Car dealership group Sonic Automotive on Tuesday posted lower second-quarter profit, hurt by rising interest rates and pressure on new vehicle margins, Reuters said.
Car dealership group Sonic Automotive on Tuesday posted lower second-quarter profit, hurt by rising interest rates and pressure on new vehicle margins, Reuters said.
The Charlotte, North Carolina-based company reportedly said profit fell to $US27 million, or 62 cents a share, from $30 million, or 69 cents a share, a year ago.
Excluding charges, the company earned 66 cents a share, higher than Wall Street expectations of 63 cents a share, Reuters said.
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