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Sonic Automotive Profit Up 41% |
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Written by David Horn
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(CHARLOTTE) -- Sonic Automotive, Inc. reported its second quarter adjusted earnings from continuing operations were $15.6 million. This is up 41% from adjusted earnings from continuing operations in the same period in 2009. The Charlotte-based company saw new vehicle sales increased 19% in the quarter and sale of used vehicles increased 23%.
"We are pleased with the growth in both revenues and profits over the second quarter of last year. Our new vehicle business is up both sequentially and over the same period last year as we continue to see economic stabilization in certain segments of our geographic footprint," said Sonic President B. Scott Smith. Sonic is the third-largest automotive retailer in the country. The company operates 140 automobile retail franchises across the country. |
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Last Updated ( Thursday, 29 July 2010 )
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