UPDATE 1-Auto dealer Penske quarterly profit tumbles


* Net EPS 15 cents vs 40 cents * Revenue down 30 pct to $2.3 billion DETROIT, July 29 (Reuters) - Car dealership group Penske Automotive Group Inc posted a 63 percent decline in quarterly profit on Wednesday as the recession hurt consumer demand for new vehicles. The second-largest U.S. dealership group, which has a preliminary agreement to buy General Motors' [GM.UL] Saturn brand, said due diligence and negotiations continue related to the transaction. The company posted net income ...

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