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With the resurgence of COVID-19 cases due to the rapid spread of its Delta variant, people are expected to continue using private cars rather than public transport, driving up the demand for used cars. Furthermore, with an increase in car-related services on digital platforms, the automotive retail industry could continue to gain significantly in the coming months.
Given this backdrop, we think it could be wise to bet on automotive retailer stocks KAR Auction Services, Inc. (KAR) and Cars.com Inc. (CARS). Wall Street analysts expect these two stocks to rally more by than 35% in the near term.
