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Exhibit 99.1 GROUP 1 AUTOMOTIVE® FOR IMMEDIATE RELEASE Group 1 Automotive Announces Record Second Quarter 2021 Financial Results • Service Rebound , UK Market Recovery , and Strong Cost Control Drive Impressive Results • U.S. Same Store Total Used Vehicle Gross Profit Increased 119 % YOY HOUSTON , TX , July 29 , 2021 - Group 1 Automotive , Inc. ( NYSE : GPI ) , ( “ Group 1 " or the " Company " ) , an international , Fortune 500 automotive retailer , today reported record second quarter 2021 financial results . Second quarter 2021 net income per diluted share was an all - time quarterly record of $ 10.35 , a 533.9 percent increase from $ 1.63 per diluted share as reported for second quarter 2020. Second quarter 2021 adjusted net income per diluted share ( a non - GAAP measure ) was $ 10.31 , a 173.6 percent increase from $ 3.77 per diluted share as reported for second quarter 2020. Second quarter 2021 net income was $ 191.0 million , a 532.9 percent increase compared to net income of $ 30.2 million in the same period of 2020. Second quarter 2021 adjusted net income ( a non - GAAP measure ) was $ 190.2 million , a 173.2 percent increase compared to adjusted net income of $ 69.6 million for the same period of 2020. The Company's second quarter 2021 total revenues were $ 3.7 billion , a 73.6 percent increase compared to total revenues of $ 2.1 billion in the same period of 2020 . Second quarter 2021 adjusted net income and diluted earnings per share excluded net after - tax adjustments totaling $ 0.8 million , or $ 0.04 per common share . The adjustments consist of gains on dealership and real estate transactions and a tax benefit related to the revaluation of deferred tax items in the U.K. , partially offset by a non - cash loss associated with certain interest rate swaps due to decreased vehicle inventory levels . Second quarter 2020 adjusted net income and diluted earnings per share excluded net after - tax adjustments of $ 39.4 million , or $ 2.13 per share , primarily related to non - cash asset impairment charges , out - of - period adjustments to accelerate stock - based compensation expense , loss on debt extinguishment and severance costs . Reconciliations of non - GAAP financial measures are included in the attached financial tables . Certain disclosures may not compute due to rounding . " Although the new vehicle supply disruption continues to impact our vehicle sales volume in all three of our markets , our operating teams continue to navigate this challenge with great success , " said Earl J. Hesterberg , Group 1's President and Chief Executive Officer . “ Our aftersales business is recovering extremely well , and our cost control has been outstanding . " Consolidated Operating Highlights for Second Quarter 2021 ( year - over - year comparable basis ) Reported : • Total revenues increased 73.6 percent , to $ 3.7 billion . Total gross profit increased 84.3 percent , to $ 661.3 million . • New vehicle revenues increased 74.6 percent , as units sold increased 62.0 percent . New vehicle gross profit per retail unit ( PRU ) increased 59.9 percent , to $ 3,853 . Used vehicle retail revenues increased 86.5 percent , as units increased 47.4 percent . Used vehicle retail gross profit PRU increased 59.9 percent , to $ 2,425 . • Parts and service gross profit increased 44.5 percent , on a 39.1 percent increase in revenue . • • Finance and Insurance ( F & I ) gross profit PRU increased 8.0 percent , to $ 1,832 . Selling , General and Administrative ( SG & A ) expenses as a percentage of gross profit decreased 913 basis points , to 57.0 percent . Adjusted SG & A expenses ( a non - GAAP measure ) as a percentage of gross profit decreased 573 basis points , to 57.1 percent . Same Store on a Constant Currency Basis ( a non - GAAP measure ) : • Total revenues increased 70.6 percent . Total gross profit increased 81.6 percent . 1