Group 1 Automotive Q1: Revenue jumps, net income drops

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Group 1 noted a 14 percent rise in parts-and-service gross profits, and Kenningham said the retailer’s ongoing investments in technician hiring and technology innovation helped.

“We continue to invest in after-sales and believe parts and service will be a strength through the rest of 2023,” he said. “We retain two-thirds of our customers, [and] we feel like we can do a better job of retaining more of them. When you consider the amount of work that our customers still elect to…

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