Lithia latest car dealer to cut profit outlook

Newswire

MEDFORD, Ore., Dec 20 (Reuters) - Car dealer Lithia Motors Inc. on Friday said its fourth-quarter earnings would be as much as 30 percent lower than expected as the aggressive incentives offered on cars cuts into profit margins. Lithia, based in Medford, Oregon, also cut estimates for next year, becoming at least the fourth U.S. auto dealer group in just over a week to warn that profits would be weaker than estimated. Earlier on Friday, Asbury Automotive Group Inc. slashed its profit ...

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