Exhibit 99.1

FOR IMMEDIATE RELEASE

GROUP 1 AUTOMOTIVE’S STRONG NEW VEHICLE SALES DRIVE 25 PERCENT FOURTH-QUARTER REVENUE GROWTH

FULL-YEAR NEW VEHICLE SALES GROW 17 PERCENT — NEARLY TRIPLE THE INDUSTRY GROWTH RATE

HOUSTON, Feb. 10, 2011 — Group 1 Automotive, Inc. (NYSE: GPI), a Fortune 500 automotive retailer, today reported a 2010 fourth-quarter adjusted net income increase of 43.4 percent to $14.7 million, or $0.64 per diluted share, for the quarter ended Dec. 31. Full-year 2010 adjusted net income increased 49.0 percent to $62.2 million, or $2.67 per diluted share.

On a GAAP basis (see attached reconciliation for reported adjustments), including $4.1 million of net after-tax adjustments, fourth-quarter net income was $10.6 million, or $0.46 per diluted share, and, including $11.9 million of net after-tax adjustments, full-year net income was $50.3 million, or $2.16 per diluted share.

Total company revenues for the quarter increased 25.0 percent to $1.4 billion. The revenue growth was primarily driven by a 24.2 percent increase in retail unit sales. Finance and insurance revenues grew 29.3 percent on the higher retail units sold and increased penetration rates. In addition, the parts and service business continued to show exceptional growth, as revenues expanded 9.1 percent from the prior-year period.

Fourth-Quarter Operating Highlights

•

New vehicle revenues increased 26.3 percent on a 25.4 percent increase in unit sales, outpacing industry retail unit sales growth of 16.4 percent.

•

Used vehicle revenues were 31.1 percent higher, reflecting 22.4 percent and 34.0 percent increases in used retail and wholesale units sold, respectively.

•

Gross profit increased 14.2 percent, to $217.0 million, on 12.3 percent and 19.3 percent growth in retail new and used vehicle profits, respectively.

•

Parts and service gross profit expanded 7.5 percent on the 9.1 percent higher revenues.

•

Finance and insurance gross profit per retail unit grew 4.1 percent to $1,075.

•

Selling, general and administrative (SG&A) expenses as a percent of gross profit improved 190 basis points, to 78.7 percent from the prior-year period.

“We were very pleased with our strong sales performance to close 2010,” said Earl J. Hesterberg, Group 1’s president and chief executive officer. “Our sales increases in new and used vehicles were far above industry average, and our parts and service growth of more than 9 percent is the culmination of several years of focus and investment in this part of our business.”

Full-Year Highlights

•

Total revenues grew 21.7 percent, to $5.5 billion.

•

New vehicle revenues increased 21.4 percent on 17.2 percent higher unit sales, nearly tripling the industry’s 6.3 percent retail sales increase.

•

Total used vehicle revenues grew 32.3 percent, as the company retailed 22.1 percent and wholesaled 20.6 percent more vehicles.

•

Parts and service revenues increased 6.2 percent, demonstrating Group 1’s focus on improving processes in this segment of the business.

Group 1 Automotive, Inc.

•

Total gross profit expanded 13.0 percent, to $877.0 million, reflecting profit growth in all segments.

•

Adjusted selling, general and administrative expenses grew at a slower pace than gross profit, resulting in a 140 basis-point improvement, to 78.6 percent.

“In 2009, Group 1’s corporate priorities were cash preservation and cost reduction,” said Hesterberg. “We executed a cost reduction plan that reduced our SG&A expense structure by nearly $120 million. Group 1’s goal in 2010 was to leverage that lean cost structure with a concentrated sales effort. The total revenue increase of almost 22 percent for the year indicates that we were highly successful. Most gratifying is that we demonstrated significant growth in all sales segments, highlighted by the 32 percent increase in used vehicle revenues. Relative to new vehicle sales, we far outpaced the national average performance for most brands we sell with Chevrolet up 31 percent, Nissan up 29 percent, Ford up 27 percent, as well as Toyota, where we were up 12 percent versus Toyota’s near-flat national sales results.”

