![]() AutoZone reported earnings of $25.69 per share for first-quarter fiscal 2022 (ended Nov 20, 2021), surging from the prior-year figure of $18.61. Nonetheless, electric vehicles in China managed to sustain the momentum, with sales of new energy vehicles skyrocketing 121% to 450,000 units in November. Vehicle sales in the country declined 9.1% year over year to 2.52 million units, tumbling for the seventh consecutive month. Meanwhile, the China Association of Automobile Manufacturers unveiled the November vehicle sales data in the world’s largest car market, which once again made it evident that chip shortage has been wreaking havoc on the auto industry. auto giant Ford F also made it to the week’s important news with the decision to invest $900 million for revamping manufacturing facilities in Thailand. Lithia Motors LAD continued its buyout binge by acquiring three Ford stores from Elder Auto Group. Auto retailer Asbury Automotive Group ABG hogged the limelight with the Stevinson Automotive buyout, which is expected to add $715 million in annualized revenues for the former. Last week, auto parts retailer AutoZone AZO and leading recreational vehicle maker Thor Industries THO delivered better-than-expected quarterly results.
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