Heard on the Street: Investors seem reluctant to give manufacturers much credit for today’s high vehicle prices, leaving car stocks at lower than average multiples of expected profit
With gas prices on a wild ride, many consumers are exploring whether buying an electric vehicle could save them money in the long run. WSJ’s George Downs breaks down four factors to consider when buying a new car. Photo composite: George DownsSky-high vehicle prices are keeping auto-maker profits in the fast lane for now. How long these unusual times will last is largely a macroeconomic call in the short term, and investors expect the worst.
Many first-quarter results from car manufacturers this past week had one theme in common: pricing power. Numbers from General Motors , Mercedes-Benz , Ford and Volvo Cars all beat forecasts as high vehicle prices in offsetting the impact of fast-rising costs. Moreover, the companies all said they weren’t yet seeing signs of consumer weakness and maintained full-year guidance despite hurricane-strength headwinds from commodity prices.
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