Shares of used car retailers are trading higher amid the approaching UAW strike deadline. A strike could impact vehicle production at large automakers and potentially drive used car prices higher.
Portfolio Pulse from Benzinga Newsdesk
Shares of used car retailers are trading higher due to the approaching UAW strike deadline. A potential strike could impact vehicle production at large automakers, driving used car prices higher.
September 14, 2023 | 6:32 pm
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POSITIVE IMPACT
AutoNation's stock is trading higher due to the potential UAW strike that could increase used car prices.
The potential UAW strike could disrupt vehicle production, leading to a shortage of new cars and increasing demand for used cars. This could drive up the prices of used cars, benefiting AutoNation.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
CarGurus' stock is trading higher due to the potential UAW strike that could increase used car prices.
The potential UAW strike could disrupt vehicle production, leading to a shortage of new cars and increasing demand for used cars. This could drive up the prices of used cars, benefiting CarGurus.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Carvana's stock is trading higher due to the potential UAW strike that could increase used car prices.
The potential UAW strike could disrupt vehicle production, leading to a shortage of new cars and increasing demand for used cars. This could drive up the prices of used cars, benefiting Carvana.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
CarMax's stock is trading higher due to the potential UAW strike that could increase used car prices.
The potential UAW strike could disrupt vehicle production, leading to a shortage of new cars and increasing demand for used cars. This could drive up the prices of used cars, benefiting CarMax.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80