used vehicle retail sales $ 1,568 $ 1,422 $ 146 10.3 %

Used vehicle wholesale sales $ 311 $ 135 $ 176 130.4 %

Total used $ 1,361 $ 1,186 $ 175 14.7 %

F&I PRU $ 1,868 $ 1,818 $ 50 2.7 %

Other:

SG&A expenses $ 203.3 $ 268.1 $ (64.8) (24.2) %

Adjusted SG&A expenses ^(1) $ 192.7 $ 264.1 $ (71.4) (27.0) %

SG&A as % gross profit 62.6 % 71.2 % (8.5) %

Adjusted SG&A as % gross 59.4 % 70.1 % (10.7) %profit ^(1)



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

Six Months Ended June 30,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $ 1,904.1 $ 2,220.5 $ (316.5) (14.3) %

Used vehicle retail sales 1,111.2 1,219.9 (108.6) (8.9) %

Used vehicle wholesale sales 77.3 87.1 (9.8) (11.2) %

Total used 1,188.6 1,307.0 (118.4) (9.1) %

Parts and service sales 558.9 607.2 (48.4) (8.0) %

F&I, net 187.2 206.7 (19.5) (9.4) %

Total revenues $ 3,838.7 $ 4,341.5 $ (502.8) (11.6) %

Gross profit:

New vehicle retail sales $ 103.8 $ 105.6 $ (1.8) (1.7) %

Used vehicle retail sales 72.9 81.6 (8.7) (10.7) %

Used vehicle wholesale sales 2.4 2.1 0.3 16.4 %

Total used 75.3 83.7 (8.4) (10.0) %

Parts and service sales 299.1 327.7 (28.6) (8.7) %

F&I, net 187.2 206.7 (19.5) (9.4) %

Total gross profit $ 665.4 $ 723.6 $ (58.2) (8.0) %

Gross margin:

New vehicle retail sales 5.5 % 4.8 % 0.7 %

Used vehicle retail sales 6.6 % 6.7 % (0.1) %

Used vehicle wholesale sales 3.1 % 2.4 % 0.7 %

Total used 6.3 % 6.4 % (0.1) %

Parts and service sales 53.5 % 54.0 % (0.4) %

F&I, net 100.0 % 100.0 % - %

Total gross margin 17.3 % 16.7 % 0.7 %

Units sold:

Retail new vehicles sold 46,432 56,708 (10,276) (18.1) %

Retail used vehicles sold 53,800 59,794 (5,994) (10.0) %

Wholesale used vehicles sold 12,177 13,978 (1,801) (12.9) %

Total used 65,977 73,772 (7,795) (10.6) %

Average sales price per unitsold:

New vehicle retail $ 41,008 $ 39,157 $ 1,850 4.7 %

Used vehicle retail $ 20,655 $ 20,401 $ 254 1.2 %

Gross profit per unit sold:

New vehicle retail sales $ 2,235 $ 1,861 $ 374 20.1 %

Used vehicle retail sales $ 1,355 $ 1,365 $ (10) (0.7) %

Used vehicle wholesale sales $ 199 $ 149 $ 50 33.6 %

Total used $ 1,142 $ 1,135 $ 7 0.6 %

F&I PRU $ 1,868 $ 1,774 $ 93 5.3 %

Other:

SG&A expenses $ 460.8 $ 524.2 $ (63.5) (12.1) %

Adjusted SG&A expenses ^(1) $ 450.2 $ 521.7 $ (71.4) (13.7) %

SG&A as % gross profit 69.2 % 72.4 % (3.2) %

Adjusted SG&A as % gross 67.7 % 72.1 % (4.4) %profit ^(1)



^ See the section in this release titled "Reconciliation of Certain (1)Non-GAAP 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 June 30,

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

Revenues:

Newvehicle $ 127.2 $ 302.2 $ (175.0) (57.9) % $ (3.9) (56.6) %retailsales

Usedvehicle 92.8 194.0 (101.2) (52.2) % (3.0) (50.6) %retailsales

Usedvehicle 15.3 46.9 (31.6) (67.5) % (0.5) (66.4) %wholesalesales

Total used 108.1 240.9 (132.8) (55.1) % (3.5) (53.7) %

Parts andservice 21.8 56.4 (34.5) (61.3) % (0.7) (60.0) %sales

F&I, net 6.4 15.0 (8.6) (57.4) % (0.2) (56.2) %

Total $ 263.5 $ 614.4 $ (350.9) (57.1) % $ (8.3) (55.8) %revenues

Grossprofit:

Newvehicle $ 5.9 $ 10.6 $ (4.8) (44.8) % $ (0.2) (43.2) %retailsales

Usedvehicle 4.9 8.3 (3.4) (41.1) % (0.2) (39.1) %retailsales

Usedvehicle 0.4 (1.3) 1.6 127.3 % - 128.0 %wholesalesales

Total used 5.2 7.0 (1.8) (25.2) % (0.2) (22.8) %

Parts andservice 11.9 31.5 (19.5) (62.1) % (0.4) (60.9) %sales

F&I, net 6.4 15.0 (8.6) (57.4) % (0.2) (56.2) %

Totalgross $ 29.4 $ 64.1 $ (34.7) (54.1) % $ (0.9) (52.7) %profit

Grossmargin:

Newvehicle 4.6 % 3.5 % 1.1 %retailsales

Usedvehicle 5.3 % 4.3 % 1.0 %retailsales

Usedvehicle 2.3 % (2.7) % 5.0 %wholesalesales

Total used 4.8 % 2.9 % 1.9 %

Parts andservice 54.7 % 55.9 % (1.2) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 11.2 % 10.4 % 0.7 %margin

Unitssold:

Retail newvehicles 3,841 9,266 (5,425) (58.5) %sold

Retailused 4,040 8,280 (4,240) (51.2) %vehiclessold

Wholesaleused 1,829 5,772 (3,943) (68.3) %vehiclessold

Total used 5,869 14,052 (8,183) (58.2) %

Averagesalesprice perunit sold:

Newvehicle $ 33,119 $ 32,617 $ 502 1.5 % $ (1,012) 4.6 %retail

Usedvehicle $ 22,978 $ 23,431 $ (453) (1.9) % $ (740) 1.2 %retail

Grossprofit perunit sold:

Newvehicle $ 1,527 $ 1,147 $ 380 33.2 % $ (45) 37.1 %retailsales

Usedvehicle $ 1,209 $ 1,001 $ 208 20.8 % $ (40) 24.8 %retailsales

Usedvehicle $ 192 $ (223) $ 415 186.1 % $ (5) 188.2 %wholesalesales

Total used $ 892 $ 498 $ 394 79.1 % $ (29) 84.9 %

F&I PRU $ 808 $ 853 $ (45) (5.2) % $ (23) (2.6) %

Other:

SG&A $ 28.3 $ 59.0 $ (30.7) (52.1) % $ (1.0) (50.4) %expenses

AdjustedSG&A $ 27.1 $ 59.0 $ (31.9) (54.1) % $ (0.9) (52.5) %expenses ^(1)

