Can auto become a hot investment?

Nov 01, 2010 | 01:07 PM |

As investors await an initial public offering of shares by General Motors Co., auto companies from the United States to Japan are looking toward improved prospects for sales and profits over the next 12 months, an analyst at the Bedford Report, owned by Paragon Financial Ltd. in Hong Kong, said in a research report.

The auto industry has seen sales improve in recent quarters, and automakers have started investing again, with upcoming electric-vehicle lines generating a lot of interest.

"This is a marked improvement on the situation the industry found itself in just over a year ago, with companies facing bankruptcy, plants closing and investment at a standstill," the Bedford Report analyst said. "With the recent IPO announcement from Detroit's General Motors, many investors have their attention focused on the auto industry. Shares for the new (GM) are expected to start trading sometime in mid-November."....

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