As profits grow, auto dealer groups seek respect

Newswire

By Justin Hyde DETROIT, Oct 29 (Reuters) - With soaring profits and revenues, the large auto dealer groups are now pursuing a goal that has eluded them so far -- respect from Wall Street. Four of the largest conglomerates of new-vehicle dealerships -- AutoNation Inc. , Sonic Automotive Inc. , UnitedAuto Group Inc. and Group 1 Automotive -- have reported over the past week an average increase of 42 percent in third-quarter profits, fueled by strong new-vehicle sales and acquisitions of ...

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