HOUSTON -

The used-car department played a critical role in Group 1’s full-year performance as officials said today that 2012 proved to be the year the company posted increases in all operating segments and new all-time records in total gross profit and revenue.

Group 1 turned 21.1 percent more used models a year ago, retailing 85,366 units. The company also wholesaled more used vehicles in 2012 than the previous year. Group 1 moved 43,759 units through its wholesale channels, 21.6 percent above the previous year’s level of 35,997 units.

And as the industry is seeing gross profit margins on those units get pinched, the dealer group managed to squeak out a marginal fourth-quarter increase in gross profit per used vehicle sold, generating $1,637 per transaction and representing a 0.3 percent uptick from the 2011 fourth quarter.

As a result of that activity, officials calculated that Group 1’s full-year adjusted net income increased 25.8 percent to a record $108.2 million and adjusted diluted earnings per common share were an all-time high of $4.53.

The company also highlighted total gross profit grew 16.3 percent on 23.0 percent higher revenues of $7.5 billion, representing increases in all operating segments and new all-time records.

“Overall, 2012 was a great year for Group 1 Automotive with total revenue growth of 23 percent and all-time record net income and earnings per diluted share,” Group 1 president and chief executive officer Earl Hesterberg said in a press release before the company was to conduct a conference call with investment analysts.

“Despite continuing the strong growth pace in the fourth quarter with 19 percent revenue growth, we missed some opportunities to maximize profits via complete leveraging of our cost structure,” he continued.

“We began taking actions in this regard on Jan. 1, and I am confident that we can return to the type of cost leverage we generated in the first three quarters of the year,” he added.

“I believe 2013 will be another great year for the industry as a whole and Group 1 Automotive in particular,” Hesterberg concluded.

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