Group 1 Automotive Board Authorizes New $50 Million Share Repurchase Program

HOUSTON--July 11, 2012:   Group 1 Automotive, Inc.  , a Fortune 500 automotive retailer, today announced that its board of directors authorized a program to repurchase up to $50.0 million of the company's common stock. Purchases may be made from time to time, based on market conditions, legal requirements and other corporate considerations, in the open market or in privately negotiated transactions. During the second quarter of 2012, Group 1 repurchased 241,991 common shares at an average price of $46.75. The new $50.0 million program replaces any amount remaining under the prior authorization at June 30.

The company expects that any repurchase of shares will be funded by cash from operations. Repurchased shares will be held in treasury.

About Group 1 Automotive, Inc.
Group 1 owns and operates 122 automotive dealerships, 159 franchises, and 28 collision centers in the United States and the United Kingdom that offer 32 brands of automobiles. Through its dealerships, the company sells new and used cars and light trucks; arranges related vehicle financing, service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts.

Group 1 Automotive can be reached on the Internet at Gour 1 Auto.