Group 1 in the UK has revoked its decision to terminate 10 JLR franchises in the UK following discussions with the carmaker.
The company originally announced that it was going to terminate its 10 JLR businesses but announced today at its third quarter results that it would now retain five.
“The Company reached an agreement with Jaguar Land Rover in the U.K. to revoke its previous election to terminate 10 JLR franchise agreements, which would have been effective as of August 2027.
“As a result, the Company will retain and operate the five remaining JLR dealerships in the U.K. it had previously elected to terminate.”
Speaking to analysts on an earnings call, Group 1 UK CEO Daniel McHenry said: You know, whenever I look at our Jaguar. Land Rover Jaguar portfolio that we had in the UK, I would have said it was a tale of two halves.
“The stores that we had in the North Of England, they really struggled. Generally, the stores that we had in the South Of England did quite well. Particularly around London.
“And, you know, we had some discussions with Jaguar Land Rover around the dispositions there. They were keen for us to remain as a partner. And, you know, of the new models that are coming to that brand it made it more accretive for us to keep those stores and sell those stores,” he said.
Group 1 said it it had expanded its U.K. network through an agreement with Geely, opening two of three planned locations to date, with the third expected by December 2026.
Subsequent to the current quarter, the Company agreed with Chinese automaker Chery to open an Omoda & Jaecoo location in the UK, also expected by December 2026.
Year to date, the Company has acquired and integrated three dealership operations in the U.K. with total expected annual revenues of approximately $135 million.
Its UK new vehicle retail units sold for the current quarter were 15,984, a 1.9% increase, compared to 15,687 for the prior-year quarter.
On a same store basis, U.K. new vehicle retail units sold for the current quarter were 15,467, an 8.1% increase, compared to 14,308 for the prior-year quarter.
