Looking at the internal corporate numbers for European auto manufacturers, 2016 was a reasonably positive year. Used car availability was generally low, resulting in relatively more attractive new car values. In the US truck and SUV sales held up overall industry numbers to respectable levels and earnings projections generally held steady. The Chinese market was looking generally robust, particularly for premium vehicles, and even European new car registrations provided a positive surprise while Brexit impact “was limited and the UK market held up relatively well.” So why did European auto stocks struggle, trading below historic averages? Deutsche Bank’s...
European Auto Stocks – Fundamentals? Not Good, But Thankfully They Are "Blessed" By ECB: Deutsche Bank
Mark Melin

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Subscribe and get an extra 20% off annual with code LETTERSMark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.