SG&A as %gross 96.2 % 92.1 % 4.1 %profit

AdjustedSG&A as %gross 92.1 % 92.1 % (0.1) %profit ^(1)



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

Six Months Ended June 30,

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

Revenues:

Newvehicle $ 423.5 $ 620.8 $ (197.3) (31.8) % $ (11.5) (29.9) %retailsales

Usedvehicle 281.6 397.6 (115.9) (29.2) % (4.7) (28.0) %retailsales

Usedvehicle 51.1 92.1 (41.1) (44.6) % (0.8) (43.7) %wholesalesales

Total used 332.7 489.7 (157.0) (32.1) % (5.5) (30.9) %

Parts andservice 78.3 115.9 (37.7) (32.5) % (1.3) (31.4) %sales

F&I, net 19.7 30.2 (10.5) (34.7) % (0.4) (33.3) %

Total $ 854.2 $ 1,256.6 $ (402.4) (32.0) % $ (18.7) (30.5) %revenues

Grossprofit:

Newvehicle $ 17.9 $ 27.4 $ (9.5) (34.6) % $ (0.6) (32.3) %retailsales

Usedvehicle 14.0 16.6 (2.5) (15.3) % (0.3) (13.6) %retailsales

Usedvehicle 0.3 (2.3) 2.6 113.9 % - 114.1 %wholesalesales

Total used 14.4 14.3 0.1 0.6 % (0.3) 2.5 %

Parts andservice 42.3 64.2 (22.0) (34.2) % (0.7) (33.1) %sales

F&I, net 19.7 30.2 (10.5) (34.7) % (0.4) (33.3) %

Totalgross $ 94.2 $ 136.1 $ (41.8) (30.7) % $ (2.1) (29.2) %profit

Grossmargin:

Newvehicle 4.2 % 4.4 % (0.2) %retailsales

Usedvehicle 5.0 % 4.2 % 0.8 %retailsales

Usedvehicle 0.6 % (2.5) % 3.1 %wholesalesales

Total used 4.3 % 2.9 % 1.4 %

Parts andservice 54.0 % 55.4 % (1.4) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 11.0 % 10.8 % 0.2 %margin

Unitssold:

Retail newvehicles 12,735 19,610 (6,875) (35.1) %sold

Retailused 12,064 16,711 (4,647) (27.8) %vehiclessold

Wholesaleused 6,413 11,139 (4,726) (42.4) %vehiclessold

Total used 18,477 27,850 (9,373) (33.7) %

Averagesalesprice perunit sold:

Newvehicle $ 33,255 $ 31,657 $ 1,598 5.0 % $ (900) 7.9 %retail

Usedvehicle $ 23,344 $ 23,791 $ (447) (1.9) % $ (388) (0.2) %retail

Grossprofit perunit sold:

Newvehicle $ 1,407 $ 1,397 $ 10 0.7 % $ (50) 4.3 %retailsales

Usedvehicle $ 1,164 $ 992 $ 172 17.4 % $ (23) 19.6 %retailsales

Usedvehicle $ 50 $ (206) $ 256 124.2 % $ (1) 124.4 %wholesalesales

Total used $ 777 $ 513 $ 265 51.6 % $ (15) 54.5 %

F&I PRU $ 794 $ 830 $ (37) (4.4) % $ (18) (2.3) %

Other:

SG&A $ 88.2 $ 118.2 $ (30.1) (25.4) % $ (1.8) (23.9) %expenses

AdjustedSG&A $ 86.9 $ 118.2 $ (31.3) (26.5) % $ (1.7) (25.0) %expenses ^(1)

SG&A as %gross 93.5 % 86.9 % 6.6 %profit

AdjustedSG&A as %gross 92.2 % 86.9 % 5.4 %profit ^(1)



^ See the section in this release titled "Reconciliation of Certain (1)Non-GAAP 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 June 30,

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

Revenues:

Newvehicle $ 19.8 $ 74.4 $ (54.6) (73.4) % $ (7.1) (63.9) %retailsales

Usedvehicle 7.5 19.4 (12.0) (61.6) % (2.6) (48.0) %retailsales

Usedvehicle 2.9 4.8 (2.0) (40.5) % (1.1) (18.5) %wholesalesales

Total 10.3 24.3 (13.9) (57.4) % (3.7) (42.1) %used

Parts andservice 5.9 12.2 (6.3) (51.5) % (2.2) (33.7) %sales

F&I, net 0.6 1.8 (1.2) (67.7) % (0.2) (56.0) %

Total $ 36.6 $ 112.6 $ (76.0) (67.5) % $ (13.2) (55.8) %revenues

Grossprofit:

Newvehicle $ 1.4 $ 4.3 $ (2.9) (67.9) % $ (0.5) (56.6) %retailsales

Usedvehicle 0.4 1.7 (1.2) (74.2) % (0.1) (65.3) %retailsales

Usedvehicle 0.1 0.3 (0.2) (70.7) % - (59.8) %wholesalesales

Total 0.5 1.9 (1.4) (73.7) % (0.2) (64.5) %used

Parts andservice 2.5 5.4 (2.9) (54.5) % (0.9) (37.8) %sales

F&I, net 0.6 1.8 (1.2) (67.7) % (0.2) (56.0) %

Totalgross $ 4.9 $ 13.5 $ (8.5) (63.3) % $ (1.8) (50.1) %profit

Grossmargin:

Newvehicle 7.0 % 5.8 % 1.2 %retailsales

Usedvehicle 5.8 % 8.6 % (2.8) %retailsales

Usedvehicle 2.8 % 5.7 % (2.9) %wholesalesales

Total 4.9 % 8.0 % (3.1) %used

Parts andservice 41.8 % 44.5 % (2.7) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 13.5 % 12.0 % 1.5 %margin

Unitssold:

Retailnew 694 2,509 (1,815) (72.3) %vehiclessold

Retailused 356 988 (632) (64.0) %vehiclessold

Wholesaleused 324 484 (160) (33.1) %vehiclessold

Total 680 1,472 (792) (53.8) %used

Averagesalesprice perunitsold:

Newvehicle $ 28,495 $ 29,637 $ (1,141) (3.9) % $ (10,198) 30.6 %retail

Usedvehicle $ 20,983 $ 19,673 $ 1,311 6.7 % $ (7,400) 44.3 %retail

Grossprofitper unitsold:

Newvehicle $ 1,999 $ 1,725 $ 274 15.9 % $ (710) 57.0 %retailsales

Usedvehicle $ 1,213 $ 1,693 $ (480) (28.4) % $ (419) (3.6) %retailsales

Usedvehicle $ 247 $ 565 $ (318) (56.3) % $ (92) (39.9) %wholesalesales

Total $ 752 $ 1,322 $ (570) (43.1) % $ (264) (23.2) %used

F&I PRU $ 550 $ 511 $ 39 7.5 % $ (199) 46.5 %

Other:

SG&A $ 5.6 $ 11.6 $ (6.0) (51.5) % $ (2.1) (33.7) %expenses

AdjustedSG&A $ 5.6 $ 12.2 $ (6.5) (53.7) % $ (2.1) (36.8) %expenses^(1)

