Innovative Dealers

Group 1's Q2 profits flat, hit by storm expenses

UPDATED: 7/28/16 2:46 pm ET - adds details

Group 1 Automotive's net income rose 0.6 percent in the second quarter to $46.6 million, largely buoyed by its parts and service and finance and insurance operations. Its new-vehicle retail sales in the U.S. declined, but profits per unit retailed rose.

Penske Automotive's Q2 net slips 0.7% on currency, interest costs.

Penske Automotive's net income in the second quarter eased 0.7 percent from the year-earlier quarter to $95.0 million, on currency losses and higher floorplan and other interest costs.

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