Exhibit 99.1

“I am pleased with Group 1's first-quarter operating results including significant revenue growth and solid expense leverage that delivered record first-quarter earnings,” said Earl J. Hesterberg, Group 1's president and chief executive officer. “We also significantly expanded the scale of our U.K. business and entered the rapidly-growing Brazilian automotive market. This is an exciting time for our company - an unprecedented growth phase which should support strong returns for our shareholders over time.”

Group 1's U.S. revenues were $1.7 billion, an increase of 8.5 percent. The revenue growth was primarily explained by unit sales increases of 7.4 percent in new vehicles and 6.1 percent in retail used vehicles, as well as an increase of 5.3 percent in parts and service revenue. The higher revenue drove gross profit growth of 8.8 percent, reflecting the higher new and used retail volumes, expanded parts and service margins of 100 basis points and a finance and insurance increase of 18.9 percent, or $136, to $1,339 per retail unit, which is another all-time any-quarter record for the company. The gross profit increase was partially offset by a reduction in wholesale used vehicle gross profit per unit.

Group 1's U.K. operations, which include significant acquisitions, accounted for 8.7 percent of total revenues, 6.4 percent of total gross profit and 4.6 percent of the company's adjusted pretax income. Gross profit grew 101.6 percent on 117.9 percent higher revenues of $171.1 million. Revenue growth was primarily driven by 146.5 percent and 102.3 percent increases in new and used vehicle retail unit sales, respectively. The gross profit increase was driven by parts and service growth of 77.2 percent and a finance and insurance increase of 159.0 percent, or $73, to $604 per retail unit, on the higher retail unit sales.

Group 1's Brazilian operations were acquired on Feb. 28. The contribution of approximately one month of results accounted for 3.6 percent of total revenues, 2.8 percent of total gross profit and 1.5 percent of the company's adjusted pretax income. Gross profit was $8.4 million on revenues of $71.0 million. New vehicle sales was the primary revenue contributor at 74.4 percent, while new vehicles and parts and service were the primary gross profit contributors at 52.8 percent and 32.4 percent, respectively.

expectations and assumptions regarding our business, the economy and other future conditions. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should,” “foresee,” “may” or “will” and similar expressions. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause actual results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of manufacturer incentives, (c) the future regulatory environment, (d) our ability to obtain an inventory of desirable new and used vehicles, (e) our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions, (f) our cost of financing and the availability of credit for consumers, (g) our ability to complete acquisitions and dispositions and the risks associated therewith, (h) foreign exchange controls and currency fluctuations, and (i) our ability to retain key personnel. For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.



Group 1 Automotive, Inc.
Consolidated Statements of Operations
(Unaudited)
(In thousands, except per share amounts)

	Three Months Ended March 31,
	2013			2012			% Change
REVENUES:
New vehicle retail sales	$	1,110,235		$	912,595		21.7
Used vehicle retail sales	471,399			414,974			13.6
Used vehicle wholesale sales	74,551			66,857			11.5
Parts and service	237,510			213,101			11.5
Finance and insurance	70,137			57,218			22.6
Total revenues	1,963,832			1,664,745			18.0
COST OF SALES:
New vehicle retail sales	1,047,599			859,775			21.8
Used vehicle retail sales	431,123			378,577			13.9
Used vehicle wholesale sales	72,129			64,153			12.4
Parts and service	112,492			101,816			10.5
Total cost of sales	1,663,343			1,404,321			18.4
GROSS PROFIT	300,489			260,424			15.4
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	233,433			199,112			17.2
DEPRECIATION AND AMORTIZATION EXPENSE	8,413			7,236			16.3
ASSET IMPAIRMENTS	—			101			(100.0	)
OPERATING INCOME	58,643			53,975			8.6
OTHER EXPENSE:
Floorplan interest expense	(9,364		)	(7,619		)	22.9
Other interest expense, net	(9,242		)	(9,040		)	2.2
Other expense, net	(789		)	—			—
INCOME BEFORE INCOME TAXES	39,248			37,316			5.2
PROVISION FOR INCOME TAXES	(17,130		)	(14,199		)	20.6
NET INCOME	$	22,118		$	23,117		(4.3	)
DILUTED INCOME PER SHARE	$	0.88		$	0.97		(9.3	)
Weighted average dilutive common shares outstanding	24,113			22,532			7.0
Weighted average participating securities	1,072			1,209			(11.3	)
Total weighted average shares outstanding	25,185			23,741			6.1