SG&A as %gross 114.0 % 86.1 % 27.9 %profit

AdjustedSG&A as %gross 114.0 % 90.3 % 23.7 %profit ^(1)



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

Six Months Ended June 30,

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

Revenues:

New vehicleretail $ 77.3 $ 138.5 $ (61.3) (44.2) % $ (16.3) (32.5) %sales

Usedvehicle 27.4 40.7 (13.3) (32.6) % (5.8) (18.3) %retailsales

Usedvehicle 6.7 8.9 (2.2) (24.3) % (1.6) (5.7) %wholesalesales

Total used 34.1 49.5 (15.4) (31.1) % (7.5) (16.0) %

Parts andservice 15.5 24.2 (8.7) (36.1) % (3.7) (20.7) %sales

F&I, net 2.3 3.8 (1.5) (39.1) % (0.5) (26.2) %

Total $ 129.1 $ 216.0 $ (86.9) (40.2) % $ (28.0) (27.3) %revenues

Grossprofit:

New vehicleretail $ 4.9 $ 8.1 $ (3.2) (39.8) % $ (1.1) (26.9) %sales

Usedvehicle 1.5 2.9 (1.4) (49.1) % (0.3) (38.1) %retailsales

Usedvehicle 0.3 0.6 (0.3) (50.2) % (0.1) (38.8) %wholesalesales

Total used 1.8 3.5 (1.7) (49.2) % (0.4) (38.2) %

Parts andservice 6.7 10.7 (4.0) (37.6) % (1.6) (22.8) %sales

F&I, net 2.3 3.8 (1.5) (39.1) % (0.5) (26.2) %

Total gross $ 15.6 $ 26.1 $ (10.4) (40.1) % $ (3.5) (26.6) %profit

Grossmargin:

New vehicleretail 6.3 % 5.9 % 0.5 %sales

Usedvehicle 5.4 % 7.2 % (1.7) %retailsales

Usedvehicle 4.2 % 6.4 % (2.2) %wholesalesales

Total used 5.2 % 7.0 % (1.8) %

Parts andservice 43.1 % 44.1 % (1.0) %sales

F&I, net 100.0 % 100.0 % - %

Total gross 12.1 % 12.1 % - %margin

Units sold:

Retail newvehicles 2,665 4,649 (1,984) (42.7) %sold

Retail usedvehicles 1,454 2,076 (622) (30.0) %sold

Wholesaleused 799 956 (157) (16.4) %vehiclessold

Total used 2,253 3,032 (779) (25.7) %

Averagesales priceper unitsold:

New vehicle $ 28,994 $ 29,798 $ (804) (2.7) % $ (6,111) 17.8 %retail

Usedvehicle $ 18,847 $ 19,586 $ (739) (3.8) % $ (4,014) 16.7 %retail

Grossprofit perunit sold:

New vehicleretail $ 1,839 $ 1,752 $ 87 5.0 % $ (396) 27.6 %sales

Usedvehicle $ 1,019 $ 1,402 $ (382) (27.3) % $ (219) (11.6) %retailsales

Usedvehicle $ 356 $ 597 $ (241) (40.4) % $ (81) (26.8) %wholesalesales

Total used $ 784 $ 1,148 $ (364) (31.7) % $ (170) (16.9) %

F&I PRU $ 557 $ 561 $ (4) (0.6) % $ (118) 20.5 %

Other:

SG&A $ 16.2 $ 24.0 $ (7.7) (32.3) % $ (3.9) (16.0) %expenses

Adjusted SG&A expenses $ 15.3 $ 24.0 $ (8.6) (36.0) % $ (3.7) (20.6) %^(1)

SG&A as %gross 103.8 % 91.9 % 11.9 %profit

Adjusted SG&A as % 98.2 % 91.9 % 6.3 %grossprofit ^(1)



^ See the section in this release titled "Reconciliation of Certain (1)Non-GAAP 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 June 30,

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

Revenues:

Newvehicle $ 1,034.4 $ 1,549.6 $ (515.1) (33.2) % $ (10.6) (32.6) %retailsales

Usedvehicle 620.3 827.1 (206.8) (25.0) % (5.4) (24.4) %retailsales

Usedvehicle 46.9 92.3 (45.3) (49.1) % (1.5) (47.4) %wholesalesales

Total 667.2 919.4 (252.1) (27.4) % (6.9) (26.7) %used

Parts andservice 275.3 371.9 (96.6) (26.0) % (2.8) (25.2) %sales

F&I, net 95.3 126.2 (30.9) (24.5) % (0.4) (24.2) %

Total $ 2,072.2 $ 2,966.9 $ (894.7) (30.2) % $ (20.8) (29.5) %revenues

Grossprofit:

Newvehicle $ 61.4 $ 69.3 $ (7.9) (11.5) % $ (0.7) (10.5) %retailsales

Usedvehicle 44.9 52.8 (7.9) (15.0) % (0.3) (14.4) %retailsales

Usedvehicle 2.0 - 2.1 4,571.6 % - 4,656.5 %wholesalesales

Total 46.9 52.8 (5.8) (11.1) % (0.3) (10.4) %used

Parts andservice 146.3 201.0 (54.7) (27.2) % (1.2) (26.6) %sales

F&I, net 95.3 126.2 (30.9) (24.5) % (0.4) (24.2) %

Totalgross $ 349.9 $ 449.3 $ (99.3) (22.1) % $ (2.6) (21.5) %profit

Grossmargin:

Newvehicle 5.9 % 4.5 % 1.5 %retailsales

Usedvehicle 7.2 % 6.4 % 0.9 %retailsales

Usedvehicle 4.3 % - % 4.4 %wholesalesales

Total 7.0 % 5.7 % 1.3 %used

Parts andservice 53.1 % 54.0 % (0.9) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 16.9 % 15.1 % 1.7 %margin

Unitssold:

Retailnew 25,767 41,632 (15,865) (38.1) %vehiclessold

Retailused 29,647 39,109 (9,462) (24.2) %vehiclessold

Wholesaleused 7,103 12,792 (5,689) (44.5) %vehiclessold

Total 36,750 51,901 (15,151) (29.2) %used

Averagesalesprice perunitsold:

Newvehicle $ 40,145 $ 37,220 $ 2,925 7.9 % $ (413) 9.0 %retail

Usedvehicle $ 20,921 $ 21,148 $ (227) (1.1) % $ (182) (0.2) %retail

Grossprofitper unitsold:

Newvehicle $ 2,383 $ 1,666 $ 717 43.1 % $ (25) 44.6 %retailsales

Usedvehicle $ 1,514 $ 1,350 $ 164 12.1 % $ (10) 12.9 %retailsales

Usedvehicle $ 286 $ (4) $ 290 8,153.1 % $ (5) 8,305.9 %wholesalesales

Total $ 1,277 $ 1,017 $ 260 25.6 % $ (9) 26.5 %used

F&I PRU $ 1,720 $ 1,563 $ 157 10.1 % $ (7) 10.5 %

Other:

