Group 1 Automotive Inc. has expanded its presence in Brazil with the purchase of a Mercedes-Benz dealership in Campo Grande, the capital of the Brazilian state of Mato Grossodo Sul. It is the sole Mercedes-Benz dealership in the area. The store is in the process of relocating and aims to begin normal operations at its new location in about three months.
The Group entered the Brazil market in January of 2013 with the acquisition the 18-store UAB Motors Participacoes SA dealership group. The B in the acronym BRICs, as four of the world’s fast-growingemerging economies are sometimes called, Brazil has a thriving auto industry. But storm clouds have recently appeared. Sales fell by 17.2 percent in August compared to the same month in 2013 to 272,495 units, according to Ward’s Auto.
Group 1 is publicly-listed and is the third largest dealership group in the U.S. based on new retail sales. It also owns and operates dealerships in the U.K.
http://group1corp.com/2014-09-15-Group-1-Automotive-Disposes-of-Two-Dealerships-on-Long-Island-NY