Group 1 Automotive of Houston saw its parts and service revenue rise 11.5 percent to $237.51 million in the first quarter of 2013. Parts and service gross profit increased 12.3 percent to $125.02 million. Same-store parts and service revenue increased 5.4 percent to $219.64 million.
“The overall revenue growth is explained by increases of 13.2 percent in collision, 7.8 percent in warranty, 5.9 percent in wholesale parts and 2.3 percent in customer-pay,” explained CFO John Rickel on a May 2 conference call. “It should be noted that manufacturer free maintenance programs, such as Toyota Care, have shifted what once were classified as customer-pay revenue over to the warranty line, partially explaining the relative underperformance of customer-pay growth as compared to warranty.”
Same-store parts and service gross profit rose 6.6 percent to $115.99 million.
U.S. parts and service revenue grew 5.3 percent to $216.35 million, while U.S. gross profit climbed 7.3 percent to $114.82 million.
Group 1 owns and operates 143 automotive dealerships, 182 franchises, and 36 collision centers in the United States, United Kingdom and Brazil.
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