WRAPUP 1-US car retailers, parts makers exceed low expectations


By David Bailey DETROIT, July 29 (Reuters) - U.S. auto dealers and parts makers posted quarterly profits above analyst expectations that had been beaten down by the U.S. auto sales slump, high gasoline prices and distress in the domestic economy. Shares rose sharply for car dealer groups Sonic Automotive Inc and Group 1 Automotive Inc and for parts suppliers Lear Corp and ArvinMeritor Inc despite the continued downturn in the U.S. auto industry. Also supporting shares of dealers and ...

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