Earnings are expected to rise 30% this year to a loss of $6.08 after losing $8.66 last year. Shares of Carvana have fallen 95.6% over the last 2 years, although they have rallied 151% in 2023. ( CVNA Quick Quote CVNA - Free Report)Ĭarvana became a darling of Wall Street during the pandemic but those days are over. Given the aging car market, should AutoZone be on your watch list? AutoZone isn’t cheap, with a forward P/E of 20. Shares of AutoZone are flat on the year but it’s been a big 5-year winner, gaining 318% versus just 53% for the S&P 500 during that time. Same store sales were up 1.9% year-over-year even with weaker than expected sales in March. ( AZO Quick Quote AZO - Free Report)ĪutoZone, the auto parts retailer with stores in the United States, Mexico and Brazil, just reported fiscal third quarter earnings. How can anyone afford to get a new car anyway? But for investors, the question is where the investing opportunities are this year. But another issue is the price of both new and used autos. Part of the blame falls with the auto industry for making more reliable cars that are simply lasting longer. For both cars and trucks it’s now 12.5 years, the oldest ever. The average age of the cars on the road in the United States continues to get higher. This week, Tracey was joined by Zacks Stock Strategist, David Bartosiak, who is also the editor of the Blockchain Innovator and Surprise Trader newsletters, to talk about the auto industry in 2023. Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. to Episode #359 of the Zacks Market Edge Podcast.

(24:35) - Episode Roundup: AZO, PAG, LAD, CVNA, KMX, GM, F, TM, TSLA.(19:00) - What Headwinds Does The Automotive Industry Face In The Coming Future?.(11:40) - Regulations For Emissions: Are Car Manufactures Reaching The End of An Era?.(2:00) - Is Now A Good Time To Invest Into Auto Retailers?.

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