Makes sense: People are buying fewer cars, so they’ve got to get more life out of the ones they already own. Hence they’re doing more DIY repair and buying parts at Autozone (AZO). The company knocked the ball out this morning, and is trading at an all-time high. An all-time high! So basically the economic winners are used car parts, Wal-Mart (WMT) and Dollar Menu items at McDonalds. Got it.
Let’s just hope our fleet of cars doesn’t resemble Cuba’s in 40 years.
Note that at noon, Ford comes out with its February sales report, announcing just how many cars Americans are not buying anymore.