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Industry News
Auto Industry NewsWays to Keep Winning in the Auto GroupShares in the auto industry have been among the leading performers over the past year, with the Dow Jones US Automobiles & Parts Index advancing 140%.Given the massive run-up in auto equities, is there money still to be made in these stocks?I believe the answer is yes. While easy money has been made in auto shares anticipating a recovery, there is still more to be earned.Let's look at global auto demand picture first:In recent months, US auto sales have recovered to around 11 million units on an annualized basis, from a low of 9.2 million units set at the depth of the recession. Current economic indicators are forecasting economic growth in the period ahead. The Conference Board's leading economic index is up for ten straight months. The Federal Reserve’s minutes released last Wednesday show that the central bank has raised its 2010 growth forecast to 3.2% from 3.0% forecasted last fall. US auto sales can hypothetically tally 11 million to 12 million units in 2010.Meanwhile, the outlook for auto demand in emerging markets is robust. China’s Commerce Ministry foresees double-digit growth in auto sales this year.
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