The auto industry is fueled by rising demand for rental and electric cars. Given the industry’s steady growth prospects, investors could keep watching trending auto stocks Penske Automotive Group, Inc. (PAG), Group 1 Automotive, Inc. (GPI), and Cars.com Inc. (CARS).
Inflation has pained consumers for quite some time and is slowly losing its grip over the U.S. economy. Used car prices are coming down. For August, consumer prices for new vehicles were up 0.3% compared to July, while used car prices were down 1.2%.
