Group 1 sees sales drop in Houston, other energy-impacted markets

Houston-based car retailer Group 1 Automotive Inc. saw a dip in its Houston new car sales, which it blamed on the oil slump.

New vehicle sales at Group 1’s (NYSE: GPI) Houston stores dropped 13 percent year over year, according to a first-quarter earnings release. Combined new and used sales dropped 11 percent in Texas and Oklahoma.

“Although we had another strong performance in our U.S. new vehicle margins, a record quarter in the U.K., and a profitable quarter in Brazil, these factors were not…

Group 1 sees sales drop in Houston, other energy-impacted markets syndicated post

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