Group 1 Automotive saw its parts, service and collision sales increase 18.4 percent to $260.95 million in the second quarter of 2013, driven by increases in all aspects of the business: collision, customer-pay, warranty and wholesale parts. Gross profit rose 17.3 percent to $137.07 million, while gross margin slipped from 53.1 percent to 52.5 percent.
Same-store sales growth was a record 8.8 percent.
U.S. parts and service sales grew 7.1 percent to $224.08 million in the quarter (same-store sales up 8.7 percent). This breaks down as a 15-percent increase in warranty revenue, a 23-percent rise in collision revenue, a 4.5-percent increase in customer-pay parts and service sales, and a 5.4-percent rise in wholesale parts revenue.
U.S. parts and service gross profit increased 8 percent to $119.90 million.
Houston-based Group 1 owns and operates 139 automotive dealerships, 178 franchises, and 35 collision centers in the United States, United Kingdom and Brazil that offer 33 brands of automobiles.
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