– Anticipated to Generate $200 Million in Once-a-year Revenues
HOUSTON, Dec. 1, 2022 /PRNewswire/ — Team 1 Automotive, Inc. (NYSE: GPI) (“Group 1” or the “Corporation”), an global, Fortune 300 automotive retailer with 204 dealerships situated in the U.S. and U.K., now introduced the growth of its U.S. operations with the acquisition of Mercedes-Benz and Sprinter franchises in Anaheim, California. This acquisition expands Group 1’s global partnership with Mercedes-Benz to 17 dealerships in the U.S. and U.K.
Group 1’s Main Govt Officer Earl Hesterberg said, “We want to welcome the workforce at Mercedes-Benz of Anaheim to the Group 1 relatives and are very delighted to broaden our existing functions in Southern California with this fantastic model. Our powerful romance with Mercedes-Benz and encounter in this marketplace area make this dealership an excellent addition to our portfolio.”
Group 1 has now obtained $940 million of yearly revenues in 2022, which follows $2.5 billion of obtained revenues in 2021. The Organization has also continued to manage its well balanced capital allocation method by repurchasing close to 21% of its fantastic shares since November 2021.
ABOUT Group 1 AUTOMOTIVE, INC.
Team 1 owns and operates 204 automotive dealerships, 275 franchises, and 47 collision facilities in the United States and the United Kingdom that give 35 brand names of vehicles. By its dealerships and omni-channel system, the Corporation sells new and applied autos and light-weight vehicles arranges linked automobile funding sells services and coverage contracts gives automotive servicing and fix companies and sells car parts.
Team 1 discloses added data about the Company, its business enterprise, and its results of functions at www.group1corp.com, www.team1auto.com, www.group1collision.com, www.acceleride.com, www.fb.com/group1auto, and www.twitter.com/group1automobile.
This push release consists of “forward-hunting statements” in just the this means of the Personal Securities Litigation Reform Act of 1995, which are statements connected to future, not past, occasions and are centered on our present expectations and assumptions regarding our organization, the economy and other upcoming problems. In this context, the ahead-looking statements frequently consist of statements regarding our strategic investments, goals, programs, projections and direction about our financial place, results of functions and business tactic, including the annualized revenues of a short while ago concluded acquisitions or inclinations and other positive aspects of this sort of now predicted or recently completed acquisitions or inclinations. These ahead-looking statements generally incorporate words this sort of as “expects,” “anticipates,” “intends,” “programs,” “thinks,” “seeks,” “ought to,” “foresee,” “may” or “will” and related expressions. Whilst administration believes that these ahead-looking statements are acceptable as and when designed, there can be no assurance that future developments influencing us will be those people that we foresee. Any this sort of forward-on the lookout statements are not assurances of long term overall performance and require challenges and uncertainties that may cause precise final results to vary materially from those set forth in the statements. These hazards and uncertainties contain, amongst other factors, (a) basic financial and business enterprise ailments, (b) the level of producer incentives, (c) the future regulatory atmosphere, (d) our ability to get an inventory of appealing new and employed motor vehicles, (e) our marriage with our auto manufacturers and the willingness of makers to approve foreseeable future acquisitions, (f) our price of funding and the availability of credit rating for customers, (g) our means to comprehensive acquisitions and tendencies and the risks involved therewith, (h) foreign trade controls and forex fluctuations, (i) the impacts of COVID-19 and the armed conflict in Ukraine on our small business and the source chains on which our enterprise is dependent, (j) the impacts of continued inflation and any opportunity world-wide economic downturn, (k) our potential to sustain sufficient liquidity to operate, (l) the threat that proposed transactions will not be consummated in a well timed method, and (m) our skill to efficiently integrate new and potential acquisitions. For further details concerning recognized material variables that could cause our genuine benefits to differ from our projected final results, make sure you see our filings with the Securities and Trade Fee, such as our Once-a-year Report on Sort 10-K, Quarterly Studies on Type 10-Q and Present-day Stories on Variety 8-K. Viewers are cautioned not to position undue reliance on ahead-searching statements, which discuss only as of the date hereof. We undertake no obligation to publicly update or revise any ahead-searching statements soon after the date they are built, no matter whether as a consequence of new information and facts, future situations or normally.
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Group 1 Automotive, Inc.
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Group 1 Automotive, Inc.
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