Balance Sheet

New vehicle inventory increased $34.4 million from Sept. 30, to $572.0 million as of Dec. 31. The company ended the quarter with immediately available funds of $149.0 million and available liquidity of $382.7 million.

As previously announced in January, Group 1 successfully restructured its mortgage facility and entered into new five- to seven-year term loan agreements of approximately $188.6 million. The agreements may be expanded, allowing the company to manage its real estate portfolio with favorable rates as it grows the company.

In addition, Group 1 previously announced that several of its interest-rate swap contracts expired in December, and that the net effect of these expired contracts and the restructured mortgage agreements are estimated to reduce pretax interest expense by approximately $3.8 million in 2011.

Corporate Development Update

During the fourth quarter, Group 1 terminated eight domestic franchises that included Mercury and Pontiac franchises related to the brand discontinuations by the respective manufacturers.

For the full year, Group 1 acquired 10 franchises with total estimated annual revenues of $256.2 million and disposed of 11 franchises with trailing-12-month revenues of $83.1 million in 2010.

Fourth-Quarter Earnings Conference Call

Group 1’s senior management will host a conference call today at 10 a.m. ET to discuss the fourth-quarter financial results and the company’s outlook and strategy.

The conference call will be simulcast live on the Internet at www.group1auto.com, then click on ‘Investor Relations’ and then ‘Events’ or through this link: http://www.group1corp.com/news/events.aspx. A replay will be available for 30 days.

The conference call will also be available live by dialing in 10 minutes prior to the start of the call at:

Domestic: 888.401.4669
International: 719.325.2218
Participant Passcode: 6818164

A telephonic replay will be available following the call through Feb. 17 by dialing:

Domestic: 888.203.1112

Group 1 Automotive, Inc.

International: 719.457.0820
Replay Passcode: 6818164

About Group 1 Automotive, Inc.

Group 1 owns and operates 100 automotive dealerships, 129 franchises, and 25 collision service centers in the United States and the United Kingdom that offer 30 brands of automobiles. Through its dealerships, the company sells new and used cars and light trucks; arranges related financing, vehicle service and insurance contracts; provides maintenance and repair services; and sells replacement parts.

Group 1 Automotive can be reached on the Internet at www.group1auto.com.

This press release contains “forward-looking statements,” which are statements related to future, not past, events and are based on our current 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,” “may” or “will” and similar expressions. 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. These factors, as well as additional factors that could affect our forward-looking statements, are described in our Form 10-K under the headings “Business—Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook, whether as a result of new information, future developments or otherwise, except as may be required by law.

SOURCE: Group 1 Automotive, Inc.

Investor contacts:

Kim Paper Canning, Manager, Investor Relations | Group 1 Automotive Inc. | 713-647-5741 | kpaper@group1auto.com

Media contacts:

Pete DeLongchamps, Vice President, Manufacturer Relations and Public Affairs | Group 1 Automotive Inc. | 713-647-5770
| pdelongchamps@group1auto.com
or
Clint Woods, Pierpont Communications, Inc. | 713-627-2223 | cwoods@piercom.com

Group 1 Automotive, Inc.

