The Other Auto Story
There’s more to the auto industry than Tesla.
Everyone talks about Tesla (TSLA), and for good reason: Its stock is up 48% year to date as of this writing, and it sold 25,000 cars in the first quarter, a quarterly record for the company. But while Elon Musk's car company may seem to be the stock of choice for auto stock-buyers these days, it's not the only auto story investors should be paying attention to.
For the last several years, the members of the traditional auto sector-- Ford (F), General Motors (GM), Fiat Chrysler (FCAU) and the like--have been padding investor portfolios. Since 2009, when U.S. auto sales hit a near all-time low of about 10 million vehicles sold, the S&P 500 Automobiles index has risen 77%. In 2016, sales hit a record of 17.5 million vehicles sold, according to Morningstar's latest Automotive Observer report.
Bryan Borzykowski does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.