The auto sector is grabbing investor attention as major companies like Stellantis (STLA) and Ford (F) report underwhelming second-quarter earnings. CarGurus director of industry Insights and analytics Kevin Roberts joins Asking for a Trend to discuss the state of the auto industry.
Despite these disappointing reports, Roberts says the auto industry is still "quite healthy." However, he points out that two factors — "revenge spending" by consumers and the semiconductor chip shortage — "pushed prices really, really high." Roberts explains that current auto industry earnings suggest the sector is going through "a bit of a rebalancing right now."
Regarding electric vehicles (EVs), Roberts finds the industry to still be riding "the long-term trend of where it’s going. The question really is what the adoption rate curve is going to be." He points out that there’s currently an imbalance between supply and demand for EVs.
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