Morgan Stanley downgrades American car stocks, with GM and Ford stock prices dropping more than 5% at one point.
Due to the intensification of price wars, market share squeeze, insufficient consumer purchasing power, and the rising default rate of credit, profit of usa auto companies is under pressure. As a result, Morgan Stanley is pessimistic about the future of America's car-mart industry and has downgraded the ratings of multiple American auto companies.
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European auto stocks have dropped to a record low, but investors still choose to avoid them.
European auto stocks are currently very unpopular, to the point that investors are continuously reducing their shareholding.
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European car sales remained flat in July, with overall growth dragged down by weak demand for electric cars in Germany.
In July, auto sales in Europe were basically flat compared to the same period last year, due to the further weakening of demand for electric cars in Germany, the largest automotive market in the region.