Zacks Investment Research | Aug 22, 2016 10:37PM ET
After hitting record levels during the first half of the year, U.S. auto sales increased at a relatively slower pace in July. Boosted by a variety of factors, such as cheap gasoline, auto sales had enjoyed appreciable growth before last month. However, as pent-up demand seemed to be petering out, it seemed that demand for automobiles was plateauing.
However, fresh data from research and consulting firm TechnoMetrica Market Intelligence shows us that demand for the sector is likely to pick up sharply over the rest of the year. Adding auto stocks to your portfolio seems to be a smart choice at this point in time.
Sales Hit Record in 1H16, Pace Slips in July
During the first half of 2016, Zacks Investment Research
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