Should You Steer Clear Of Auto ETFs & Stocks On Weak Sales?
Zacks Investment Research | Jun 01, 2017 11:07PM ET
After seven years of growth, the auto industry seems to be plateauing this year with sales declining for the fifth consecutive month. Notably, sales dropped 0.5% year over year to an annualized 16.7 million units in May. This has set the stage for the first annual decline since 2009, ending a string of seven annual gains for the industry – a streak not seen since the 1920s.
The numbers were discouraging as Americans generally boost their purchase of cars in May to take advantage of higher incentives and Memorial Day bonanzas ahead of the summer selling season (read: Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.