Tag Archives: Thinner

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 »