Summary: Auto sales continue to suffer from COVID-19, but sales declines are expected to have eased a bit more in June, setting up the early stages of an auto sector recovery. However, adversity still remains, particularly in commercial sales, as vehicle fleet operators may see a slower pickup in demand than the retail market. EVs remain a segment to be watched as the IEA predicts they may not lose any ground at all versus the prior year.
Related ETF: First Trust NASDAQ Global Auto Index Fund (CARZ)
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