The auto industry is among the few sectors that has fallen prey to U.S. President Trump’s steel and aluminum tariff announcements. The sector is a big consumer of steel, which makes the bottom line of auto companies vulnerable to rising raw material costs. Also, changing preferences of buyers from traditional passenger cars to SUVs and crossovers is another threat to the sector (read: Auto ETFs & Stocks Worth Buying Despite Weak April Sales).
Beat Ratios Upbeat in Auto Earnings: Time to Buy the ETF and Stocks?
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