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Group 1 F&I revenue down 10.1%, plans to buy 10 dealerships for $1.3B

Sonic Automotive reported YoY F&I revenue, vehicle sales increases

Aidan Bush

Group 1 Automotive announced it would purchase 10 dealerships from Hennessey Automobile Co. today, and reported declines in finance and insurance revenue and vehicle sales in the second quarter. The $1.3 billion acquisition, which includes 500 service bays and 280 technicians alongside the dealerships, will be financed with long-term debt, Chief Financial Officer and U.K. […]

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