Business
How ASX shares in the automotive sector outperformed the market in 2020
Alongside sectors that experienced significant earnings tailwinds in 2020, such as technology and healthcare, the automotive sector proved resilient, delivering strong returns.
Here are the ASX shares in the automotive sector that pushed higher in a year impacted by the coronavirus pandemic.
Eagers Automotive Ltd (ASX: APE)
The Eagers Automotive share price was a top performing ASX share in 2020, closing 30% higher.
The company provided the market with an upbeat guidance upgrade, expecting to deliver an underlying operating profit before tax in the range of $195 to $205 million for 2020, compared to $100.4 million for the prior corresponding period.
The guidance reflects the first full year of trading for the enlarged company…
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