With all the news surrounding the auto industry lately, perhaps it’s better that there isn’t an auto-related exchange traded fund (ETF). While the auto industry abroad is booming, the same cannot be said here in the U.S.
General Motors (GM) made headlines today as the first nationwide strike against the company in 37 years went into effect. The Union Auto Workers (UAW) said the reason for the strike was that workers want GM’s promise that they will keep their jobs, reports Tom Krisher and Dee-Ann Durbin for the Associated Press. GM also made headlines with its signed deal with China to export Buick Enclave sport utility vehicles (SUVs) over a four-year period starting in 2008, the Associated Press reports.
As the U.S. seems to be stepping down as a leader in the auto industry, two foreign countries that are stepping up include Japan and Germany. Toyota (TM), Mitsubishi and Honda (HMC) are some of the holdings in iShares MSCI Japan Index (EWJ). Similarly, Diamlerchrysler (DAI) and Volkswagon are included in iShares MSCI Germany Index (EWG).
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