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Publics hop on buyback bandwagon

Several publicly traded dealership groups have reported strong, sometimes record, first-quarter earnings per share. Their net income didn't soar. Rather, they've been buying back their shares like crazy.

Tesla posts $282 million 1st-quarter loss
UPDATED: 5/4/16 7:26 pm ET - adds details

Customer deposits for the $35,000-and-up Model 3 sedan helped Tesla raise cash on hand during the first quarter of 2016 as it reported a wider net

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