BUZZ-Auto retailers gain as US Supreme Court strikes down Trump's tariffs

Reuters02-20
BUZZ-Auto retailers gain as US Supreme Court strikes down Trump's tariffs

** Shares of auto retailers rise after the U.S. Supreme Court rules against President Donald Trump's tariffs

** The court upheld a lower court's decision that the president's use of a 1977 law, meant for use in national emergencies, exceeded his authority

** Group 1 Automotive GPI.N up 3%, Asbury Automotive ABG.N rise nearly 1%, Autonation AN.N inches up nearly 0.2%,

** Cars.Com CARS.N also rise 2.1%, Penske Automotive Group PAG.N up 1.4%

** The ruling delivers relief to sectors hit hardest by tariff-driven cost spikes, notably automobiles and auto parts

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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