SG&A $ 229.5 $ 333.9 $ (104.4) (31.3) % $ (2.9) (30.4) %expenses

AdjustedSG&A $ 217.8 $ 329.9 $ (112.2) (34.0) % $ (2.9) (33.1) %expenses^(1)

SG&A as %gross 65.6 % 74.3 % (8.7) %profit

AdjustedSG&A as %gross 62.2 % 73.4 % (11.2) %profit ^(1)

Operating 3.8 % 3.3 % 0.5 %margin %

Adjustedoperating 5.5 % 3.4 % 2.1 %margin %^(1)



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

Six Months Ended June 30,

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

Revenues:

Newvehicle $ 2,332.9 $ 2,943.4 $ (610.5) (20.7) % $ (26.9) (19.8) %retailsales

Usedvehicle 1,373.1 1,631.0 (258.0) (15.8) % (10.2) (15.2) %retailsales

Usedvehicle 129.9 180.8 (50.9) (28.2) % (2.4) (26.8) %wholesalesales

Total 1,502.9 1,811.9 (308.9) (17.0) % (12.6) (16.4) %used

Parts andservice 632.9 732.3 (99.4) (13.6) % (4.9) (12.9) %sales

F&I, net 205.7 238.4 (32.7) (13.7) % (0.9) (13.3) %

Total $ 4,674.4 $ 5,725.9 $ (1,051.5) (18.4) % $ (45.3) (17.6) %revenues

Grossprofit:

Newvehicle $ 121.1 $ 139.8 $ (18.7) (13.4) % $ (1.6) (12.2) %retailsales

Usedvehicle 85.5 100.2 (14.6) (14.6) % (0.6) (14.0) %retailsales

Usedvehicle 3.0 0.6 2.5 436.5 % (0.1) 448.6 %wholesalesales

Total 88.6 100.7 (12.2) (12.1) % (0.6) (11.4) %used

Parts andservice 337.4 395.2 (57.9) (14.6) % (2.2) (14.1) %sales

F&I, net 205.7 238.4 (32.7) (13.7) % (0.9) (13.3) %

Totalgross $ 752.8 $ 874.2 $ (121.4) (13.9) % $ (5.4) (13.3) %profit

Grossmargin:

Newvehicle 5.2 % 4.8 % 0.4 %retailsales

Usedvehicle 6.2 % 6.1 % 0.1 %retailsales

Usedvehicle 2.3 % 0.3 % 2.0 %wholesalesales

Total 5.9 % 5.6 % 0.3 %used

Parts andservice 53.3 % 54.0 % (0.7) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 16.1 % 15.3 % 0.8 %margin

Unitssold:

Retailnew 59,921 79,538 (19,617) (24.7) %vehiclessold

Retailused 65,316 77,152 (11,836) (15.3) %vehiclessold

Wholesaleused 18,718 25,384 (6,666) (26.3) %vehiclessold

Total 84,034 102,536 (18,502) (18.0) %used

Averagesalesprice perunitsold:

Newvehicle $ 38,932 $ 37,006 $ 1,926 5.2 % $ (449) 6.4 %retail

Usedvehicle $ 21,022 $ 21,140 $ (119) (0.6) % $ (156) 0.2 %retail

Grossprofitper unitsold:

Newvehicle $ 2,021 $ 1,758 $ 263 14.9 % $ (27) 16.5 %retailsales

Usedvehicle $ 1,310 $ 1,298 $ 11 0.9 % $ (9) 1.6 %retailsales

Usedvehicle $ 162 $ 22 $ 140 627.6 % $ (4) 643.9 %wholesalesales

Total $ 1,054 $ 982 $ 72 7.3 % $ (8) 8.1 %used

F&I PRU $ 1,643 $ 1,521 $ 121 8.0 % $ (7) 8.4 %

Other:

SG&A $ 544.5 $ 657.3 $ (112.8) (17.2) % $ (5.5) (16.3) %expenses

AdjustedSG&A $ 531.8 $ 650.6 $ (118.8) (18.3) % $ (5.2) (17.5) %expenses^(1)

SG&A as %gross 72.3 % 75.2 % (2.9) %profit

AdjustedSG&A as %gross 70.7 % 74.4 % (3.8) %profit ^(1)

Operating 3.2 % 3.2 % - %margin %

Adjustedoperating 4.0 % 3.3 % 0.7 %margin %^(1)



^ See the section in this release titled "Reconciliation of Certain (1)Non-GAAP 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 June 30,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $ 898.0 $ 1,184.7 $ (286.7) (24.2) %

Used vehicle retail sales 527.2 619.7 (92.5) (14.9) %

Used vehicle wholesale sales 29.9 43.4 (13.5) (31.2) %

Total used 557.1 663.1 (106.0) (16.0) %

Parts and service sales 249.3 308.0 (58.6) (19.0) %

F&I, net 88.8 109.8 (21.0) (19.1) %

Total revenues $ 1,793.3 $ 2,265.6 $ (472.4) (20.8) %

Gross profit:

New vehicle retail sales $ 54.7 $ 54.5 $ 0.1 0.2 %

Used vehicle retail sales 39.9 42.9 (3.0) (7.1) %

Used vehicle wholesale sales 1.6 0.9 0.7 73.9 %

Total used 41.5 43.9 (2.4) (5.4) %

Parts and service sales 133.0 166.3 (33.3) (20.0) %

F&I, net 88.8 109.8 (21.0) (19.1) %

Total gross profit $ 317.9 $ 374.5 $ (56.6) (15.1) %

Gross margin:

New vehicle retail sales 6.1 % 4.6 % 1.5 %

Used vehicle retail sales 7.6 % 6.9 % 0.6 %

Used vehicle wholesale sales 5.4 % 2.1 % 3.3 %

Total used 7.4 % 6.6 % 0.8 %

Parts and service sales 53.3 % 54.0 % (0.7) %

F&I, net 100.0 % 100.0 % - %

Total gross margin 17.7 % 16.5 % 1.2 %

Units sold:

Retail new vehicles sold 21,583 30,171 (8,588) (28.5) %

Retail used vehicles sold 25,616 30,055 (4,439) (14.8) %

Wholesale used vehicles sold 5,087 6,723 (1,636) (24.3) %

Total used 30,703 36,778 (6,075) (16.5) %

Average sales price per unitsold:

New vehicle retail $ 41,608 $ 39,267 $ 2,341 6.0 %

Used vehicle retail $ 20,581 $ 20,618 $ (37) (0.2) %

Gross profit per unit sold:

New vehicle retail sales $ 2,533 $ 1,808 $ 725 40.1 %

Used vehicle retail sales $ 1,557 $ 1,429 $ 129 9.0 %

Used vehicle wholesale sales $ 316 $ 137 $ 178 129.8 %

Total used $ 1,351 $ 1,193 $ 159 13.3 %

F&I PRU $ 1,882 $ 1,824 $ 58 3.2 %

Other:

