From Ferrari To Ford – Global Auto Stocks Are Crashing

by Tyler Durden
ZeroHedge.com
Wed, 10/10/2018

In Italy, Ferrari and Pirelli plunged and were halted Limit-down… with China cracking down on luxury goods and broader auto fears…

As Bloomberg reports, Autos “preannouncement gloom continues,” according to a note from Evercore ISI says, adding that as feared “we are testing the floor as the group traded down again yesterday on negative news from coating provider PPG,” which has ~35% exposure to Automotive OEM, Parts & Aftermarket, according to the brokerage.

Additionally, Evercore ISI notes that 2H18 will be “ugliest reporting season” for suppliers since 2015.

European Autos are trading at their lowest levels of the Trump era…

The Rest…HERE

This entry was posted on Wednesday, October 10th, 2018 at 11:58 am and is filed under Economics. You can follow any responses to this entry through the RSS 2.0 feed.