Posted in company, funds, sectors

Auto Market Update

The auto parts industry’s average market cap is $20.85 billion alongside annual earnings of $7.79 a share, and price-earnings growth of 1.73 over five years. Broader numbers of tire companies and other more specific players are fragmented, just as auto makers’ historical estimates.

Fiat Chrysler Automobiles NV (FCAU) is going to spin off super-car Ferrari this year and seek partners to compete with top commercial manufacturer Toyota Motor Corp (TM). Mitsubishi Motors Corp (7211:JP) will stop making vehicles in Illinois and move production to Japan and Russia.

The stock of Advance Auto Parts Inc (AAP)  tapped a new 52-week high of $165.20 on Jul 7 after the discount auto parts retailer became constituent of the S&P 500. Early last year the company closed the acquisition of General Parts International Inc.



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