Reuters Summit-Group 1 looks at buying Ford stores

DETROIT, Nov 2 - Group 1 Automotive is interested in buying Ford Motor Co franchises in markets in which it already operates, such as Texas and Oklahoma, the chief executive of the dealership chain told Reuters on Monday.

Speaking at the annual Reuters Autos Summit in Detroit, Earl Hesterberg said the auto retailer was in a position to make strategic acquisitions but that it would stay away from increasing its exposure to General Motors Co and Chrysler.

"We would be interested in buying a Ford dealership," Hesterberg said. "We are pretty bullish on Ford."

Hesterberg said he would like to expand the chain into Florida and Arizona eventually, but would prefer to wait until the economy gets better. "We would like to prioritize acquisitions that give us greater scale in markets we are already in," he said, referring to Texas, Oklahoma, Boston, New York, New Jersey, and the U.S. Gulf Coast.

Hesterberg also said he sees no signs of a rebound in consumer confidence and he has "no significant optimism" for U.S. vehicle sales in November and December.

He added that a forecast of U.S. auto sales of 11 million units on an annualized basis for 2010 was a "reasonable number."