March 19, 2018 / 8:33 PM / 4 months ago

BRIEF-Group 1 Automotive Says Q1 Earnings Will Be Negatively Affected By Weak Market Conditions

March 19 (Reuters) - Group 1 Automotive Inc:

* GROUP 1 ANNOUNCES MARKET CONDITIONS AND COSTS ASSOCIATED WITH STRATEGIC INITIATIVES WILL NEGATIVELY IMPACT FIRST QUARTER RESULTS

* GROUP 1 AUTOMOTIVE INC - Q1 EARNINGS WILL BE NEGATIVELY AFFECTED BY WEAK MARKET CONDITIONS, INCLUDING PRESSURE ON USED CAR MARGINS

* GROUP 1 AUTOMOTIVE - BASED ON A STRATEGIC REVIEW, REAFFIRMED THAT USED VEHICLE AND AFTERSALES SEGMENTS ARE KEY ELEMENTS OF OUR BUSINESS MODEL

* GROUP 1 - PEAK IN NEW VEHICLE MARKET IN U.S. & U.K. AND MORE NEARLY-NEW, OFF-LEASE USED VEHICLES INTO THESE MARKETS PRESSURING CO’S MARGINS

* GROUP 1 AUTOMOTIVE INC - “WE HAVE MADE THE CONSCIOUS DECISION TO MAKE SOME SIGNIFICANT UPFRONT INVESTMENTS TO SUPPORT OUR LONG-TERM STRATEGIES”

* GROUP 1 AUTOMOTIVE - SIGNIFICANTLY ENHANCED USED VEHICLE COMPENSATION STRUCTURE & OPPORTUNITIES FOR ITS SALES ASSOCIATES

* GROUP 1 - ESTIMATE TOTAL COST OF STRATEGIC INITIATIVES WILL ADD ABOUT $3 MILLION TO COSTS IN EACH OF Q1 AND Q2 OF 2018 Source text for Eikon: Further company coverage:

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