		Three Months Ended December 31,													Twelve Months Ended December 31,
		2010				2009				% Change					2010				2009				% Change
REVENUES:
New vehicle retail sales		$	832,714			$	659,058				26.3	%			$	3,086,807			$	2,543,031				21.4	%
Used vehicle retail sales			310,663				241,269				28.8					1,271,039				970,614				31.0
Used vehicle wholesale sales			58,877				40,532				45.3					215,530				153,068				40.8
Parts and service			191,242				175,341				9.1					767,004				722,565				6.2
Finance and insurance			44,256				34,216				29.3					168,789				136,429				23.7
Total revenues			1,437,752				1,150,416				25.0					5,509,169				4,525,707				21.7
COST OF SALES:
New vehicle retail sales			786,479				617,897				27.3					2,909,012				2,388,797				21.8
Used vehicle retail sales			285,212				219,940				29.7					1,156,035				872,580				32.5
Used vehicle wholesale sales			59,268				41,559				42.6					212,833				150,764				41.2
Parts and service			89,772				80,973				10.9					354,256				337,729				4.9
Total cost of sales			1,220,731				960,369				27.1					4,632,136				3,749,870				23.5
GROSS PROFIT			217,021				190,047				14.2					877,033				775,837				13.0
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES			170,839				154,235				10.8					693,635				621,048				11.7
DEPRECIATION AND AMORTIZATION EXPENSE			6,519				6,287				3.7					26,455				25,828				2.4
ASSET IMPAIRMENTS			7,719				18,050				(57.2	)				10,840				20,887				(48.1	)
OPERATING INCOME			31,944				11,475				178.4					146,103				108,074				35.2
OTHER INCOME (EXPENSE):
Floorplan interest expense			(8,890	)			(8,003	)			11.1					(34,110	)			(32,345	)			5.5
Other interest expense, net			(6,952	)			(7,218	)			(3.7	)				(27,217	)			(29,075	)			(6.4	)
Gain (loss) on redemption of long-term debt			—				—				—					(3,872	)			8,211				(147.2	)
Other expense, net			—				(8	)			(100.0	)				—				(14	)			(100.0	)
INCOME (LOSS) BEFORE INCOME TAXES			16,102				(3,754	)			528.9					80,904				54,851				47.5
INCOME TAX (PROVISION) BENEFIT			(5,533	)			1,802				(407.0	)				(30,600	)			(20,006	)			53.0
NET INCOME (LOSS)		$	10,569			$	(1,952	)			641.4	%			$	50,304			$	34,845				44.4	%
DILUTED INCOME (LOSS) PER SHARE		$	0.46			$	(0.08	)			675.0	%			$	2.16			$	1.49				45.0	%
Weighted average diluted shares outstanding			23,027				23,577				(2.3)	%				23,317				23,325				(0.0)	%

Group 1 Automotive, Inc.

		December 31,				December 31,
		2010				2009				% Change
		(Unaudited)
ASSETS:
CURRENT ASSETS:
Cash and cash equivalents		$	19,843			$	13,221				50.1	%
Contracts in transit and vehicle receivables, net			113,846				86,500				31.6
Accounts and notes receivable, net			75,623				62,496				21.0
Inventories			777,771				596,743				30.3
Deferred income taxes			14,819				14,653				1.1
Prepaid expenses and other current assets			17,332				48,425				(64.2	)
Total current assets			1,019,234				822,038				24.0
PROPERTY AND EQUIPMENT, net			506,288				475,828				6.4
GOODWILL AND INTANGIBLE FRANCHISE RIGHTS			666,656				658,281				1.3
OTHER ASSETS			9,786				13,267				(26.2	)
Total assets		$	2,201,964			$	1,969,414				11.8	%
LIABILITIES AND STOCKHOLDERS’ EQUITY:
CURRENT LIABILITIES:
Floorplan notes payable — credit facility		$	690,051			$	491,892				40.3	%
Offset account related to floorplan notes payable — credit facility			(129,211	)			(71,573	)			80.5
Floorplan notes payable — manufacturer affiliates			103,345				115,180				(10.3	)
Current maturities of mortgage facility			42,600				10,511				305.3
Current maturities of long-term debt			10,589				3,844				175.5
Current liabilities from interest rate risk management activities			1,098				10,412				(89.5	)
Accounts payable			92,799				72,276				28.4
Accrued expenses			83,663				86,271				(3.0	)
Total current liabilities			894,934				718,813				24.5
2.25% CONVERTIBLE SENIOR NOTES (aggregate principal of $182,753 at December 31, 2010 and December 31, 2009)			138,155				131,932				4.7
3.00% CONVERTIBLE SENIOR NOTES (aggregate principal of $115,000 at December 31, 2010)			74,365				—				100.0
8.25% SENIOR SUBORDINATED NOTES			—				73,267				(100.0	)
MORTGAGE FACILITY, net of current maturities			—				182,216				(100.0	)
OTHER REAL ESTATE RELATED AND LONG-TERM DEBT, net of current maturities			161,611				19,040				748.8
CAPITAL LEASE OBLIGATIONS RELATED TO REAL ESTATE, net of current maturities			38,819				37,686				3.0
DEFERRED INCOME TAXES			58,970				33,932				73.8
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES			16,426				20,151				(18.5	)
OTHER LIABILITIES			31,036				26,633				16.5
DEFERRED REVENUES			3,280				5,588				(41.3	)
STOCKHOLDERS’ EQUITY:
Common stock			261				262				(0.4	)
Additional paid-in capital			363,966				346,055				5.2
Retained earnings			519,843				471,932				10.2
Accumulated other comprehensive loss			(18,755	)			(26,256	)			(28.6	)
Treasury stock			(80,947	)			(71,837	)			12.7
Total stockholders’ equity			784,368				720,156				8.9
Total liabilities and stockholders’ equity		$	2,201,964			$	1,969,414				11.8	%

