3 Undervalued Automotive Stocks to Scoop Up Now By StockNews
© 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,
Lots of the changes occurring within the automotive market today, including tightened credit markets in a capital-intensive business and increased authorities involvement are the newest international challenges. A 1,250 cc Screamin’ Eagle version of the Revolution engine was made out there for 2005 and 2006, and was present thereafter in a single manufacturing model from 2005 to 2007. In 2008, the 1,250 cc Revolution Engine turned commonplace for the entire VRSC line. Harley-Davidson claims 123 hp (ninety two kW) at the crank for the 2008 VRSCAW mannequin. The VRXSE Destroyer is supplied with a stroker (75 mm crank) Screamin’ Eagle 79 cubic inch (1,300 cc) Revolution Engine, producing more than one hundred sixty five hp (123 kW).