Market Overview

Group 1 Preliminary Assessment Indicates Minor Damage to its Gulf Coast Dealerships

Group 1 Automotive (NYSE: GPI), today announced it is assessing damage at 12 of its Gulf Coast dealerships in the aftermath of Hurricane Isaac.

"Group 1's primary concern is to assist its employees in the areas affected by Hurricane Isaac," said Earl J. Hesterberg, Group 1's president and chief executive officer. "We are also working to quickly assess and repair the damage at our dealerships in order to restore full operations for the local residents."

Preliminary assessments indicate minor damage to some facilities and inventory due to the heavy rain and winds. There was a loss of business due to store closures, evacuations, the inability for consumers to obtain personal vehicle insurance, and loss of power in the surrounding areas.

Posted-In: News Guidance

 

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