Rising global demand, technological innovations, and an increased emphasis on safety and sustainability are fueling the auto rental industry. Therefore, join me as I discuss why quality auto stocks Group 1 Automotive, Inc. (GPI), Rush Enterprises, Inc. (RUSHA), and Cars.com Inc. (CARS) are better poised for gains than CarMax, Inc.’s (KMX).
Used car company KMX reported a net sales and operating revenue of $7.08 billion in the fiscal second quarter that ended August 31, 2023, a steep 13.1% decline from the previous-year quarter. Its gross profit declined 5.5% year-over-year to $696.77 million and net earnings fell 5.8% from the year-ago quarter to $118.64 million.
