US Auto Retail Ecosystem 5-min Read: Top #10 Themes From Recent Corporate Access, Including June Conference Call Series, Dealer Tours (SoCal and UK), NIADA Convention, Pre-Quiet Period Checks, and more...

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US Auto Retail Ecosystem 5-min Read: Top #10 Themes From Recent Corporate Access, Including June Conference Call Series, Dealer Tours (SoCal and UK), NIADA Convention, Pre-Quiet Period Checks, and more...

J P M O R G A N North America Equity Research

30 June 2026

US Auto Retail Ecosystem

5-min Read: Top #10 Themes From Recent Corporate

Access, Including June Conference Call Series, Dealer

Tours (SoCal and UK), NIADA Convention, Pre-Quiet

Period Checks, and more...

Our 7th Annual Auto Retail Ecosystem June Conference Call Series wrapped up Autos & Auto Parts

ACyesterday, featuring seven engaging fireside chats with public franchise dealers Rajat Gupta

(ABG, GPI, LAD, PAG, and SAH) and industry experts (The Presidio Group and (1-212) 622-6382

NAAA). We gained insights into near-term industry trends, expectations for 2H26, rajat.gupta@jpmorgan.com

and explored key themes relevant to the auto retail ecosystem. We also recently Jash Patwa

attended the NIADA (National Independent Automobile Dealers Association) (1-212) 622-5472

Convention in Denver, CO, and our key takeaways are folded in below. See our recap jash.patwa@jpmchase.com

notes on ABG, GPI, LAD, PAG, SAH and The Presidio Group. We also hosted 5 Yash Beswala

publicly traded dealers for a tour in SoCal last month (click here), visited Chinese (1-212) 622-0028

yash.beswala@jpmchase.com

brand dealerships of LAD and PAG in UK (click here), and recently published our 7th J.P. Morgan Securities LLC

annual dealer survey (click here). Below we highlight our top 10 themes:

• Consumers continue to hold on. Management teams broadly described a

steady but cautious consumer, with no clear deterioration in demand yet but

affordability intensifying as the gating factor. June SAAR trends reinforce this