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The robust domestic demand and consumer spending amid the sluggish new car production should drive the used car market’s growth in the near term. As a result, AutoNation, Inc. (AN) and Group 1 Automotive, Inc. (GPI) is well-positioned to benefit substantially.
However, with bleak financials and limited growth prospects, used car stocks Carvana Co. (NYSE:CVNA) and CarMax, Inc. (KMX) are best avoided now.
