“One corner of the auto market is hitting records as used car prices surge”
July 28, 2021
“A global chip shortage has put the squeeze on car production and driven the price of used cars higher. Used car and truck prices rose by more than 45% in June, according to the most recent read on inflation.
That looks to have had a knock-on effect among auto stocks with repair and tune-up plays gaining favor among investors. Advanced Auto Parts, AutoZone, AutoNation and O’Reilly Automotive hit record highs in the past week.
Raymond James also weighed in on the group on Tuesday. Analysts upgraded Advance Auto Parts to a strong buy, saying its turnaround story is paying off, while downgrading AutoZone to a still bullish outperform rating…”
https://www.cnbc.com/2021/07/28/stock-market-today-auto-parts-retail-stocks-rally-this-month.html