Currently, no automotive exchange traded fund (ETF) exists. Maybe it’s because Asia has dominated the industry for years. Maybe the U.S. automotive factories that were shut down because of budget cuts is a factor. Who knows for sure? But some recent good news for the auto industry could change that.

General Motors (GM) reported "better-than-expected" earnings in the second quarter, according to Madlen Read for the Associated Press. The positive report helped boost GM’s stock 2.9% yesterday. In addition, GM will release two new hybrid SUVs later this year, the Tahoe and the Yukon, that will get better mileage than the Prius, according to a Marketplace segment on American Public Media.

Is this enough optimism for ETF providers to create a U.S. auto manufacturing and supply ETF? Or even a broader global automotive-based ETF?

Tags: Media, Transportation