. . . EXHIBIT 12.1 Group 1 Automotive Ratio of Earnings to Fixed Charges Year Ended December 31, Six Months Ended June 30, ---------------------------------------------- ------------------------- 1998 1999 2000 2001 2002 2002 2003 ---------------------------------------------- ------------------------- (DOLLARS IN THOUSANDS) Fixed Charges: Interest on Debt and Capitalized Interest $16,864 $31,414 $ 53,853 $ 43,178 $ 31,013 $14,875 $17,016 Interest Element of Rentals 5,083 9,169 13,033 14,100 8,020 3,732 3,833 ----------------------------------------------- ------------------- Total $21,947 $40,583 $ 66,886 $ 57,278 $ 39,033 $18,607 $20,849 =============================================== =================== Earnings: Pretax Income $35,221 $55,689 $ 65,826 $ 89,422 $107,282 $54,968 $55,232 Add: Fixed Charges 21,947 40,583 66,886 57,278 39,033 18,607 20,849 Less: Capitalized Interest - 592 352 897 1,295 728 438 ----------------------------------------------- ------------------- Total $57,168 $95,680 $132,360 $145,803 $145,020 $72,847 $75,643 =============================================== =================== Ratio of Earnings to Fixed Charges 2.6 2.4 2.0 2.5 3.7 3.9 3.6 =============================================== ===================