Friday, Oct. 28, 2022, 10:45 AM
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 …