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AutoNation leads auto retail sector higher

Jul. 23, 2019 10:40 AM ETKMX, AN, PAG, ABG, GPI, SAH, LAD, CVNABy: Clark Schultz, SA News Editor3 Comments
  • 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.

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