Heard on the Street: Cars don’t offer value at the moment, but car stocks just might.
Every day, millions of sailors, truck drivers, longshoremen, warehouse workers and delivery drivers keep mountains of goods moving into stores and homes to meet consumers’ increasing expectations of convenience. But this complex movement of goods underpinning the global economy is far more vulnerable than many imagined. Photo illustration: Adele MorganDon’t worry too much about a recession hitting Detroit. The real concern should be normalizing supply.
The U.S. new-car market is stuck in a low but lucrative gear as manufacturers struggle with production.warned Friday that its second-quarter profit would be lower than previously expected due to parts shortages curtailing deliveries to dealers. First-half sales across the market came in at about 6.8 million, according to Wards Intelligence, down 17% from the same period last year.
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