Auto Stock Roundup: F Levels Up EV Strides, AZO Posts Solid Q3 Results & More
Zacks Investment Research | May 31, 2021 08:11AM ET
Last week, the European Automobile Manufacturers Association released data for commercial vehicle registrations made in April 2021. New registrations edged up 179.2% year over year to 171,283 units. The upside was a result of COVID-induced demand slump in the year-ago period. Many of the European Union markets saw double-digit surge in April 2021. Registrations in major markets like Spain, Italy and France skyrocketed 547.3%, 642.3%, and 412.9%, respectively. Germany witnessed year-over-year growth of 60% in commercial vehicle registrations.
Last week, Ford Westport's Stako Acquisition to Enhance Product Portfolio )
h3 Price Performance/h3The following table shows the price movement of some of the major auto players over the past week and six-month period.
In the past six months, all stocks have increased, with Ford being the maximum gainer. In the past week, all stocks have gained apart from Advance Auto Parts (NYSE:AAP) and AutoZone.
h3 What’s Next in the Auto Space?/h3Car enthusiasts will be keeping a close watch on May 2021 U.S. car sales, which will be coming out this week. Industry watchers would be closely tracking the sales reports of auto biggies including Ford, Volkswagen (DE:VOWG_p), Honda and Toyota. Investors are awaiting the quarterly results of Advance auto Parts, scheduled to be out on Jun 2.
h3 Zacks' Top Picks to Cash in on Artificial Intelligence/h3In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.
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