Just like the once-storied Michigan basetball team, the state’s auto industry has been licking their wounds, too. In fact, former superstar, GM is just trying to hang on after last summer’s oil surge kept showrooms empty.
Once the world’s top seed, GM took a deep fall after it stayed committed to behemoth SUVs for far too long.
But while the domestic car makers struggle, those overseas are seeing an uptick in their business.
“Global car demand is climbing in the emerging world; It’s up 22% in India, and up 22% in China,” says emerging markets trader Tim Seymour. "And demand has been strong in Brazil too."
What's the trade?
Seymour suggests India's Tata Motors, for long-term growth.
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Trader disclosure: On Mar. 20th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AA), (AAPL), (BAC), (EEM), (FXI), (TCK); Seymour's Firm Owns (PBR); Terranova Owns (KCE), (FXC), (XBI), (BRCM), (WYNN), (INTC), (JOYG), (DELL), (XOM), (IBM), (POT), (X), (JPM): Terranova Owns (COP) Calls; Terranova Owns (HESS) & (HESS) Calls; Terranova Owns (DIS) & (DIS) Calls; Terranova Owns (AMGN) & (AMGN) Calls; Macke Owns (GE), (SDS), (POT); Macke Is Short (BRK.b); Najarian Owns (C) Call Spread; Najarian Owns (GS) Call Spread; Najarian Owns (GD) Call Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (POT) Call Spread; Najarian Owns (MSFT) & (MSFT) Calls; Najarian Owns (TGT) Call Spread; Najarian Owns (XHB) Call Spread
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