The auto industry hasn’t escaped from the slowing global economy which affected the stock markets due to the US credit rating downgrade. This month has been the worst since November 2008 for the Euro Stoxx Automobile and Parts Index.
Despite the slowing economy, its the luxury car makers who were able to withstand than the mass brands like Fiat and Renault. German premium auto manufacturers are by far the best bet. BMW, Audi, Mercedes and Porsche are the most stable brands because wealthy buyers still have enough money to spend than middle-class consumers.