Group 1 Automotive, Inc.
Consolidated Balance Sheets
(Dollars in thousands)
	March 31,			December 31,
	2013			2012			% Change
	(Unaudited)
ASSETS:
CURRENT ASSETS:
Cash and cash equivalents	$	17,729		$	4,650		281.3
Contracts in transit and vehicle receivables, net	190,879			204,396			(6.6	)
Accounts and notes receivable, net	131,662			111,228			18.4
Inventories, net	1,353,120			1,194,288			13.3
Deferred income taxes	19,967			19,750			1.1
Prepaid expenses and other current assets	25,698			31,869			(19.4	)
Total current assets	1,739,055			1,566,181			11.0
PROPERTY AND EQUIPMENT, net	699,940			667,768			4.8
GOODWILL AND INTANGIBLE FRANCHISE RIGHTS	935,918			778,442			20.2
OTHER ASSETS	20,820			10,624			96.0
Total assets	$	3,395,733		$	3,023,015		12.3
LIABILITIES AND STOCKHOLDERS' EQUITY:
CURRENT LIABILITIES:
Floorplan notes payable - credit facility	$	1,004,165		$	968,959		3.6
Offset account related to floorplan notes payable - credit facility	(59,245		)	(112,261		)	(47.2	)
Floorplan notes payable - manufacturer affiliates	288,808			211,965			36.3
Current maturities of long-term debt and short-term financing	37,209			31,358			18.7
Accounts payable	255,336			167,439			52.5
Accrued expenses	136,914			128,118			6.9
Total current liabilities	1,663,187			1,395,578			19.2
2.25% CONVERTIBLE SENIOR NOTES (aggregate principal of $182,753 at March 31, 2013 and December 31, 2012)	154,299			152,363			1.3
3.00% CONVERTIBLE SENIOR NOTES (aggregate principal of $115,000 at March 31, 2013 and December 31, 2012)	81,578			80,706			1.1
MORTGAGE FACILITY, net of current maturities	47,402			53,643			(11.6	)
OTHER REAL ESTATE RELATED AND LONG-TERM DEBT, net of current maturities	227,571			232,285			(2.0	)
CAPITAL LEASE OBLIGATIONS RELATED TO REAL ESTATE, net of current maturities	38,889			36,019			8.0
DEFERRED INCOME TAXES	105,152			94,130			11.7
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES	40,379			43,089			(6.3	)
OTHER LIABILITIES	44,440			42,413			4.8
COMMITMENTS AND CONTINGENCIES
TEMPORARY EQUITY - REDEEMABLE EQUITY PORTION OF THE 3.00% CONVERTIBLE SENIOR NOTES	31,679			32,505			(2.5	)
STOCKHOLDERS' EQUITY:
Common stock	259			258			0.4
Additional paid-in capital	363,511			332,837			9.2
Retained earnings	696,366			677,863			2.7
Accumulated other comprehensive loss	(38,819		)	(33,057		)	17.4
Treasury stock	(60,160		)	(117,617		)	(48.9	)
Total stockholders' equity	961,157			860,284			11.7
Total liabilities and stockholders' equity	$	3,395,733		$	3,023,015		12.3



Group 1 Automotive, Inc.
Additional Information - Consolidated
(Unaudited)

		Three Months Ended
		March 31,
		2013 (%)	2012 (%)
NEW VEHICLE UNIT SALES GEOGRAPHIC MIX:
Region	Geographic Market
East	Massachusetts	6.4	10.6
	New Jersey	4.8	5.1
	Georgia	4.3	3.4
	New York	2.9	3.4
	Louisiana	2.5	2.8
	New Hampshire	2.3	2.8
	Mississippi	1.8	2.2
	South Carolina	1.6	1.7
	Florida	1.4	0.7
	Alabama	0.9	1.1
	Maryland	0.6	0.7
		29.5	34.5