Group 1 Automotive, Inc.

		Three Months Ended December 31,													Twelve Months Ended December 31,
		2010				2009				% Change					2010				2009				% Change
Net income (loss)		$	10,569			$	(1,952	)			641.4	%			$	50,304			$	34,845				44.4	%
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Asset impairments			7,719				18,050				(57.2	)				10,840				20,887				(48.1	)
Depreciation and amortization			6,519				6,287				3.7					26,455				25,828				2.4
Deferred income taxes			1,050				6,568				(84.0	)				23,274				29,646				(21.5	)
(Gain) loss on redemption of long-term debt			—				—				—					3,872				(8,211	)			147.2
(Gain) loss on disposition of assets and franchise			(2,322	)			254				(1,014.2	)				848				248				241.9
Stock-based compensation			2,437				1,502				62.3					9,942				8,869				12.1
Amortization of debt discount and issue costs			3,986				1,617				146.5					10,322				7,030				46.8
Other			(30	)			457				(106.6	)				824				(402	)			305.0
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Inventories			(21,302	)			(130,150	)			(83.6	)				(174,249	)			242,996				(171.7	)
Floorplan notes payable — credit facility			33,350				117,450				(71.6	)				198,159				(246,659	)			180.3
Floorplan notes payable — manufacturer affiliates			(299	)			25,309				(101.2	)				(10,580	)			(14,145	)			(25.2	)
Contracts-in-transit and vehicle receivables			(21,330	)			(19,409	)			9.9					(27,218	)			16,500				(265.0	)
Accounts and notes receivable			(9,097	)			(10,014	)			(9.2	)				(13,844	)			10,851				(227.6	)
Prepaid expenses and other assets			(138	)			(6,459	)			(97.9	)				6,922				845				719.2
Deferred revenues			(549	)			(1,155	)			(52.5	)				(2,308	)			(4,632	)			(50.2	)
Accounts payable and accrued expenses			6,506				(1,003	)			748.7					16,130				(16,481	)			197.9
Adjusted net cash provided by operating activities		$	17,069			$	7,352				132.2	%			$	129,693			$	108,015				20.1	%

