- AutoNation (NYSE:AN) rallies 10.78% after used vehicle revenue in Q2 topped expectations and gross profit was easily above consensus ($890M vs. $866M). Analysts say they expect a smooth transition with CFO Cheryl Miller elevated to the CEO slot at the company.
- Related auto retailers Carvana (CVNA +3.8%), Asbury Group (ABG +2.1%), Sonic Automotive (SAH +3.8%), Lithia Motors (LAD +2.2%), Penske Automotive Group (PAG +5.1%) and Group 1 Automotive (GPI +3.6%) are all notably higher on the day, while CarMax (KMX +0.7%) is showing a more modest gain.