West	Texas	34.2	38.0
	California	13.4	14.6
	Oklahoma	7.4	7.7
	Kansas	2.5	1.1
		57.5	61.4

International	United Kingdom	8.5	4.1
	Brazil	4.5	—
		100.0	100.0
NEW VEHICLE UNIT SALES BRAND MIX:
Toyota/Scion/Lexus		27.6	30.7
Honda/Acura		12.3	10.9
Ford/Lincoln		11.5	10.3
Nissan/Infiniti		10.6	13.1
BMW/MINI		10.3	10.8
Volkswagen/Audi/Porsche		6.9	4.0
GM/Chevrolet/GMC/Buick/Cadillac		5.3	6.2
Mercedes Benz/smart/Sprinter		4.5	4.7
Hyundai/Kia		4.5	2.6
Chrysler/Dodge/Jeep/RAM		4.3	4.5
Other		2.2	2.2
		100.0	100.0



Group 1 Automotive, Inc.
Additional Information - U.S.
(Unaudited)
(Dollars in thousands, except per unit amounts)

	Three Months Ended March 31,
	2013			2012			% Change
REVENUES:
New vehicle retail sales	$	962,633		$	872,989		10.3
Used vehicle retail sales	418,339			392,273			6.6
Used vehicle wholesale sales	57,669			59,418			(2.9	)
Total used	476,008			451,691			5.4
Parts and service	216,354			205,385			5.3
Finance and insurance	66,792			56,154			18.9
Total	$	1,721,787		$	1,586,219		8.5
GROSS MARGIN %:
New vehicle retail sales	5.4			5.7
Used vehicle retail sales	9.0			9.0
Used vehicle wholesale sales	3.7			4.4
Total used	8.3			8.4
Parts and service	53.1			52.1
Finance and insurance	100.0			100.0
Total	15.9			15.8
GROSS PROFIT:
New vehicle retail sales	$	51,582		$	49,766		3.6
Used vehicle retail sales	37,619			35,336			6.5
Used vehicle wholesale sales	2,125			2,600			(18.3	)
Total used	39,744			37,936			4.8
Parts and service	114,823			107,061			7.3
Finance and insurance	66,793			56,154			18.9
Total	$	272,942		$	250,917		8.8
UNITS SOLD:
Retail new vehicles sold	28,778			26,783			7.4
Retail used vehicles sold	21,116			19,895			6.1
Wholesale used vehicles sold	9,657			9,304			3.8
Total used	30,773			29,199			5.4
AVERAGE RETAIL SALES PRICE:
New vehicle retail	$	33,450		$	32,595		2.6
Used vehicle retail	$	19,811		$	19,717		0.5
GROSS PROFIT PER UNIT SOLD:
New vehicle retail sales	$	1,792		$	1,858		(3.6	)
Used vehicle retail sales	1,782			1,776			0.3
Used vehicle wholesale sales	220			279			(21.1	)
Total used	1,292			1,299			(0.5	)
Finance and insurance (per retail unit)	$	1,339		$	1,203		11.3
OTHER: ⁽¹⁾
SG&A expenses	$	204,091		$	191,578		6.5
SG&A as % revenues	11.9			12.1
SG&A as % gross profit	74.8			76.4
Operating margin %	3.6			3.3
Pretax margin %	2.6			2.3
INTEREST EXPENSE:
Floorplan interest	$	8,296		$	7,482		10.9
Floorplan assistance	(8,173		)	(7,414		)	10.2
Net floorplan expense	$	123		$	68		80.9
Other interest expense, net	$	9,041		$	8,919		1.4

⁽¹⁾ These amounts have been adjusted to exclude the impact of certain items to provide additional information regarding the performance of our operations and improve period-to-period comparability. Refer to our Reconciliation of Certain Non-GAAP Financial Measures for a description of the aforementioned adjustments.



