© Reuters. 3 Undervalued Automotive Stocks to Scoop Up Now
New car sales plunged amid the COVID-19 pandemic, but the automotive industry seems now to be on a path to recovery. So, we think it is wise to bet on undervalued automotive companies Oshkosh (NYSE:), AutoNation (NYSE:), and Isuzu Motors (ISUZY) to reap maximum benefits. Let’s discuss.Global car sales fell sharply amid the COVID-19 pandemic as people retreated to their homes, where they spent most of their time under lockdown mandates with nary a thought for automobile purchasing. With the gradual economic recovery, however, companies in the sector are witnessing increase in demand. In fact, in March, the U.S. vehicle market witnessed a strong recovery and saw its first quarter 2021 sales rebound to pre-pandemic levels.
Governments worldwide are pushing for increased use of electric vehicles (EVs) to transition their countries to a clean energy future. The demand for conventional,