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Car dealer shares take a dive after Lithia's profit warning

2014-10-14 01:37:53| Auto Dealers - Topix.net

Shares of auto retailers took a beating Monday following a profit warning by Lithia Motors, less than two weeks after Warren Buffett sparked a broad rally by buying into the sector. tumbled 17% in midday trading to a six-month low, after the eighth-biggest auto dealer cut its third- and fourth-quarter earnings outlooks , as declining used vehicle values weighed on profit margins, and offset an upbeat sales environment.

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Category:Automotive

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