Group 1 Automotive, Inc.
Additional Information - U.K.
(Unaudited)
(Dollars in thousands, except per unit amounts)

	Three Months Ended March 31,
	2013		2012		% Change
REVENUES:
New vehicle retail sales	$	94,824	$	39,607	139.4
Used vehicle retail sales	44,965		22,701		98.1
Used vehicle wholesale sales	13,765		7,439		85.0
Total used	58,730		30,140		94.9
Parts and service	14,771		7,716		91.4
Finance and insurance	2,753		1,063		159.0
Total	$	171,078	$	78,526	117.9
GROSS MARGIN %:
New vehicle retail sales	7.0		7.7
Used vehicle retail sales	4.9		4.7
Used vehicle wholesale sales	0.6		1.4
Total used	3.9		3.9
Parts and service	50.7		54.7
Finance and insurance	100.0		100.0
Total	11.2		12.1
GROSS PROFIT:
New vehicle retail sales	$	6,632	$	3,056	117.0
Used vehicle retail sales	2,217		1,061		109.0
Used vehicle wholesale sales	84		103		(18.4	)
Total used	2,301		1,164		97.7
Parts and service	7,484		4,224		77.2
Finance and insurance	2,753		1,063		159.0
Total	$	19,170	$	9,507	101.6
UNITS SOLD:
Retail new vehicles sold	2,827		1,147		146.5
Retail used vehicles sold	1,728		854		102.3
Wholesale used vehicles sold	1,443		690		109.1
Total used	3,171		1,544		105.4
AVERAGE RETAIL SALES PRICE:
New vehicle retail	$	33,542	$	34,531	(2.9	)
Used vehicle retail	$	26,021	$	26,582	(2.1	)
GROSS PROFIT PER UNIT SOLD:
New vehicle retail sales	$	2,346	$	2,664	(11.9	)
Used vehicle retail sales	1,283		1,242		3.3
Used vehicle wholesale sales	58		149		(61.1	)
Total used	726		754		(3.7	)
Finance and insurance (per retail unit)	$	604	$	531	13.7
OTHER: ⁽¹⁾
SG&A expenses	$	15,894	$	7,534	111.0
SG&A as % revenues	9.3		9.6
SG&A as % gross profit	82.9		79.2
Operating margin %	1.6		1.9
Pretax margin %	1.3		1.6
INTEREST EXPENSE:
Floorplan interest	$	306	$	137	123.4
Floorplan assistance	—		$	—	—
Net floorplan expense	$	306	$	137	123.4
Other interest expense, net	$	213	$	121	76.0



Group 1 Automotive, Inc.
Additional Information - Brazil
(Unaudited)
(Dollars in thousands, except per unit amounts)

	Three Months Ended March 31, 2013
REVENUES:
New vehicle retail sales	$	52,778
Used vehicle retail sales	8,095
Used vehicle wholesale sales	3,117
Total used	11,212
Parts and service	6,385
Finance and insurance	592
Total	$	70,967
GROSS MARGIN %:
New vehicle retail sales	8.4
Used vehicle retail sales	5.4
Used vehicle wholesale sales	6.8
Total used	5.8
Parts and service	42.4
Finance and insurance	100.0
Total	11.8
GROSS PROFIT:
New vehicle retail sales	$	4,422
Used vehicle retail sales	440
Used vehicle wholesale sales	212
Total used	652
Parts and service	2,710
Finance and insurance	592
Total	$	8,376
UNITS SOLD:
Retail new vehicles sold	1,491
Retail used vehicles sold	394
Wholesale used vehicles sold	235
Total used	629
AVERAGE RETAIL SALES PRICE:
New vehicle retail	$	35,398
Used vehicle retail	$	20,546
GROSS PROFIT PER UNIT SOLD:
New vehicle retail sales	$	2,966
Used vehicle retail sales	1,117
Used vehicle wholesale sales	902
Total used	1,037
Finance and insurance (per retail unit)	$	314
OTHER: ⁽¹⁾
SG&A expenses	$	6,702
SG&A as % revenues	9.4
SG&A as % gross profit	80.0
Operating margin %	2.0
Pretax margin %	1.0
INTEREST EXPENSE:
Floorplan interest	$	762
Floorplan assistance	—
Net floorplan expense	$	762
Other interest expense, net	$	(12	)