SG&A expenses $ 199.1 $ 266.3 $ (67.1) (25.2) %

Adjusted SG&A expenses ^(1) $ 188.6 $ 262.3 $ (73.7) (28.1) %

SG&A as % gross profit 62.6 % 71.1 % (8.5) %

Adjusted SG&A as % gross profit 59.3 % 70.0 % (10.7) %^(1)



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

Six Months Ended June 30,

2020 2019 Increase/ % Change (Decrease)

Revenues:

New vehicle retail sales $ 1,868.4 $ 2,208.7 $ (340.3) (15.4) %

Used vehicle retail sales 1,085.2 1,207.6 (122.3) (10.1) %

Used vehicle wholesale sales 76.2 85.0 (8.8) (10.3) %

Total used 1,161.5 1,292.5 (131.1) (10.1) %

Parts and service sales 547.7 601.6 (53.9) (9.0) %

F&I, net 185.4 205.4 (20.0) (9.7) %

Total revenues $ 3,763.0 $ 4,308.2 $ (545.2) (12.7) %

Gross profit:

New vehicle retail sales $ 99.8 $ 105.0 $ (5.2) (5.0) %

Used vehicle retail sales 71.0 80.9 (9.9) (12.3) %

Used vehicle wholesale sales 2.4 2.1 0.3 15.9 %

Total used 73.4 83.0 (9.6) (11.6) %

Parts and service sales 293.0 324.9 (31.9) (9.8) %

F&I, net 185.4 205.4 (20.0) (9.7) %

Total gross profit $ 651.6 $ 718.3 $ (66.7) (9.3) %

Gross margin:

New vehicle retail sales 5.3 % 4.8 % 0.6 %

Used vehicle retail sales 6.5 % 6.7 % (0.2) %

Used vehicle wholesale sales 3.2 % 2.5 % 0.7 %

Total used 6.3 % 6.4 % (0.1) %

Parts and service sales 53.5 % 54.0 % (0.5) %

F&I, net 100.0 % 100.0 % - %

Total gross margin 17.3 % 16.7 % 0.6 %

Units sold:

Retail new vehicles sold 45,737 56,316 (10,579) (18.8) %

Retail used vehicles sold 52,826 58,923 (6,097) (10.3) %

Wholesale used vehicles sold 12,047 13,685 (1,638) (12.0) %

Total used 64,873 72,608 (7,735) (10.7) %

Average sales price per unitsold:

New vehicle retail $ 40,851 $ 39,220 $ 1,631 4.2 %

Used vehicle retail $ 20,544 $ 20,494 $ 50 0.2 %

Gross profit per unit sold:

New vehicle retail sales $ 2,181 $ 1,865 $ 317 17.0 %

Used vehicle retail sales $ 1,343 $ 1,373 $ (30) (2.2) %

Used vehicle wholesale sales $ 203 $ 154 $ 49 31.7 %

Total used $ 1,132 $ 1,143 $ (12) (1.0) %

F&I PRU $ 1,881 $ 1,782 $ 99 5.6 %

Other:

SG&A expenses $ 451.2 $ 522.5 $ (71.3) (13.7) %

Adjusted SG&A expenses ^(1) $ 440.6 $ 515.8 $ (75.2) (14.6) %

SG&A as % gross profit 69.2 % 72.7 % (3.5) %

Adjusted SG&A as % gross profit 67.6 % 71.8 % (4.2) %^(1)



^ See the section in this release titled "Reconciliation of Certain (1)Non-GAAP 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 June 30,

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

Revenues:

Newvehicle $ 116.6 $ 292.3 $ (175.7) (60.1) % $ (3.6) (58.9) %retailsales

Usedvehicle 85.6 189.0 (103.4) (54.7) % (2.8) (53.3) %retailsales

Usedvehicle 14.2 45.6 (31.4) (68.8) % (0.5) (67.8) %wholesalesales

Total used 99.8 234.6 (134.8) (57.5) % (3.2) (56.1) %

Parts andservice 20.0 52.0 (32.0) (61.5) % (0.6) (60.2) %sales

F&I, net 5.9 14.6 (8.7) (59.3) % (0.2) (58.2) %

Total $ 242.4 $ 593.5 $ (351.1) (59.2) % $ (7.6) (57.9) %revenues

Grossprofit:

Newvehicle $ 5.3 $ 10.5 $ (5.1) (49.0) % $ (0.2) (47.5) %retailsales

Usedvehicle 4.6 8.4 (3.8) (45.3) % (0.2) (43.5) %retailsales

Usedvehicle 0.3 (1.2) 1.6 127.8 % - 128.5 %wholesalesales

Total used 4.9 7.1 (2.2) (30.8) % (0.2) (28.6) %

Parts andservice 10.9 29.5 (18.6) (63.1) % (0.3) (61.9) %sales

F&I, net 5.9 14.6 (8.7) (59.3) % (0.2) (58.2) %

Totalgross $ 27.1 $ 61.6 $ (34.6) (56.1) % $ (0.8) (54.7) %profit

Grossmargin:

Newvehicle 4.6 % 3.6 % 1.0 %retailsales

Usedvehicle 5.3 % 4.4 % 0.9 %retailsales

Usedvehicle 2.4 % (2.7) % 5.2 %wholesalesales

Total used 4.9 % 3.0 % 1.9 %

Parts andservice 54.3 % 56.6 % (2.3) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 11.2 % 10.4 % 0.8 %margin

Unitssold:

Retail newvehicles 3,490 8,983 (5,493) (61.1) %sold

Retailused 3,675 8,111 (4,436) (54.7) %vehiclessold

Wholesaleused 1,692 5,630 (3,938) (69.9) %vehiclessold

Total used 5,367 13,741 (8,374) (60.9) %

Averagesalesprice perunit sold:

Newvehicle $ 33,416 $ 32,537 $ 879 2.7 % $ (1,022) 5.8 %retail

Usedvehicle $ 23,295 $ 23,305 $ (10) - % $ (749) 3.2 %retail

Grossprofit perunit sold:

Newvehicle $ 1,533 $ 1,169 $ 364 31.2 % $ (45) 35.1 %retailsales

Usedvehicle $ 1,244 $ 1,030 $ 214 20.8 % $ (41) 24.7 %retailsales

Usedvehicle $ 205 $ (221) $ 426 192.5 % $ (5) 194.8 %wholesalesales

Total used $ 917 $ 518 $ 399 77.1 % $ (30) 82.9 %

F&I PRU $ 827 $ 853 $ (26) (3.0) % $ (23) (0.3) %

Other:

SG&A $ 24.8 $ 55.9 $ (31.1) (55.7) % $ (0.9) (54.1) %expenses

AdjustedSG&A $ 23.5 $ 55.9 $ (32.3) (57.8) % $ (0.8) (56.4) %expenses ^(1)

SG&A as %gross 91.5 % 90.6 % 0.9 %profit

AdjustedSG&A as %gross 87.0 % 90.6 % (3.6) %profit ^(1)



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

Six Months Ended June 30,

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

Revenues:

