Auto industry

Public dealers lean harder on service

Across Q3 reports from publicly traded dealer groups, parts and service supplied 54% of gross profit; sales-weighted new-vehicle gross per unit fell 6% year over year to $2,703, used gross per unit rose 4.7% to $2,392, and combined operating margin slipped to 3.8% from 4.5%, per Cox Automotive's Nov. 2 market summary. Service income is carrying more of the load as new-vehicle gross profit softens.

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