Could India Become the Next Auto Giant?

Although America's biggest automaker GM filed for bankruptcy Monday, Fast Money trader Zachary Karabell says investors can still make money from the auto sector.

Considering GM’s decision had minimal effect on the S&P, Karabell thinks investors may be witnessing the death of America as the dominant force in the auto industry.

Could India become the next big auto giant?

Possibly. Anticipating growth of the driving class, India has been building new roads and bridges giving both Brazil and China a run for their money.

As a play Karabell recommends looking at Mumbail-based Tata Motors . As you might remember, Tata motors unveiled “The Nano” earlier in the year. It's a super compact vehicle making car ownership possible for many middle income families in India. The base model sells for $2,000.

Karabell also suggests checking Byd, which trades in Hong Kong. This company gained its name by making rechargeable batteries and chargers. They have also invested in the production of electric cars; a shift in the auto industry for sure.

And if you prefer to play at home -- Karabell suggests looking at Johnson Controls because he thinks “the battery business is picking up steam” – apologies for the mixed metaphor.

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Trader disclosure: On June 1st, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (WFC), (AAPL), (F), (TGT); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (TBT), (RIG), (NOK); Finerman Owns (TBT); Finerman's Firm And Finerman Own (BAC) Preferred Shares And Are Short (BAC); Finerman's Firm Owns (MRO); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (IJR), (MDY), (SPY); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (USO); Najarian Owns (AMAT) Call Spread; Najarian Owns (BP) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (HIG) Put Spread; Najarian Owns (PFE); Najarian Owns (MOS; Najarian Owns (XHB) Call Spread; Najarian Owns (MRO) Calls; Najaria Owns (NBR) Calls

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