WRAPUP 1-US auto retailers struggle to offset new car slump

Newswire

By Kevin Krolicki DETROIT, April 29 (Reuters) - Major U.S. auto retail groups on Tuesday posted quarterly results that underscore their mixed success in offsetting pressure from slumping new vehicle sales through sales of used cars, financing and service operations. Penske Automotive Group Inc , the No. 2 U.S. dealership group by unit sales, and Group 1 Automotive Inc , the No. 4 dealership group, both reported earnings above analysts' expectations, sending their shares higher. Group 1 ...

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