You've certainly seen low rates help home builders. In fact, over the past two years, you've actually seen car makers and home building stocks go in opposite directions:
So can this divergence really last, are should we expect to see a shift?
At the very least, ConverEx Chief Market Strategist Nicholas Colas thinks the auto recovery will continue. "Will we hit seventeen million cars sold this year? Probably not," Colas said. "We could expect to see a number in the mid-sixteen millions, though."
And Colas notes that automakers still have a big red lever to pull. "Leasing," Colas explains, "is about to become a more important arrow in the quiver of most domestic car companies." This increased emphasis on leasing could be good for an extra one or two million cars sold.
Not everyone, however, thinks that the auto recovery still has legs. Rod Lache, Deutsche Bank's automotive analyst, notes that when you compare the auto sales number with other key economic measures, "You might argue that from the bottom, the auto recovery has been even greater. After all, we saw such a sharp deterioration."
What it might ultimately come down to is Europe. As Colas notes about the auto sector, "Anyone with European operations has felt a world of pain. Some of the worst sales number seen in decades have come from Europe in the last six months." But he adds that there is hope, at least, for a European turnaround.
So will it be an improving Europe that helps auto stocks, or U.S. sales numbers that still have room to run? While no one knows what the future may bring, this much is clear: Investors can find a couple of good reasons to kick the tires on an American automaker or two.