“I have little or no inventory,” Paddor said in the article. “As soon as we get new models, they’re gone. People are ready to buy right now.”
While U.S. automakers may face some headwinds in overseas markets due to a stronger U.S. dollar, cheaper foreign currencies has helped lower cost of parts made outside the U.S. [Strong U.S. Dollar Could Pressure S&P 500 Earnings, ETFs]
Additionally, since CARZ is a fund with global exposure, cheaper foreign currencies could bolster foreign carmakers sales as well. For instance, Japan makes up the largest country weight in CARZ at 36.6%, followed by U.S. 23.3%, Germany 20.0%, South Korea 7.8%, France 5.2% and China 4.4%.
First Trust NASDAQ Global Auto Index Fund
For more information on the auto industry, visit our automobiles category.
Max Chen contributed to this article.