(Adds details throughout) DETROIT, July 26 (Reuters) - Car dealership Sonic Automotive Inc. on Tuesday posted lower second-quarter profit, hurt by rising interest rates and continued pressure on new vehicle margins. The Charlotte, North Carolina-based company, said profit fell to $27 million, or 62 cents a share, from $30 million, or 69 cents a share a year earlier. Excluding charges, the company earned 66 cents a share, higher than Wall Street expectations of 63 cents a share. ...
Premium Content (PAID Subscription Required)
"UPDATE 1-Sonic Automotive profit falls on rates, margins" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: firstname.lastname@example.org or phone: (248) 799-2642