SOURCE: Group 1 Automotive Inc.

Group 1 Automotive Inc.

November 05, 2009 16:05 ET

Group 1 Automotive Acquires BMW Dealership in Mobile, Alabama

HOUSTON, TX--(Marketwire - November 5, 2009) -  Group 1 Automotive, Inc. (NYSE: GPI), a Fortune 500 automotive retailer, today reported it acquired the only BMW franchise in Mobile, Ala. The dealership will operate as BMW of Mobile, under Group 1's Eastern Region, and is expected to generate an estimated $37.7 million in annual revenues. BMW of Mobile is located at 3025 Highway 90 West, approximately three miles from Group 1's existing Pat Peck Nissan dealership.

Including this acquisition, Group 1 now owns and operates 11 BMW dealerships in the United States and three in the United Kingdom.

About Group 1 Automotive, Inc.
Group 1 owns and operates 97 automotive dealerships, 129 franchises, and 24 collision service centers in the United States and the United Kingdom that offer 31 brands of automobiles. Through its dealerships, the company sells new and used cars and light trucks; arranges related financing, vehicle service and insurance contracts; provides maintenance and repair services; and sells replacement parts.

Group 1 Automotive can be reached on the Internet at www.group1auto.com.

This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of manufacturer incentives, (c) the future regulatory environment, (d) our ability to obtain an inventory of desirable new and used vehicles, (e) our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions, (f) our cost of financing and the availability of credit for consumers, (g) our ability to complete acquisitions and dispositions and the risks associated therewith, (h) foreign exchange controls and currency fluctuations, and (i) our ability to retain key personnel. These factors, as well as additional factors that could affect our forward-looking statements, are described in our Form 10-K under the headings "Business -- Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.

 

Contact Information

  • Investor contacts:
    Kim Paper Canning
    Manager, Investor Relations
    Group 1 Automotive Inc.
    713-647-5741
    Email Contact
    or
    John Roper
    Fleishman-Hillard Inc.
    713-513-9505

    Media contacts:
    Pete DeLongchamps
    Vice President, Manufacturer Relations and Public Affairs
    Group 1 Automotive Inc.
    713-647-5770
    Email Contact
    or
    Clint Woods
    Pierpont Communications, Inc.
    713-627-2223