Group 1 Automotive recently presented at Morgan Stanley's Virtual Eighth Annual Laguna Conference, according to PR Newswire.
The company has discussed the various impacts COVID-19 has made on its business and how it became flexible in addressing its customers and employees’ needs.
The months of March and April reflected a huge effect on Group 1’s U.S. and U.K sales.
In March, U.K. operations had complete shutdown and the U.S. had to comply with the shelter-in-place restrictions.
Although April’s month-end has slowly started to show signs of improvement, its first half demonstrated vehicle sales and service businesses were down by approximately 50%. It was also the month the U.K. furloughed 90% of its workforce.
While Group 1 acknowledges these changes in its business, the company remains primarily focused on its commitment to the safety of its employees and clients to continuously offer essential services to those needing vehicles, parts and service work.
Further coverage of Group 1 Automotive’s presentation can be downloaded from its website.
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