Carmakers’ Stocks Stagnant After Stale February

Although there had been some growth in sales through the end of last year, February was fairly stagnant for the auto industry. Because of that, those companies’ stocks have been pretty flat since the end of last month. Maybe instead of buying new cars, people are starting to understand buying used cars online is a lot more cost effective.   Major automakers reported lower U.S. new vehicle sales for February on Thursday as consumerMajor automakers reported lower U.S. new vehicle sales for February on Thursday as consumer demand continued to cool despite strong crossovers and SUV sales, but surprisingly weak pickup truck sales dented the share prices of Detroit carmakers."Trucks are higher-margin products and from a mix standpoint, February was disappointing," said John Toohey, head of equities at USAA Asset Management Company in San Antonio, Texas, which has $166 billion in assets under management. "If this continues, that's a profitability headwind." Continue Reading

The following article Carmakers’ Stocks Stagnant After Stale February is courtesy of CarDaddy News

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