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

				Three Months Ended								Twelve Months Ended
				December 31,								December 31,
				2010				2009				2010				2009
NEW VEHICLE UNIT SALES GEOGRAPHIC MIX:
Region		Geographic Market
Eastern		Massachusetts			12.2	%			14.9	%			14.3	%			15.1	%
		New Jersey			5.9				6.3				6.3				6.5
		New York			3.9				4.4				3.8				4.1
		Georgia			3.8				3.9				3.9				3.7
		New Hampshire			3.7				4.3				4.0				4.2
		Louisiana			3.6				2.8				3.2				3.1
		South Carolina			1.9				0.3				1.3				0.3
		Mississippi			1.7				1.7				1.7				1.8
		Alabama			1.1				0.8				1.2				0.7
		Maryland			0.8				0.9				0.8				0.9
		Florida			0.7				2.0				1.2				1.7
					39.3				42.3				41.7				42.1
Central		Texas			32.6				31.8				31.2				32.1
		Oklahoma			7.4				8.0				7.8				8.3
		Kansas			0.9				1.2				0.9				1.2
					40.9				41.0				39.9				41.6
Western		California			14.5				13.9				13.7				14.0
International		United Kingdom			5.3				2.8				4.7				2.3
					100.0	%			100.0	%			100.0	%			100.0	%
NEW VEHICLE UNIT SALES BRAND MIX:
Toyota/Scion/Lexus					35.5	%			38.0	%			35.5	%			36.6	%
BMW/Mini					13.3				10.8				11.9				9.8
Nissan/Infiniti					12.6				12.6				14.1				12.8
Honda/Acura					11.6				11.4				12.0				12.6
Ford					7.4				8.1				7.8				7.9
Mercedes-Benz					6.3				7.4				5.8				5.9
GM					4.3				4.3				4.0				3.8
Chrysler					3.3				2.7				3.0				5.0
Other					5.7				4.7				5.9				5.6
					100.0	%			100.0	%			100.0	%			100.0	%
NEW VEHICLE UNIT SALES OTHER MIX:
Import					55.1	%			55.7	%			57.5	%			57.8	%
Luxury					30.1				29.5				27.8				25.7
Domestic					14.8				14.8				14.7				16.5
					100.0	%			100.0	%			100.0	%			100.0	%
Car					56.4	%			57.3	%			58.2	%			58.6	%
Truck					43.6				42.7				41.8				41.4
					100.0	%			100.0	%			100.0	%			100.0	%

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

		Three Months Ended December 31,													Twelve Months Ended December 31,
		2010				2009				%Change					2010				2009				%Change
REVENUES:
New vehicle retail sales		$	832,714			$	659,058				26.3	%			$	3,086,807			$	2,543,031				21.4	%
Used vehicle retail sales			310,663				241,269				28.8					1,271,039				970,614				31.0
Used vehicle wholesale sales			58,877				40,532				45.3					215,530				153,068				40.8
Total used			369,540				281,801				31.1					1,486,569				1,123,682				32.3
Parts and service			191,242				175,341				9.1					767,004				722,565				6.2
Finance and insurance			44,256				34,216				29.3					168,789				136,429				23.7
Total		$	1,437,752			$	1,150,416				25.0	%			$	5,509,169			$	4,525,707				21.7	%
GROSS MARGIN:
New vehicle retail sales			5.6	%			6.2	%								5.8	%			6.1	%
Used vehicle retail sales			8.2				8.8									9.0				10.1
Used vehicle wholesale sales			(0.7	)			(2.5	)								1.3				1.5
Total used			6.8				7.2									7.9				8.9
Parts and service			53.1				53.8									53.8				53.3
Finance and insurance			100.0				100.0									100.0				100.0
Total			15.1	%			16.5	%								15.9	%			17.1	%
GROSS PROFIT:
New vehicle retail sales		$	46,235			$	41,161				12.3	%			$	177,795			$	154,234				15.3	%
Used vehicle retail sales			25,451				21,329				19.3					115,004				98,034				17.3
Used vehicle wholesale sales			(391	)			(1,027	)			(61.9	)				2,697				2,304				17.1
Total used			25,060				20,302				23.4					117,701				100,338				17.3
Parts and service			101,470				94,368				7.5					412,748				384,836				7.3
Finance and insurance			44,256				34,216				29.3					168,789				136,429				23.7
Total		$	217,021			$	190,047				14.2	%			$	877,033			$	775,837				13.0	%
UNITS SOLD:
Retail new vehicles sold			25,383				20,240				25.4	%				97,511				83,182				17.2	%
Retail used vehicles sold			15,771				12,886				22.4					66,001				54,067				22.1
Wholesale used vehicles sold			8,808				6,571				34.0					33,524				27,793				20.6
Total used			24,579				19,457				26.3	%				99,525				81,860				21.6	%
GROSS PROFIT PER UNIT SOLD:
New vehicle retail sales		$	1,821			$	2,034				(10.5)	%			$	1,823			$	1,854				(1.7	)%
Used vehicle retail sales			1,614				1,655				(2.5	)				1,742				1,813				(3.9	)
Used vehicle wholesale sales			(44	)			(156	)			(71.8	)				80				83				(3.6	)
Total used			1,020				1,043				(2.2	)				1,183				1,226				(3.5	)
Finance and insurance (per retail unit)		$	1,075			$	1,033				4.1	%			$	1,032			$	994				3.8	%
OTHER (1):
SG&A expenses		$	170,839			$	153,233				11.5	%			$	689,320			$	620,749				11.0	%
SG&A as % revenues			11.9	%			13.3	%								12.5	%			13.7	%
SG&A as % gross profit			78.7	%			80.6	%								78.6	%			80.0	%
Operating margin			2.8	%			2.7	%								2.9	%			2.9	%
Pretax margin			1.7	%			1.3	%								1.8	%			1.5	%
FLOORPLAN EXPENSE:
Floorplan interest		$	(8,890	)		$	(8,003	)			11.1	%			$	(34,110	)		$	(32,345	)			5.5	%
Floorplan assistance			6,162				5,009				23.0					23,998				20,039				19.8
Net floorplan expense		$	(2,728	)		$	(2,994	)			(8.9)	%			$	(10,112	)		$	(12,306	)			(17.8	)%

