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LEGAL UPDATE: Sean Petersen, NIADA senior vice president of legal and governmental affairs, talks about recent legal issues affecting independent dealers.  One change in Nevada regulates the use of starter-interrupt and GPS devices.

Auto Stocks Outperform Market

Auto Stocks Outperform Market Featured

The Kerrigan Auto Retail Index (The KAR Index), a composite of the seven publicly traded auto retail companies, rose 18.28 percent in July, significantly outperforming the S&P, which rose 3.56 percent for the month.

Industry news was very mixed for the month; so much of this rise was likely a recovery from being over-sold in the prior month. The KAR Index fell 11% in June.

Year to date, The KAR Index is now down 10.34 percent. The KAR Index was supported by strong increases in each of its component stocks, led by Penske and Group 1, up 25.94 percent and 26.26 percent, respectively. These two stocks had the steepest declines in June, in reaction to Brexit, as they both have significant operations in the U.K. and exposure to a weakening pound.

Last modified on Monday, 08 August 2016 18:51
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