Group 1 weathers used-car challenges, sees slight gain

Quick action by Group 1 Automotive enabled it to show a slight annual increase in U.S. same-store used retail units sold in the third quarter despite turmoil in the used-car market, said outgoing CEO Earl Hesterberg on the third-quarter earnings call.

“One of the challenges we faced in the US in the quarter was a decline in industry used-vehicle price levels. This required quick action by our team to rapidly sell through our existing inventories so we could …

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