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Group 1 Automotive Posts Record Earnings

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Aug. 2, 2018—Auto retailer Group 1 Automotive recently posted record-breaking earnings, according to a CNBC report. The company, which is the third-biggest auto retailer in the U.S, posted a 44 percent increase in quarterly profits last week.

New car sales in the U.S. have increased about 7.4 percent this quarter, and inshore-used car sales have spiked 11 percent.

All told, Group 1 reported a net income of $56.46 million, a $2.72 per share increase from $39.13 million, or $1.84 per share, last year.

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