Trump Victory Brings Uncertainty to Auto Sector Around U.S. Trade Agreements
Many automotive stocks declined on the morning of Nov. 9 on fear of a Donald Trump presidency. We think selling for now is due to massive uncertainty on what Trump will do on a variety of policies, and we will not be changing our auto fair value estimates on indiscriminate selling until we have more clarity on policy. Still, despite a Republican House and Senate, many Republican members did not support Trump and may oppose his anti-free trade agenda. We think abolishing NAFTA or the Trans-Pacifi...Continental is an automotive industry supplier. Co.'s automotive divisions comprised of: Chassis & Safety, which develops and produces systems that provide safety and enhanced vehicle dynamics; Powertrain, which develops solutions for gasoline and diesel engines, as well as hybrid and electrical drive systems; and Interior, which provides solutions for information management within vehicles and networking between vehicles. Co.'s rubber divisions comprised of: Tires, which provides tires for passenger cars through trucks, buses and construction site vehicles to special vehicles, motorcycles and bicycles; and ContiTech, which develops products made from rubber and plastic.
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