Penske posts higher profit on jump in vehicle sales


July 31 (Reuters) - Penske Automotive Group Inc, one of the largest U.S. dealership groups, reported a higher second-quarter profit on Tuesday, buoyed by a 21-percent increase in vehicle sales. The company reported net income attributable to shareholders of $49.1 million, or 54 cents per share, compared with $39.6 million, or 43 cents per share, for the same period last year. Revenue rose about 20 percent to $3.37 billion. Overall costs rose 21 percent to $2.86 ...

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