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

		Three Months Ended December 31,													Twelve Months Ended December 31,
		2010				2009				% Change					2010				2009				% Change
REVENUES:
New vehicle retail sales		$	791,481			$	648,137				22.1	%			$	2,961,961			$	2,494,827				18.7	%
Used vehicle retail sales			294,301				238,001				23.7					1,208,687				948,785				27.4
Used vehicle wholesale sales			55,119				39,839				38.4					202,243				149,530				35.3
Total used			349,420				277,840				25.8					1,410,930				1,098,315				28.5
Parts and service			185,648				171,001				8.6					745,840				702,811				6.1
Finance and insurance			43,190				33,783				27.8					165,598				133,765				23.8
Total		$	1,369,739			$	1,130,761				21.1	%			$	5,284,329			$	4,429,718				19.3	%
GROSS MARGIN:
New vehicle retail sales			5.5	%			6.3	%								5.7	%			6.1	%
Used vehicle retail sales			8.3				8.9									9.2				10.1
Used vehicle wholesale sales			(0.3	)			(2.4	)								1.5				1.6
Total used			6.9				7.3									8.1				8.9
Parts and service			53.0				54.0									53.8				53.4
Finance and insurance			100.0				100.0									100.0				100.0
Total			15.3	%			16.5	%								16.1	%			17.1	%
GROSS PROFIT:
New vehicle retail sales		$	43,751			$	40,735				7.4	%			$	169,717			$	152,252				11.5	%
Used vehicle retail sales			24,362				21,101				15.5					110,707				95,780				15.6
Used vehicle wholesale sales			(182	)			(947	)			(80.8	)				3,115				2,417				28.9
Total used			24,180				20,154				20.0					113,822				98,197				15.9
Parts and service			98,457				92,281				6.7					401,377				375,169				7.0
Finance and insurance			43,190				33,783				27.8					165,598				133,765				23.8
Total		$	209,578			$	186,953				12.1	%			$	850,514			$	759,383				12.0	%
UNITS SOLD:
Retail new vehicles sold			24,080				19,919				20.9	%				93,491				81,599				14.6	%
Retail used vehicles sold			15,027				12,699				18.3					63,123				52,654				19.9
Wholesale used vehicles sold			8,330				6,454				29.1					31,956				27,115				17.9
Total used			23,357				19,153				21.9	%				95,079				79,769				19.2	%
GROSS PROFIT PER UNIT SOLD:
New vehicle retail sales		$	1,817			$	2,045				(11.1	)%			$	1,815			$	1,866				(2.7	)%
Used vehicle retail sales			1,621				1,662				(2.5	)				1,754				1,819				(3.6	)
Used vehicle wholesale sales			(22	)			(147	)			(85.0	)				97				89				9.0
Total used			1,035				1,052				(1.6	)				1,197				1,231				(2.8	)
Finance and insurance (per retail unit)		$	1,104			$	1,036				6.6	%			$	1,057			$	996				6.1	%
OTHER:
SG&A expenses		$	163,801			$	149,716				9.4	%			$	663,960			$	603,366				10.0	%
SG&A as % revenues			12.0	%			13.2	%								12.6	%			13.6	%
SG&A as % gross profit			78.2	%			80.1	%								78.1	%			79.5	%
Operating margin			2.5	%			2.4	%								2.9	%			2.9	%
FLOORPLAN EXPENSE:
Floorplan interest		$	(8,736	)		$	(7,873	)			11.0	%			$	(33,520	)		$	(31,966	)			4.9	%
Floorplan assistance			6,039				4,888				23.5					23,675				19,510				21.3
Net floorplan expense		$	(2,697	)		$	(2,985	)			(9.6	)%			$	(9,845	)		$	(12,456	)			(21.0	)%

