July Auto Sales Surge: 4 Stock Picks - Zacks.com
The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. auto sales came ahead of expectations in July, fueled by demand for light trucks and sport-utility vehicles rather than fuel-efficient cars. Pent-up demand, easy credit and lower gasoline prices prompted demand for vehicles. Banking on the positives the auto sector is enjoying, it would be a prudent move to invest in certain top-ranked auto stocks. The seasonally adjusted annual sales rate (SAAR) climbed 3. 2% from June to 17. 6 million in July, its second highest tally in a decade. Meanwhile, domestic vehicle sales rose 5. 2% to an annualized rate of 14. 2 million in July, which exceeded the consensus estimate of 13. 5 million. The SAAR came above the 17 million mark in four out of the seven months of 2015, keeping the industry on track for its best year since 2000. On a 12-month rolling average basis, the SAAR is already at 16. 8 million in June, a new recovery high. Sales had touched its nadir at 9 million in Feb 2009. Automakers Sales Boosted by SUVs, Pickups. Light trucks set the pace in July, rising 11%, outselling cars for the 23rd successive month in July. Source: www.zacks.com
