Group 1 Automotive announced today that it is ranked 458th on Fortune Magazine’s list of America’s 500 largest companies according to revenue. Today’s announcement reveals a significant jump from last year’s ranking of 569th on the Fortune 100 list for the automotive retailing giant.
Group 1 increased its 1999 revenues of $2.5 billion to $3.6 billion in 2000. The jump is indicative of the strength of the Automotive Retailing and Services sector which Fortune magazine says is among the 10 fastest growing industry sectors in the country.
B.B. Hollingsworth, Group 1 Automotive, Inc.’s chairman, president and CEO, attributes the growth to the company’s “strong operating model, desirable brands and committed co-workers. We are honored to be included among the leading companies in America for 2000. Our goal is to continue to provide our customers outstanding value and service.”
Last year, the automotive retailer was ranked 7th on the Ward’s MegaDealer 100 list, an annual ranking published by Ward’s Dealer Business magazine of the top 100 dealer groups in the nation according to revenue.
Group 1 Automotive, based in Houston, TX owns 59 dealerships with 101 franchises in Texas, Oklahoma, Florida, New Mexico, Colorado, Georgia, Louisiana and Massachusetts.