Group 1 Automotive, Inc.
Additional Information - Consolidated
(Unaudited)
(Dollars in thousands, except per unit amounts)

	Three Months Ended March 31,
	2013			2012			% Change
REVENUES:
New vehicle retail sales	$	1,110,235		$	912,595		21.7
Used vehicle retail sales	471,399			414,974			13.6
Used vehicle wholesale sales	74,551			66,857			11.5
Total used	545,950			481,831			13.3
Parts and service	237,510			213,101			11.5
Finance and insurance	70,137			57,218			22.6
Total	$	1,963,832		$	1,664,745		18.0
GROSS MARGIN %:
New vehicle retail sales	5.6			5.8
Used vehicle retail sales	8.5			8.8
Used vehicle wholesale sales	3.2			4.0
Total used	7.8			8.1
Parts and service	52.6			52.2
Finance and insurance	100.0			100.0
Total	15.3			15.6
GROSS PROFIT:
New vehicle retail sales	$	62,636		$	52,820		18.6
Used vehicle retail sales	40,276			36,397			10.7
Used vehicle wholesale sales	2,422			2,704			(10.4	)
Total used	42,698			39,101			9.2
Parts and service	125,018			111,285			12.3
Finance and insurance	70,137			57,218			22.6
Total	$	300,489		$	260,424		15.4
UNITS SOLD:
Retail new vehicles sold	33,096			27,930			18.5
Retail used vehicles sold	23,238			20,749			12.0
Wholesale used vehicles sold	11,335			9,994			13.4
Total used	34,573			30,743			12.5
AVERAGE RETAIL SALES PRICE:
New vehicle retail	$	33,546		$	32,674		2.7
Used vehicle retail	$	20,286		$	20,000		1.4
GROSS PROFIT PER UNIT SOLD:
New vehicle retail sales	$	1,893		$	1,891		0.1
Used vehicle retail sales	1,733			1,754			(1.2	)
Used vehicle wholesale sales	214			271			(21.0	)
Total used	1,235			1,272			(2.9	)
Finance and insurance (per retail unit)	$	1,245		$	1,175		6.0
OTHER: ⁽¹⁾
SG&A expenses	$	226,687		$	199,112		13.8
SG&A as % revenues	11.5			12.0
SG&A as % gross profit	75.4			76.5
Operating margin %	3.3			3.2
Pretax margin %	2.4			2.2
INTEREST EXPENSE:
Floorplan interest	$	9,364		$	7,619		22.9
Floorplan assistance	(8,173		)	(7,414		)	10.2
Net floorplan expense	$	1,191		$	205		481.0
Other interest expense, net	$	9,242		$	9,040		2.2



Group 1 Automotive, Inc.
Additional Information - Same Store⁽¹⁾
(Unaudited)
(Dollars in thousands, except per unit amounts)

	Three Months Ended March 31,
	2013		2012		% Change
REVENUES:
New vehicle retail sales	$	967,330	$	889,162	8.8
Used vehicle retail sales	420,466		404,965		3.8
Used vehicle wholesale sales	62,157		64,390		(3.5	)
Total used	482,623		469,355		2.8
Parts and service	219,641		208,427		5.4
Finance and insurance	65,464		56,089		16.7
Total	$	1,735,058	$	1,623,033	6.9
GROSS MARGIN %:
New vehicle retail sales	5.4		5.8
Used vehicle retail sales	8.6		8.8
Used vehicle wholesale sales	3.5		4.1
Total used	8.0		8.2
Parts and service	52.8		52.2
Finance and insurance	100.0		100.0
Total	15.7		15.7
GROSS PROFIT:
New vehicle retail sales	$	52,281	$	51,563	1.4
Used vehicle retail sales	36,291		35,613		1.9
Used vehicle wholesale sales	2,175		2,666		(18.4	)
Total used	38,466		38,279		0.5
Parts and service	115,991		108,796		6.6
Finance and insurance	65,464		56,089		16.7
Total	$	272,202	$	254,727	6.9
UNITS SOLD:
Retail new vehicles sold	28,635		27,076		5.8
Retail used vehicles sold	20,670		20,193		2.4
Wholesale used vehicles sold	9,753		9,518		2.5
Total used	30,423		29,711		2.4
AVERAGE RETAIL SALES PRICE:
New vehicle retail	$	33,781	$	32,839	2.9
Used vehicle retail	$	20,342	$	20,055	1.4
GROSS PROFIT PER UNIT SOLD:
New vehicle retail sales	$	1,826	$	1,904	(4.1	)
Used vehicle retail sales	1,756		1,764		(0.5	)
Used vehicle wholesale sales	223		280		(20.4	)
Total used	1,264		1,288		(1.9	)
Finance and insurance (per retail unit)	$	1,328	$	1,187	11.9
OTHER: ⁽²⁾
SG&A expenses	$	203,401	$	193,495	5.1
SG&A as % revenues	11.7		11.9
SG&A as % gross profit	74.7		76.0
Operating Margin %	3.5		3.3



Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures - U.S.
(Unaudited)
(Dollars in thousands, except per share amounts)

		Three Months Ended March 31,
		2013			2012		% Change
SG&A RECONCILIATION:
	As reported	$	209,484		$	191,578	9.3
	Pre-tax adjustments:
	Acquisition Costs	(5,159		)
	Catastrophic Events	(808		)
	Gain on dealership disposition	574
	Adjusted SG&A ⁽¹⁾	$	204,091		$	191,578	6.5
SG&A AS % REVENUES:
	Unadjusted	12.2			12.1
	Adjusted ⁽¹⁾	11.9			12.1
SG&A AS % GROSS PROFIT:
	Unadjusted	76.8			76.4
	Adjusted ⁽¹⁾	74.8			76.4
OPERATING MARGIN %:
	Unadjusted	3.2			3.3
	Adjusted ^(1),(2)	3.6			3.3
PRETAX MARGIN %:
	Unadjusted	2.2			2.3
	Adjusted ^(1),(2)	2.6			2.3

⁽¹⁾We have included certain non-GAAP financial measures as defined under SEC rules, which exclude certain items. These adjusted measures are not measures of financial performance under GAAP. As required by SEC rules, we provide reconciliations of these adjusted measures to the most directly comparable GAAP measures. We believe that these adjusted financial measures are relevant and useful to investors because they improve the transparency of our disclosure, provide a meaningful presentation of results from our core business operations and improve period-to-period comparability of our results from our core business operations.



Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures - U.K.
(Unaudited)
(Dollars in thousands, except per share amounts)

		Three Months Ended March 31,
		2013			2012		% Change
SG&A RECONCILIATION:
	As reported	$	16,036		$	7,534	112.8
	Pre-tax adjustments:
	Acquisition Costs	(142		)
	Adjusted SG&A ⁽¹⁾	$	15,894		$	7,534	111.0
SG&A AS % REVENUES:
	Unadjusted	9.4			9.6
	Adjusted ⁽¹⁾	9.3			9.6
SG&A AS % GROSS PROFIT:
	Unadjusted	83.7			79.2
	Adjusted ⁽¹⁾	82.9			79.2
OPERATING MARGIN %:
	Unadjusted	1.5			1.9
	Adjusted ^(1),(2)	1.6			1.9
PRETAX MARGIN %:
	Unadjusted	1.2			1.6
	Adjusted ^(1),(2)	1.3			1.6



Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures - Brazil
(Unaudited)
(Dollars in thousands, except per share amounts)

		Three Months Ended March 31, 2013
SG&A RECONCILIATION:
	As reported	$	7,913
	Pre-tax adjustments:
	Acquisition Costs	(1,211		)
	Adjusted SG&A ⁽¹⁾	$	6,702
SG&A AS % REVENUES:
	Unadjusted	11.2
	Adjusted ⁽¹⁾	9.4
SG&A AS % GROSS PROFIT:
	Unadjusted	94.5
	Adjusted ⁽¹⁾	80.0
OPERATING MARGIN %:
	Unadjusted	0.3
	Adjusted ^(1),(2)	2.0
PRETAX MARGIN %:
	Unadjusted	(1.8		)
	Adjusted ^(1),(3)	1.0



