Group 1 (GPI) Q2 Earnings Beat Expectations, Decline Y/Y

Quarter Highlights Used-vehicle retail sales rose 0.2% from the year-ago period to $1.45 billion but missed our forecast of$1.47 billion. Total retail used vehicles sold were 49,260 units, up 5.3% year over year, exceeding our expectation of 47,621 units. The average selling price per unit came in at $29,501, down 4.9$80.7 million, rising 2.4% year over year. Segments in Detail In the second quarter, revenues rose 2.1% year over year to $775.2 million fo ...