Declining inflation and inflating auto sales underscore the prospects of the U.S. auto dealership industry. Therefore, top Wall Street auto stocks like Asbury Automotive Group, Inc. (ABG), Group 1 Automotive, Inc. (GPI), and Sonic Automotive, Inc. (SAH) could be sound watchlist additions now.
Inflation, which has pained consumers for quite some time, is slowly losing its grip over the U.S. economy. New and used car prices are coming down. For July, consumer prices for new autos were down 0.1% compared to June, while used car prices were down 1.3%. This might translate to greater auto demand.
