Auto dealership groups post solid earnings

Newswire

By Michael Ellis DETROIT, July 31 (Reuters) - Auto dealership companies Group 1 Automotive Inc. and Asbury Automotive Group Inc. on Thursday posted solid results, capping a better-than-expected quarter for the sector, on strong sales of luxury vehicles and growing earnings from repairs and financing. "All in all, it was a good solid performance across the sector," said analyst Rick Nelson of Stephens Inc. He added that the results proved that the sector is not as sensitive to economic ...

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