Technical Analysis on Sonic Automotive Inc. and Penske Automotive Group Inc. - Strong Sales for Auto Dealerships
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 11/12/12 -- Auto dealerships, such as Sonic Automotive Inc. and Penske Automotive Group Inc., faced challenging times during recession lows as consumers put off purchasing big ticket items for brighter times. It seems that those times may have arrived. So far in 2012, with around 12 million units, auto sales are up 13.8 percent compared to last year. Pent up demand, a record average age of cars on the road and low interest rates are helping to boost sales, which reached 1,090,000 vehicles in October, up 6.8 percent year-over-year. StBulls.com has initiated technical analysis on (NYSE: SAH) and (NYSE: PAG) which serves the industry. These reports are free upon registration at
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Although third quarter financial results show vehicle sales improvements, some hurdles remain. A number of industry players reported dips in revenues per vehicle and competition remains extremely intense with thousands of independent dealers and private individuals in the business. Read our technical analysis on Sonic Automotive by clicking on
Moreover, companies with a focus on used car sales have found their margins under pressure lately as manufacturers offer incentives and attractive pricing on new cars, thus reducing the appeal of used cars without lower prices. While challenges remain, the industry currently looks well positioned to finish 2012 on a high note. Our technical analysis on Penske Automotive Group can be accessed at
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