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Pep Boys - Manny, Moe & Jack Message Board

  • daninfw04 daninfw04 Nov 29, 2009 1:20 PM Flag

    S&P Research Report

    "Our fundamental outlook for the automotive retailers
    sub-industry is positive, reflecting our view of
    improving sales prospects.We believe we have
    seen the bottom of the sales cycle. Following the
    closure of nearly 800 Chrysler dealerships, we
    expect additional closings in 2009, mostly by General
    Motors brands.We still see a weak residential
    housing market, a more-difficult credit environment
    and lower consumer confidence, limiting demand
    for big ticket items such as cars. However, bright
    spots include the sharp decline in gas prices from a
    peak above $4 and signs of economic improvement;
    S&P Economics estimates that the recession ended
    in the third quarter as real GDP grew 3.5%."