Group 1, a Fortune 300 automotive retailer with 205 dealerships in the U.S. and U.K., today reported record financial results for the second quarter of 2023, highlighted by all-time record quarterly total revenues of $4.6 billion and total gross profit of $775.5 million.

Current quarter total revenues were the highest in company history, driven by all-time record new vehicle revenues and parts and service revenues of $2.2 billion and $562.0 million, respectively. The record current quarter gross profit outperformed the comparable prior year period, led by an all-time record parts and service gross profit of $304.1 million, a 9.5% increase.

"We continue to see payoffs from our investments in aftersales in both the U.S. and U.K. with another all-time record quarter. In particular in the U.K., our improved customer appointment scheduling combined with an approximate 10.0% increase in technician headcount, created more shop capacity for our valued customers," said Daryl Kenningham, Group 1's President and Chief Executive Officer.