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U.S. auto sales may boost global names
By: Emerging Money
Look to see tomorrow’s U.S. car sales numbers turn into good news for foreign manufacturers with real global reach as well as the equally globally oriented domestic names.
As you know, we are avid observers (and occasional buyers) of the global auto trade, especially the European manufacturers that are now moving into emerging markets in a huge way.
If the U.S. numbers come in as expected — somewhere around 11.5 million cars last year, or about 10.5% growth over the last 12 months — then expect to see the big players surge.
Other than Toyota, all the majors are selling a lot more cars into the United States, so this can easily translate into a big day ahead for Fiat (FIATY) — huge in Brazil — Daimler (DDAIF) and Volkswagen (VLKAY), which is huge in Russia.