Dealer groups AutoNation Inc., Sonic Automotive Inc. and Group 1 Automotive Inc. all have raised their second quarter 2002 and full-year earnings forecasts due to strong first quarter 2002 profits. Strong auto sales, largely due to auto manufacturers’ incentives and low-rate financing, gave AutoNation, the largest dealer group in the U.S., a jump of 53% in first quarter earnings to $91.7 million vs. $59.9 million in first quarter 2001. Revenue dropped from $4.89 billion in first quarter ...
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