Technical Analysis on Sonic Automotive Inc. and Penske

Technical Analysis on Sonic Automotive Inc. and Penske Automotive
Group Inc. - Strong Sales for Auto Dealerships 
NEW YORK, NY -- (Marketwire) -- 11/12/12 --   Auto dealerships, such
as Sonic Automotive Inc. and Penske Automotive Group Inc., faced
challenging times during recession lows as consumers put off
purchasing big ticket items for brighter times. It seems that those
times may have arrived. So far in 2012, with around 12 million units,
auto sales are up 13.8 percent compared to last year. Pent up demand,
a record average age of cars on the road and low interest rates are
helping to boost sales, which reached 1,090,000 vehicles in October,
up 6.8 percent year-over-year. has initiated technical
analysis on Sonic Automotive Inc. (NYSE: SAH) and Penske Automotive
Group Inc. (NYSE: PAG) which serves the Auto Dealerships industry.
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Although third quarter financial results show vehicle sales
improvements, some hurdles remain. A number of industry players
reported dips in revenues per vehicle and competition remains
extremely intense with thousands of independent dealers and private
individuals in the business. Read our technical analysis on Sonic
Automotive by clicking on  
Moreover, companies with a focus on used car sales have found their
margins under pressure lately as manufacturers offer incentives and
attractive pricing on new cars, thus reducing the appeal of used cars
without lower prices. While challenges remain, the industry currently
looks well positioned to finish 2012 on a high note. Our technical
analysis on Penske Automotive Group can be accessed at  
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