Forget EVs: These 3 Stocks Are a Better Way to Play the Auto Recovery
The auto industry has had a rough go of it over the past few years. After a mini-recession resulting from the U.S.-China trade war sent auto sales down 1.4% last year, the COVID-19 pandemic put a big dent in sales this year as people quarantined and couldn't get to dealerships.
Yet as people continue to avoid public transportation or ride-hailing companies, Americans appear to be turning to owning their own cars again, either used or new. After April auto sales were basically cut in half from pre-COVID February levels, auto sales have experienced a bounceback and have nearly recovered back to pre-COVID levels as of August.
Source Fool.com
