Sonic Automotive earnings decline

Newswire

DETROIT, Oct 28 (Reuters) - Auto dealer group Sonic Automotive Inc. said on Tuesday its third-quarter earnings fell as sales of used vehicles declined and its domestic franchises performed poorly. Sonic said it earned $17.5 million, or 41 cents a share, in the quarter, down from $32 million, or 73 cents a share, in the same period a year ago. Revenue declined 5 percent to $1.9 billion.

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