Weak New Car Buys Could Fuel These Auto Dealer Stocks, from Investors.com.
American consumers aren’t new-car shopping as much as it looks from first glance at the data.
But dealers that focus on used cars, parts and service are poised to thrive, according to an analysis that mentions three companies also highly rated by IBD.
In March, the annual rate of U.S. new-vehicle sales reached 17.1 million, Stifel Nicolaus analyst James Albertine noted, citing Automotive News, on an investor-update conference call Tuesday.
It “appears a little bit stronger than the underlying vehicle sales currents would imply,” he said, after the annualized sales rate was 16.2 million in February and 16.7 million in January.