Newvehicle $ 387.2 $ 599.0 $ (211.8) (35.4) % $ (10.6) (33.6) %retailsales

Usedvehicle 260.4 385.4 (125.0) (32.4) % (4.3) (31.3) %retailsales

Usedvehicle 46.9 89.1 (42.1) (47.3) % (0.8) (46.5) %wholesalesales

Total used 307.4 474.5 (167.1) (35.2) % (5.1) (34.1) %

Parts andservice 69.7 107.1 (37.3) (34.9) % (1.2) (33.8) %sales

F&I, net 18.0 29.3 (11.3) (38.5) % (0.4) (37.1) %

Total $ 782.3 $ 1,209.9 $ (427.6) (35.3) % $ (17.3) (33.9) %revenues

Grossprofit:

Newvehicle $ 16.4 $ 26.7 $ (10.3) (38.5) % $ (0.6) (36.2) %retailsales

Usedvehicle 13.1 16.3 (3.3) (19.9) % (0.3) (18.3) %retailsales

Usedvehicle 0.3 (2.1) 2.4 114.3 % - 114.5 %wholesalesales

Total used 13.4 14.2 (0.9) (6.0) % (0.3) (4.2) %

Parts andservice 37.7 60.0 (22.2) (37.1) % (0.7) (36.0) %sales

F&I, net 18.0 29.3 (11.3) (38.5) % (0.4) (37.1) %

Totalgross $ 85.6 $ 130.2 $ (44.6) (34.3) % $ (1.9) (32.8) %profit

Grossmargin:

Newvehicle 4.2 % 4.5 % (0.2) %retailsales

Usedvehicle 5.0 % 4.2 % 0.8 %retailsales

Usedvehicle 0.6 % (2.4) % 3.0 %wholesalesales

Total used 4.4 % 3.0 % 1.4 %

Parts andservice 54.1 % 56.0 % (1.9) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 10.9 % 10.8 % 0.2 %margin

Unitssold:

Retail newvehicles 11,519 18,618 (7,099) (38.1) %sold

Retailused 11,036 16,228 (5,192) (32.0) %vehiclessold

Wholesaleused 5,872 10,810 (4,938) (45.7) %vehiclessold

Total used 16,908 27,038 (10,130) (37.5) %

Averagesalesprice perunit sold:

Newvehicle $ 33,613 $ 32,173 $ 1,440 4.5 % $ (920) 7.3 %retail

Usedvehicle $ 23,598 $ 23,750 $ (152) (0.6) % $ (394) 1.0 %retail

Grossprofit perunit sold:

Newvehicle $ 1,425 $ 1,433 $ (8) (0.5) % $ (51) 3.0 %retailsales

Usedvehicle $ 1,186 $ 1,007 $ 179 17.8 % $ (23) 20.1 %retailsales

Usedvehicle $ 51 $ (194) $ 246 126.4 % $ (1) 126.7 %wholesalesales

Total used $ 792 $ 527 $ 265 50.4 % $ (15) 53.3 %

F&I PRU $ 799 $ 841 $ (42) (5.0) % $ (18) (2.8) %

Other:

SG&A $ 77.1 $ 111.6 $ (34.4) (30.9) % $ (1.6) (29.5) %expenses

AdjustedSG&A $ 75.9 $ 111.6 $ (35.7) (32.0) % $ (1.5) (30.6) %expenses ^(1)

SG&A as %gross 90.1 % 85.7 % 4.4 %profit

AdjustedSG&A as %gross 88.7 % 85.7 % 3.0 %profit ^(1)



^ See the section in this release titled "Reconciliation of Certain (1)Non-GAAP 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 June 30,

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

Revenues:

Newvehicle $ 19.8 $ 72.5 $ (52.8) (72.7) % $ (7.1) (63.0) %retailsales

Usedvehicle 7.4 18.4 (10.9) (59.5) % (2.6) (45.2) %retailsales

Usedvehicle 2.9 3.3 (0.4) (12.8) % (1.1) 19.5 %wholesalesales

Total used 10.3 21.7 (11.4) (52.4) % (3.7) (35.4) %

Parts andservice 5.9 11.9 (6.0) (50.3) % (2.2) (32.0) %sales

F&I, net 0.6 1.7 (1.2) (67.0) % (0.2) (55.0) %

Total $ 36.6 $ 107.8 $ (71.3) (66.1) % $ (13.1) (53.9) %revenues

Grossprofit:

Newvehicle $ 1.4 $ 4.3 $ (2.9) (67.8) % $ (0.5) (56.4) %retailsales

Usedvehicle 0.4 1.5 (1.1) (71.7) % (0.1) (61.9) %retailsales

Usedvehicle 0.1 0.3 (0.2) (71.1) % - (60.3) %wholesalesales

Total used 0.5 1.8 (1.3) (71.6) % (0.2) (61.7) %

Parts andservice 2.5 5.2 (2.8) (53.1) % (0.9) (35.9) %sales

F&I, net 0.6 1.7 (1.2) (67.0) % (0.2) (55.0) %

Totalgross $ 4.9 $ 13.1 $ (8.2) (62.3) % $ (1.8) (48.7) %profit

Grossmargin:

Newvehicle 7.0 % 5.9 % 1.1 %retailsales

Usedvehicle 5.8 % 8.3 % (2.5) %retailsales

Usedvehicle 2.8 % 8.4 % (5.6) %wholesalesales

Total used 4.9 % 8.3 % (3.3) %

Parts andservice 41.8 % 44.2 % (2.5) %sales

F&I, net 100.0 % 100.0 % - %

Totalgross 13.5 % 12.1 % 1.4 %margin

Unitssold:

Retail newvehicles 694 2,478 (1,784) (72.0) %sold

Retailused 356 943 (587) (62.2) %vehiclessold

Wholesaleused 324 439 (115) (26.2) %vehiclessold

Total used 680 1,382 (702) (50.8) %

Averagesalesprice perunit sold:

Newvehicle $ 28,495 $ 29,272 $ (777) (2.7) % $ (10,193) 32.2 %retail

Usedvehicle $ 20,905 $ 19,490 $ 1,415 7.3 % $ (7,384) 45.1 %retail

Grossprofit perunit sold:

Newvehicle $ 1,999 $ 1,738 $ 261 15.0 % $ (709) 55.8 %retailsales

Usedvehicle $ 1,204 $ 1,608 $ (404) (25.1) % $ (418) 0.9 %retailsales

Usedvehicle $ 247 $ 630 $ (383) (60.8) % $ (92) (46.2) %wholesalesales

Total used $ 748 $ 1,297 $ (549) (42.3) % $ (263) (22.1) %

F&I PRU $ 550 $ 511 $ 39 7.6 % $ (199) 46.6 %

Other:

SG&A $ 5.6 $ 11.8 $ (6.2) (52.3) % $ (2.1) (34.8) %expenses

SG&A as %gross 114.0 % 90.1 % 23.9 %profit

Group 1 Automotive, Inc.

