Since cars are big-ticket items, a drop in spending has manifested itself with utmost clarity in the auto retail space. US motor vehicle sales were down some 18% in June year over year. As a result, many car retailers have been punished in the market.

At first glance, Asbury Automotive (ABG) looks like it could be a value play. It trades at a discount to its book value, has a P/E of 7, and pays a dividend of almost 7%!

Bill Rempel's value watchlist. These are simply "value" names on Bill's watchlist. There's a link to the watchlist in this post. Bill writes both as a trader and a value investor.