So far this year, Group 1 Automotive Inc. has added eight franchises expected to contribute $242 million in annual revenue -- but the retailerand#8217;s buying surge is likely to slow down, CEO Earl Hesterberg said.

Group 1 Automotive Inc. said today that Toyota's quality issues initially will whack the dealer group's new-vehicle sales, but recall-related repairs will create higher service revenue that could offset the losses by the first half of the year.

Group 1 Automotive Inc., the No. 4 U.S. auto dealership, has been looking at possible acquisitions over the past few months and would consider buying more Ford Motor Co. dealerships, CEO Earl Hesterberg said today.

With their dealerships swimming in un-submitted clunker sales contracts, two of the nation's biggest auto chains -- AutoNation and Group 1 Automotive Inc. -- are pulling the plug early on cash-for-clunkers.