Group 1 Automotive Inc. GPI reported adjusted earnings per share of $1.87 in second-quarter 2017, missing the Zacks Consensus Estimate of $1.99.On a reported basis, Group 1 Automotive recorded net income of $39.1 million or $1.84 per share. In the prior-year quarter, the company registered net income of $46.6 million or $2.12 per share.Revenues decreased 4% year over year to $2.67 billion and came almost in line with the Zacks Consensus Estimate.Revenues from new vehicle retail sales declined 6% to $1.45 billion due to a 6.3% decrease in unit sales. Revenues from retailed used vehicles decreased 4.2% to $685.9 million on a 2.9% decline in unit sales. Revenues from used vehicle wholesale sales increased 3.2% to $99.4 million.From the Parts and Service business, revenues improved 4.5% to $282.7 million. The company’s Finance and Insurance business witnessed a 1.7% fall in revenues to $94.6 million.Gross profit decreased 1.3% year over year to $404.9 million. Operating income declined 5.3% to $92.2 million.Segment DetailsRevenues in the U.S. business fell 3.8% to $2.1 billion. The segment recorded a 4.9% decrease in new vehicle retail sales to $1.1 billion and a 5.4% decline in total used vehicles’ retail sales to $602.7 million. Parts and Service revenue increased 4.5%, while Finance and Insurance revenues declined 3.8%.Revenues in the U.K. business declined 6.6% year over year to $437.1 million. Retail new vehicle sales dropped 11.7% to $231.4 million and total used vehicle sales grew 1.7% to $158.9 million. Parts and Service revenue decreased 7.3%, while Finance and Insurance revenues advanced 1.7%.Revenues from the Brazil business rose 3.8% year over year to 1.4 million in the reported quarter. New vehicle retail sales declined 2.4% to $73.6 million, while total used vehicle sales increased 28.5% to $23.8 million. Parts and Service revenues increased 2.4%, while Finance and Insurance revenues grew 23%.Financial DetailsGroup 1 Automotive’s cash and cash equivalents increased to $26.6 million as of Jun 30, 2017 from $21 million as of Dec 31, 2016.Share RepurchasesDuring second-quarter 2017, Group 1 Automotive repurchased 629,298 or around 3% of the outstanding shares. As of Jun 30, 2017, the company had $50.7 million remaining under the share repurchase authorization.AcquisitionsDuring second-quarter 2017, the company acquired its first Jaguar and Land Rover dealerships in the U.S., located in Albuquerque and Santa Fe, New Mexico.In April, Group 1 Automotive opened Cedar Park Nissan in Austin, TX, which has expected annualized revenue of $30 million.Also, in July 2017, the company acquired Beadles Group Ltd in the U.K., which expands the dealership footprint in the region to 43 stores. This is expected to fetch annual revenues of $330 million.Zacks Rank & Key PicksGroup 1 Automotive currently carries a Zacks Rank #5 (Strong Sell).Some better-ranked companies in the auto space are Allison Transmission Holdings ALSN, Volkswagen AG VLKAY and Daimler AG DDAIF, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Allison Transmission has expected long-term growth rate of 11%.Volkswagen has expected growth rate of around 17.3% in the long run.Daimler has expected long-term growth rate of 2.8%. Group 1 Automotive, Inc. Price, Consensus and EPS Surprise Group 1 Automotive, Inc. Price, Consensus and EPS Surprise | Group 1 Automotive, Inc. QuoteThe Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Group 1 Automotive, Inc. (GPI): Free Stock Analysis Report Daimler AG (DDAIF): Free Stock Analysis Report Volkswagen AG (VLKAY): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report To read this article on Zacks.com click here.