Group 1 Automotive, Inc.
Reconciliation of Certain Non-GAAP Financial Measures - Consolidated
(Unaudited)
(Dollars in thousands, except per share amounts)

		Three Months Ended March 31,
		2013			2012		% Change
NET INCOME RECONCILIATION:
	As reported	$	22,118		$	23,117	(4.3	)
	After-tax adjustments:
	Acquisition Costs ⁽²⁾	4,639			—
	Income tax effect of non-deductible acquisition costs	2,329			—
	Catastrophic Events ⁽³⁾	504			—
	Gain on dealership disposition ⁽⁴⁾	(356		)	—
	Adjusted net income ⁽¹⁾	$	29,234		$	23,117	26.5
ADJUSTED NET INCOME ATTRIBUTABLE TO DILUTED COMMON SHARES RECONCILIATION
	Adjusted net income	$	29,234		$	23,117	26.5
	Less: Adjusted earnings allocated to participating securities	1,233			1,165		5.8
	Adjusted net income available to diluted common shares	$	28,001		$	21,952	27.6
DILUTED INCOME PER COMMON SHARE RECONCILIATION:
	As reported	$	0.88		$	0.97	(9.3	)
	After-tax adjustments:
	Acquisition Costs	0.18			—
	Income tax effect of non-deductible acquisition costs	0.09
	Catastrophic Events	0.02			—
	Gain on dealership disposition	(0.01		)	—
	Adjusted diluted income per share ⁽¹⁾	$	1.16		$	0.97	19.6
SG&A RECONCILIATION:
	As reported	$	233,433		$	199,112	17.2
	Pre-tax adjustments:
	Acquisition Costs	(6,512		)	—
	Catastrophic Events	(808		)	—
	Gain on dealership disposition	574			—
	Adjusted SG&A ⁽¹⁾	$	226,687		$	199,112	13.8
SG&A AS % REVENUES:
	Unadjusted	11.9			12.0
	Adjusted ⁽¹⁾	11.5			12.0
SG&A AS % GROSS PROFIT:
	Unadjusted	77.7			76.5
	Adjusted ⁽¹⁾	75.4			76.5
OPERATING MARGIN %:
	Unadjusted	3.0			3.2
	Adjusted ^(1),(5)	3.3			3.2
PRETAX MARGIN %:
	Unadjusted	2.0			2.2
	Adjusted ^(1),(7)	2.4			2.2


•	Total gross profit grew 15.4 percent on 18.0 percent higher revenues of $2.0 billion.


•	New vehicle revenue increased 21.7 percent reflecting 18.5 percent higher unit sales, as same-store new vehicle unit sales grew 5.8 percent.


•	Used vehicle retail revenue increased 13.6 percent reflecting 12 percent higher used retail unit sales.


•	Selling, general and administrative (SG&A) expenses as a percent of gross profit improved 110 basis points, to 75.4 percent, with a same-store improvement of 130 basis points, to 74.7 percent.


•	Operating margin expanded 10 basis points to 3.3 percent, with a same-store operating margin expansion of 20 basis points to 3.5 percent.


•	Diluted earnings per common share increased 19.6 percent, to $1.16, on 26.5 percent higher net income of $29.2 million, both record first-quarter results for the company.



SAME STORE SG&A RECONCILIATION:
	As reported	$	209,510		$	193,495	8.3
	Pre-tax adjustments:
	Acquisition Costs	(5,301		)	—
	Catastrophic Events	(808		)	—
	Adjusted Same Store SG&A ⁽¹⁾	$	203,401		$	193,495	5.1
SAME STORE SG&A AS % REVENUES:
	Unadjusted	12.1			11.9
	Adjusted⁽¹⁾	11.7			11.9
SAME STORE SG&A AS % GROSS PROFIT:
	Unadjusted	77.0			76.0
	Adjusted⁽¹⁾	74.7			76.0
SAME STORE OPERATING MARGIN %:
	Unadjusted	3.2			3.3
	Adjusted^(1),(6)	3.5			3.3