DETROIT, April 27 (Reuters) - Car dealership company UnitedAuto Group Inc. on Tuesday posted higher first-quarter earnings as sales of new and used vehicles increased.
Bloomfield Hills, Michigan-based UnitedAuto said earnings rose to $20.2 million, or 48 cents a share, from $13.7 million, or 34 cents, in the year-ago quarter.
The company had said it expected earnings of 43 cents to 47 cents per share. Analysts had expected 44 cents to 47 cents per share, with an average estimate of 46 cents, according to Reuters Research, a unit of Reuters Plc.