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Dealer profit slips in July

Overall dealer profitability, as measured by Top Gun dealers nationwide, fell in July to 8.6% from the 10.6% recorded in June. In July 2003, the profit margin was only 7.9%. Overall net profit for the year through July was 7.2%, a slight improvement over the 7.1% YTD figure recorded through June, but below the 7.5% marked through July 2003.
Gross profit per vehicle financed was $512 in July, up from $456 the previous month and up from $374 in July 2003. Showroom traffic was up 2% in July compared to June. psb

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