Tag Archives: margins

Thinner new-car margins drag down Sonic Q2 earnings

Sonic Automotive Inc.’s net income tumbled 47 percent to $12.1 million in the second quarter, the publicly traded dealership group said Friday. Squeezed new-vehicle margins were largely to blame, executives said, due to competitive pricing pressure, automakers’ trying to limit incentives and a glut of nearly new off-lease cars. An ongoing economic slump in the oil patch states, such as ... Read More »

Sale of used cars: GST only on margins made by dealer, says Adhia

The GST rates for second-hand car transactions will be the same as the new cars of the same make — 29 per cent for small cars or 43 per cent for all the other cars. The sale of second-hand cars on the vendor platforms will attract goods and services tax (GST) only on the margins made by the dealer, revenue ... Read More »