"Auto retailers outpaced the general market for most of the day Tuesday, posting one of the strongest gains among industry groups.
Many in the group, made up primarily of auto dealership chains, are set to report earnings next week. And while data in many industries have seesawed back and forth, analysts are calling for a strong quarter in the group, based partly on March auto sales numbers, reported early this month, that showed no pullback by consumers.
"We're definitely in recovery mode," said analyst Rick Nelson with Stephens, with sales being driven by record vehicle age and replacement demand, credit availability and more aggressive lease terms, stepped up new product introductions with greater fuel efficiency and healthy trade-in values." [Read more]
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