UPDATE 2-Pendragon warns on used car market, denting shares

Newswire

(Adds analyst quotes, shares) By Pete Harrison LONDON, June 25 (Reuters) - Britain's biggest car dealer, Pendragon , warned that a tough used car market would knock about 20 million pounds ($40 million) off this year's operating profit, hitting its shares and those of rivals. Pendragon's shares, which had already lost 17 percent of their value over the last month, fell a further 17.4 percent to 81 pence by 0854 GMT on Monday. "We see the market for used cars for the remainder of the ...

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