The "Fast Money" traders discussed the slowing auto industry Tuesday, as the companies reported declining auto sale figures, signaling less demand for vehicles.

Trader Tim Seymour said he likes General Motors as the one to own because he said the pullback in auto sales is already priced into the stock.

Trader Guy Adami said he is weary of General Motors because the environment for the industry has mostly been positive in recent years, yet the automaker maintained a stock price below historic levels. GM stock is down 7 percent in the last 3 months and closed at $33.20 on Tuesday.

Adami also said "the downside in Ford looks potentially dramatic."

Ford's stock is down 11 percent in the last 3 months and closed at $10.92 per share on Tuesday.

Disclosures:

Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MAT, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VRX, VZ, XOM. short: EEM, SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM

Karen is long AAL, BAC, BAC short calls, C, DAL, EEM, EPI, EWW, DVYE, FB, FL, GLMP, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, MA, SEDG, SPY puts, TACO, WFM. Her firm is long ANTM, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, PLCE, SPY puts, SPY put spreads, WIFI, her firm is short IWM, MDY.

Dan Nathan is long SPY May put spread, XLV long June put, XLI long June put spread, XRT long June put

Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.