2 Best Buys From the Auto Retail Industry for Solid Returns
Penske Automotive (PAG) ZACKS·2024-08-15 21:21
The Zacks Auto Retail and Wholesale industry is set for growth, driven by vehicle demand, which may receive an additional boost with the increased likelihood of a Federal Reserve rate cut next month. While sales have managed to hold ground, dealerships are offering attractive incentives amid high inventory levels, which are putting pressure on retailers' profit margins. Despite this, auto retailers like Penske Automotive (PAG) and Rush Enterprises (RUSHA) stand out for their strategic expansions and shareho ...