Same Store Operating Data - Brazil

(Unaudited)

(In millions, except unit data)

Six Months Ended June 30,

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

Revenues:

New vehicleretail $ 77.3 $ 135.7 $ (58.4) (43.1) % $ (16.3) (31.1) %sales

Usedvehicle 27.4 38.0 (10.7) (28.0) % (5.8) (12.7) %retailsales

Usedvehicle 6.7 6.8 - (0.7) % (1.7) 24.0 %wholesalesales

Total used 34.1 44.8 (10.7) (23.9) % (7.5) (7.2) %

Parts andservice 15.5 23.6 (8.1) (34.5) % (3.7) (18.8) %sales

F&I, net 2.3 3.7 (1.4) (37.9) % (0.5) (24.7) %

Total $ 129.1 $ 207.8 $ (78.7) (37.9) % $ (28.0) (24.4) %revenues

Grossprofit:

New vehicleretail $ 4.9 $ 8.1 $ (3.2) (39.8) % $ (1.1) (26.8) %sales

Usedvehicle 1.5 2.9 (1.4) (49.3) % (0.3) (38.2) %retailsales

Usedvehicle 0.3 0.6 (0.3) (48.6) % (0.1) (37.0) %wholesalesales

Total used 1.8 3.5 (1.7) (49.2) % (0.4) (38.0) %

Parts andservice 6.7 10.3 (3.7) (35.6) % (1.6) (20.4) %sales

F&I, net 2.3 3.7 (1.4) (37.9) % (0.5) (24.7) %

Total gross $ 15.6 $ 25.7 $ (10.0) (39.1) % $ (3.5) (25.4) %profit

Grossmargin:

New vehicleretail 6.3 % 6.0 % 0.3 %sales

Usedvehicle 5.4 % 7.7 % (2.3) %retailsales

Usedvehicle 4.2 % 8.2 % (3.9) %wholesalesales

Total used 5.2 % 7.7 % (2.6) %

Parts andservice 43.1 % 43.9 % (0.7) %sales

F&I, net 100.0 % 100.0 % - %

Total gross 12.1 % 12.3 % (0.2) %margin

Units sold:

Retail newvehicles 2,665 4,604 (1,939) (42.1) %sold

Retail usedvehicles 1,454 2,001 (547) (27.3) %sold

Wholesaleused 799 889 (90) (10.1) %vehiclessold

Total used 2,253 2,890 (637) (22.0) %

Averagesales priceper unitsold:

New vehicle $ 28,994 $ 29,474 $ (480) (1.6) % $ (6,113) 19.1 %retail

Usedvehicle $ 18,828 $ 19,011 $ (183) (1.0) % $ (4,008) 20.1 %retail

Grossprofit perunit sold:

New vehicleretail $ 1,839 $ 1,768 $ 71 4.0 % $ (396) 26.4 %sales

Usedvehicle $ 1,018 $ 1,458 $ (440) (30.2) % $ (221) (15.0) %retailsales

Usedvehicle $ 356 $ 622 $ (267) (42.9) % $ (81) (29.9) %wholesalesales

Total used $ 783 $ 1,201 $ (418) (34.8) % $ (172) (20.5) %

F&I PRU $ 557 $ 560 $ (3) (0.5) % $ (118) 20.7 %

Other:

SG&A $ 16.2 $ 23.2 $ (7.0) (30.3) % $ (3.9) (13.5) %expenses

Adjusted SG&A expenses $ 15.3 $ 23.2 $ (7.9) (34.2) % $ (3.7) (18.3) %^(1)

SG&A as %gross 103.5 % 90.5 % 13.0 %profit

Adjusted SG&A as % 97.8 % 90.5 % 7.4 %grossprofit ^(1)



^ See the section in this release titled "Reconciliation of Certain (1)Non-GAAP 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 June 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 $ 237.2 $ (1.2) $ (10.6) $ - $ - $ 225.4

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

Income (loss) $ 79.0 $ 1.2 $ 10.6 $ 23.8 $ - $ 114.6from operations

(Gain) loss onextinguishment $ 10.4 $ - $ - $ - $ (10.4) $ -of debt

Income (loss)before income $ 42.3 $ 1.2 $ 10.6 $ 23.8 $ 10.4 $ 88.3taxes

Less: (Benefit)provision for 12.2 0.2 0.8 3.3 2.2 18.7income taxes

Net income 30.2 1.0 9.7 20.6 8.1 69.6(loss)

Less: Earnings(loss) allocated 1.1 - 0.4 0.7 0.3 2.5to participatingsecurities

Net income(loss) available $ 29.1 $ 1.0 $ 9.4 $ 19.8 $ 7.8 $ 67.1to dilutedcommon shares

Diluted income(loss) per $ 1.63 $ 0.05 $ 0.53 $ 1.11 $ 0.44 $ 3.77common share

Effective tax 28.7 % 21.2 %rate

SG&A as % gross 66.1 % 62.8 %profit ^(1)

Operating margin 3.7 % 5.4 %^(2)

Pretax margin ^ 2.0 % 4.1 %(3)

Same Store SG&A $ 229.5 $ (1.2) $ (10.6) $ - $ - $ 217.8

Same Store SG&Aas % gross 65.6 % 62.2 %profit ^(1)

Same Storeincome (loss) $ 78.6 $ 1.2 $ 10.6 $ 23.8 $ - $ 114.2from operations

Same Storeoperating margin 3.8 % 5.5 %^(2)



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

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

^ Adjusted pretax margin excludes the impact of SG&A reconciling items and (3)asset impairment charges, as well as 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 June 30, 2019

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

SG&A expenses $ 338.7 $ (4.0) $ 0.2 $ 0.4 $ - $ 335.3

Asset $ 0.5 $ - $ - $ - $ (0.5) $ -impairments

Income (loss)from $ 97.1 $ 4.0 $ (0.2) $ (0.4) $ 0.5 $ 101.1operations

Income (loss)before income $ 63.2 $ 4.0 $ (0.2) $ (0.4) $ 0.5 $ 67.2taxes

Less:(Benefit) 14.0 1.0 (0.5) - - 14.4provision forincome taxes

Net income 49.2 3.0 0.4 (0.4) 0.5 52.8(loss)

Less:Earnings(loss) 1.8 0.1 - - - 2.0allocated toparticipatingsecurities

Net income(loss)available to $ 47.4 $ 2.9 $ 0.3 $ (0.4) $ 0.5 $ 50.8dilutedcommon shares

Dilutedincome (loss) $ 2.64 $ 0.16 $ 0.02 $ (0.02) $ 0.03 $ 2.83per commonshare

Effective tax 22.2 % 21.5 %rate

SG&A as %gross profit 74.6 % 73.8 %^(1)

Operating 3.2 % 3.4 %margin ^(2)

Pretax margin 2.1 % 2.2 %^(2)

Same Store SG $ 333.9 $ (4.0) $ - $ - $ - $ 329.9&A

Same Store SG&A as % gross 74.3 % 73.4 %profit^ (1)

Same Storeincome (loss) $ 97.1 $ 4.0 $ - $ - $ 0.6 $ 101.7fromoperations

Same Storeoperating 3.3 % 3.4 %margin^ (2)



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

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

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)

