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GPI2004AR
Group 1 Automotive is a leading automotive retailer that owns 96 dealerships across the United States. In 2004, Group 1 achieved record revenues of $5.4 billion, up 20% from the previous year primarily due to acquisitions. However, the company faced challenges from a slowly recovering economy and increased competition that reduced margins. While remaining profitable, Group 1's financial results fell short of expectations. The company took impairment charges totaling $44.7 million related to underperformance at some locations. Group 1 continued growing through acquisitions and investments in existing dealerships to diversify its brand and geographic presence.