(Dollars in thousands, except per share amounts)

		Three Months Ended December 31,													Twelve Months Ended December 31,
		2010				2009				% Change					2010				2009				% Change
NET INCOME RECONCILIATION:
As reported		$	10,569			$	(1,952	)			641.4	%			$	50,304			$	34,845				44.4	%
After-tax Adjustments:
Non-Cash asset impairment charges(2)			4,947				11,557									6,930				13,283
Mortgage debt refinance charges(3)			—				—									—				331
Loss on dealership dispositions(4)			—				651									3,698				200
Loss (gain) on debt redemption(5)			—				—									2,458				(5,299	)
Severance costs related to UK-dealership acquisitions(6)			—				—									405				—
Income tax benefit related to discrete items(7)			(810	)			—									(810	)			(1,604	)
Gain on sale of real estate(8)			—				—									(761	)			—
Adjusted net income(1)		$	14,706			$	10,256				43.4	%			$	62,224			$	41,756				49.0	%
DILUTED INCOME PER SHARE RECONCILIATION(11):
As reported		$	0.46			$	(0.08	)			675.0	%			$	2.16			$	1.49				45.0	%
After-tax Adjustments:
Non-Cash asset impairment charges			0.22				0.49									0.30				0.57
Mortgage debt refinance charges			—				—									—				0.01
Loss on dealership dispositions			—				0.02									0.15				0.01
Loss (gain) on debt redemption			—				—									0.10				(0.22	)
Severance costs related to UK-dealership acquisitions			—				—									0.02				—
Income tax benefit related to discrete items			(0.04	)			—									(0.03	)			(0.07	)
Gain on sale of real estate			—				—									(0.03	)			—
Adjusted diluted income per share(1)		$	0.64			$	0.43				48.8	%			$	2.67			$	1.79				49.2	%
SG&A RECONCILIATION:
As reported		$	170,839			$	154,235				10.8	%			$	693,635			$	621,048				11.7	%
Pre-tax Adjustments:
Loss on dealership dispositions			—				(1,002	)								(5,053	)			(299	)
Severance costs related to UK-dealership acquisitions			—				—									(562	)			—
Gain on sale of real estate			—				—									1,300				—
Adjusted SG&A(1)		$	170,839			$	153,233				11.5	%			$	689,320			$	620,749				11.0	%
SG&A AS % REVENUES:
Unadjusted			11.9	%			13.4	%								12.6	%			13.7	%
Adjusted (1)			11.9	%			13.3	%								12.5	%			13.7	%
SG&A AS % OF GROSS PROFIT:
Unadjusted			78.7	%			81.2	%								79.1	%			80.0	%
Adjusted (1)			78.7	%			80.6	%								78.6	%			80.0	%
OPERATING MARGIN:
Unadjusted			2.2	%			1.0	%								2.7	%			2.4	%
Adjusted (1), (9)			2.8	%			2.7	%								2.9	%			2.9	%
PRETAX MARGIN:
Unadjusted			1.1	%			(0.3	)%								1.5	%			1.2	%
Adjusted (1), (10)			1.7	%			1.3	%								1.8	%			1.5	%