Auto Stocks Largely on the Uptick
June 12, 2018—Most auto stocks are trading positively during the month of June, as noted in a report by marketrealist.com.
According to Autodata, U.S. light vehicle sales’ seasonally adjusted annual rate rose year-over-year to 16.9 million units in May, up from 16.8 million units. Despite relatively weak passenger car sales, the growing popularity of pickup trucks and SUVs is maintaining a fair amount of optimism in the auto industry.
During the first 8 days of June, Toyota saw its stock performance rise better than 6 percent, while Ford increased nearly 4 percent.
On the other end of the spectrum, Fiat Chrysler has experienced a rough month, dropping more than 8 percent. Fiat Chrysler held its Capital Market Day on June 1, and gave off uncertainty regarding CEO Sergio Marchionne’s successor.