Welcome to the Daily 5 report for Tuesday, April 22.
Even with today's market rally, April is shaping up to be one of the most volatile months on Wall Street in years, and the automotive industry has been in the thick of it because of the broad tariffs being placed on car imports, parts and metals.
We've been keeping up with the carnage with this live compilation of auto stocks each day since April 1, and we'll keep this tool active for the foreseeable future.
The biggest surprise among automotive producers? No, it's not Tesla Inc. with its 15 percent slide from April 1 through April 21. It's Stellantis with a 17 percent slump.
U.S. dealership groups haven't suffered near as much as the automakers. In fact, shares in Penske Automotive Group Inc. actually rose 3.1 percent. Lithia Motors has fared the worst so far, down 4.4 percent. But with today's rally, AutoNation, Penske, Group 1 Automotive and Sonic Automotive were all in the black for the month to date.
Read more: Live updates on tariff news and impacts
Interactive map: Auto manufacturing sites in Canada, the U.S. and Mexico
Used-car giants Carvana and CarMax aren't doing as well, with Carvana slipping 7.9 percent and CarMax plunging nearly 21 percent. Carvana shares rallied enough today to get nearly to breakeven for the month.
Suppliers, particularly those in the technology segment, have suffered the most damage. Luminar Technologies Inc. plummeted 27 percent and Cooper-Standard dove 22 percent. Several other Tier 1 suppliers posted double-digit drops.
Of course, by this afternoon markets were roaring back, so keep an eye on our real-time
coverage for today's closing prices.
Back to the world of used cars, C.J. Moore has taken a close look at how large U.S. dealership groups are innovating with that segment of their business.
The top 100 dealership groups collectively sold 3,398,780 used vehicles in 2024, up 5.7 percent, according to our report. The top 10 groups alone sold 1,776,605 used vehicles — 52 percent of the total. The top six publicly held groups sold 1,471,232 used vehicles, up 8.3 percent year over year.
Meanwhile, Mercedes-Benz will make inroads into the top end of the luxury segment with a blinged-out passenger van, Urvaksh Karkaria reports today.
The German automaker teased the electric model via the heavily chromed Vision V concept. Mercedes did not reveal propulsion or performance details, or say when the production van would arrive in the U.S. It will also be marketed in China, Karkaria wrote.
Finally, consumer frustrations with electric vehicles have eased in the U.S., according to the results of a new McKinsey & Co. survey. Pete Bigelow reports today that 76 percent of current EV owners say they'll stick with EVs for their next purchase. Fifteen percent said they intend to switch to a plug-in hybrid.
The latest numbers present a sharp turnaround from previous results in the consulting firm's annual Consumer Pulse survey. Last year, 46 percent of U.S. EV owners said they were likely to return to combustion engine vehicles the next time they made a car purchase, Bigelow wrote.
That's it for now. Have a great rest of your day.
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— Philip Nussel, online editor
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