Six Months Ended June 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 $ 565.1 $ (2.1) $ (10.6) $ - $ - $ 552.5

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

Income (loss) $ 148.9 $ 2.1 $ 10.6 $ 23.8 $ - $ 185.4from operations

(Gain) loss onextinguishment $ 10.4 $ - $ - $ - $ (10.4) $ -of debt

Income (loss)before income $ 81.2 $ 2.1 $ 10.6 $ 23.8 $ 10.4 $ 128.1taxes

Less: (Benefit)provision for 21.3 0.3 0.8 3.3 2.2 27.9income taxes

Net income 60.0 1.8 9.7 20.6 8.1 100.2(loss)

Less: Earnings(loss) allocated 2.1 0.1 0.4 0.7 0.3 3.6to participatingsecurities

Net income(loss) available $ 57.8 $ 1.7 $ 9.4 $ 19.8 $ 7.8 $ 96.6to dilutedcommon shares

Diluted income(loss) per $ 3.25 $ 0.10 $ 0.53 $ 1.11 $ 0.44 $ 5.42common share

Effective tax 26.2 % 21.8 %rate

SG&A as % gross 72.9 % 71.3 %profit ^(1)

Operating margin 3.1 % 3.8 %^(2)

Pretax margin ^ 1.7 % 2.7 %(3)

Same Store SG&A $ 544.5 $ (2.1) $ (10.6) $ - $ - $ 531.8

Same Store SG&Aas % gross 72.3 % 70.7 %profit ^(1)

Same Storeincome (loss) $ 148.7 $ 2.1 $ 10.6 $ 23.8 $ - $ 185.2from operations

Same Storeoperating margin 3.2 % 4.0 %^(2)



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

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

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

Group 1 Automotive, Inc.

Reconciliation of Certain Non-GAAP Financial Measures - Consolidated

(Unaudited)

(In millions, except per share data)

Six Months Ended June 30, 2019

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

SG&A expenses $ 666.4 $ (6.0) $ 5.4 $ (2.0) $ - $ 663.8

Asset $ 0.5 $ - $ - $ - $ (0.5) $ -impairments

Income (loss)from $ 183.9 $ 6.0 $ (5.4) $ 2.0 $ 0.5 $ 187.1operations

Income (loss)before income $ 115.4 $ 6.0 $ (5.4) $ 2.0 $ 0.5 $ 118.5taxes

Less:(Benefit) 27.5 1.5 (1.9) 0.5 - 27.6provision forincome taxes

Net income 87.9 4.5 (3.5) 1.5 0.5 91.0(loss)

Less:Earnings(loss) 3.3 0.2 (0.1) 0.1 - 3.4allocated toparticipatingsecurities

Net income(loss)available to $ 84.6 $ 4.3 $ (3.4) $ 1.5 $ 0.5 $ 87.5dilutedcommon shares

Dilutedincome (loss) $ 4.73 $ 0.24 $ (0.19) $ 0.08 $ 0.03 $ 4.90per commonshare

Effective tax 23.9 % 23.3 %rate

SG&A as %gross profit 75.2 % 74.9 %^(1)

Operating 3.2 % 3.2 %margin ^(2)

Pretax margin 2.0 % 2.0 %^(2)

Same Store SG $ 657.3 $ (6.0) $ 1.1 $ (1.8) $ - $ 650.6&A

Same Store SG&A as % gross 75.2 % 74.4 %profit ^(1)

Same Storeincome (loss) $ 181.9 $ 6.0 $ (1.1) $ 1.8 $ 0.6 $ 189.2fromoperations

Same Storeoperating 3.2 % 3.3 %margin ^(2)



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

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

Group 1 Automotive, Inc.

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

(Unaudited)

(In millions)

Three Months Ended June 30, 2020

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

SG&A expenses $ 203.3 $ (10.6) $ 192.7

SG&A as % gross profit ^(1) 62.6 % 59.4 %

Same Store SG&A $ 199.1 $ (10.6) $ 188.6

Same Store SG&A as % gross profit ^ 62.6 % 59.3 %(1)

Three Months Ended June 30, 2019

U.S. GAAP Catastrophic Non-GAAP events adjusted

SG&A expenses $ 268.1 $ (4.0) $ 264.1

SG&A as % gross profit^ (1) 71.2 % 70.1 %

Same Store SG&A $ 266.3 $ (4.0) $ 262.3

Same Store SG&A as % gross profit ^ 71.1 % 70.0 %(1)

Six Months Ended June 30, 2020

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

SG&A expenses $ 460.8 $ (10.6) $ 450.2

SG&A as % gross profit ^(1) 69.2 % 67.7 %

Same Store SG&A $ 451.2 $ (10.6) $ 440.6

Same Store SG&A as % gross profit ^ 69.2 % 67.6 %(1)

Six Months Ended June 30, 2019

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

SG&A expenses $ 524.2 $ (6.0) $ 5.2 $ (1.8) $ 521.7

SG&A as %gross profit ^ 72.4 % 72.1 %(1)

Same Store SG& $ 522.5 $ (6.0) $ 1.1 $ (1.8) $ 515.8A

Same Store SG&A as % gross 72.7 % 71.8 %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)

(In millions)

Three Months Ended June 30, 2020

U.S. GAAP Severance costs Non-GAAP Adjusted

SG&A expenses $ 28.3 $ (1.2) $ 27.1

SG&A as % gross profit ^(1) 96.2 % 92.1 %

Same Store SG&A $ 24.8 $ (1.2) $ 23.5

Same Store SG&A as % gross profit ^(1) 91.5 % 87.0 %

Six Months Ended June 30, 2020

U.S. GAAP Severance costs Non-GAAP Adjusted

SG&A expenses $ 88.2 $ (1.2) $ 86.9

SG&A as % gross profit ^(1) 93.5 % 92.2 %

Same Store SG&A $ 77.1 $ (1.2) $ 75.9

Same Store SG&A as % gross profit ^(1) 90.1 % 88.7 %



^(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)

Three Months Ended June 30, 2019

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

SG&A expenses $ 11.6 $ 0.2 $ 0.4 $ 12.2

SG&A as % gross profit ^ 86.1 % 90.3 %(1)

Same Store SG&A $ 11.8 $ - $ - $ 11.8

Same Store SG&A as % 90.1 % 90.1 %gross profit ^(1)

Six Months Ended June 30, 2020

U.S. GAAP Severance costs Non-GAAP adjusted

SG&A expenses $ 16.2 $ (0.9) $ 15.3

SG&A as % gross profit ^ 103.8 % 98.2 %(1)

Same Store SG&A $ 16.2 $ (0.9) $ 15.3

Same Store SG&A as % 103.5 % 97.8 %gross profit ^(1)

Six Months Ended June 30, 2019

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

SG&A expenses $ 24.0 $ 0.2 $ (0.2) $ 24.0

SG&A as % gross profit ^ 91.9 % 91.9 %(1)

Same Store SG&A $ 23.2 $ - $ - $ 23.2

Same Store SG&A as % 90.5 % 90.5 %gross profit^ (1)



^(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.