Group 1 Automotive, Inc. operates in the automotive retail industry. As of December 31, 2013, the company owned and operated 147 franchises, representing 34 brands of automobiles, at 116 dealership locations and 28 collision service centers in the United States of America (U.S.), 19 franchises at 14 dealerships and 4 collision centers in the United Kingdom (U.K.) and 22 franchises at 18 dealerships and 5 collision centers in Brazil. Through its dealerships, the company sells new and used cars and light trucks; arrange related vehicle financing; sell service and insurance contracts; provide automotive maintenance and repair services; and sell vehicle parts. The company’s operations are primarily located in major metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New York, Oklahoma, South Carolina, and Texas in the U.S., in 13 towns in the U.K., and in key metropolitan markets in the states of Sao Paulo and Parana in Brazil. As of December 31, 2013, the company’s U.S. retail network consisted of the following two regions (with the number of dealerships they comprised), the East (48 dealerships in Alabama, Florida, Georgia, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New York, and South Carolina); and the West (68 dealerships in California, Kansas, Louisiana, Oklahoma, and Texas). In addition, as of December 31, 2013, the company had two international regions one of which consisted of the 14 dealerships in the U.K. and the other of which consisted of the 18 dealerships in Brazil. Strategy The company’s business strategy includes the following elements: sell new and used cars and light trucks; arrange related vehicle financing, service and insurance contracts; provide automotive maintenance and repair services; and sell vehicle parts via an expanding network of franchised dealerships located primarily in various regions of the U.S., the U.K., and Brazil. Used Vehicle Sales, Retail and Wholesale The company sells used vehicles at each of its franchised dealerships. In 2013, the company sold or leased 98,813 used vehicles at its dealerships, and sold 50,736 used vehicles in wholesale markets. The company’s new vehicle operations provide its used vehicle operations with a supply of trade-ins and off-lease vehicles, and used vehicles. The company’s dealerships supplement their used vehicle inventory with purchases at auctions, including manufacturer-sponsored auctions available only to franchised dealers. Parts and Service Sales The company sells replacement parts and provides maintenance and repair services at each of its franchised dealerships, and provides collision repair services at the 37collision centers that the company operates. It performs both warranty and non-warranty service work at its dealerships, primarily for the vehicle brand(s) sold at a particular location. Finance and Insurance Sales The company offers a variety of third-party finance, vehicle service and insurance products. Financing: The company arranges third-party purchase and lease financing for its customers. These third-party finance companies include manufacturers’ captive finance subsidiaries, selected commercial banks and various other third-parties, including credit unions and regional auto finance companies. Extended Warranty, Vehicle Service and Insurance Products: The company offers its customers various vehicle warranty and extended protection products in connection with purchases of new and used vehicles, including extended warranties; maintenance, or vehicle service, products and programs; guaranteed asset protection insurance, which covers the shortfall between a customer’s contract balance and insurance payoff in the event of a total vehicle loss; and lease ‘wear and tear’ insurance. Regulations Automotive and Other Laws and Regulations: The company’s operations are subject to the National Traffic and Motor Vehicle Safety Act, Federal Motor Vehicle Safety Standards promulgated by the United States Department of Transportation and the rules and regulations of various state motor vehicle regulatory agencies. The company’s operations are subject to consumer protection laws known as Lemon Laws. Significant Events Group 1 Automotive Inc. announced that it acquired three BMW/MINI dealerships located in the United Kingdom. These dealerships would continue to operate as Elms Bedford BMW/MINI, Elms Cambridge BMW/MINI and Elms Stansted BMW/MINI. History Group 1 Automotive, Inc. was founded in 1995.
group 1 automotive inc (GPI:New York)
Houston, TX 77024
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