Despite macroeconomic concerns, auto sales in the US are expected to remain robust due to increased demand. So, quality auto stocks Continental Aktiengesellschaft (CTTAY), Allison Transmission Holdings, Inc. (ALSN), and Garrett Motion Inc. (GTX) could be wise additions to your portfolio.
According to GlobalData, US Light Vehicle sales totaled 1.30 million units in July. The annualized selling rate increased marginally in July, rising from 15.7 million units per year in June to 15.8 million units per year in July.
