Whatever you believe happened back then, we can probably all agree that GM has not been terribly in touch, lately. Well they say necessity is the mother of invention and as GM scratches and bites for survival – their salvation may come from alternative energy.
According to Time magazine, GM will release an average of one new hybrid model every three months for the next two years, beginning with the industry's first full-size hybrid SUVs late this year.
And it’s not just GM. Toyota is pouring money into its Prius hybrid hoping to launch a version by 2010 that can be charged by plugging it into any standard wall socket. And Honda and all the big automakers are, in fact doing much the same.
No doubt about it – there’s a lot riding on these new cars. And there are lots of trades but Guy Adami says only one can go the distance
I think it all comes down to BorgWarner , he says. They’re a name that should win in the long run because they make cars run more efficiently. But don’t chase it.
(According to the firms’ website, BorgWarner creates products to manage engines for fuel efficiency, reduced emissions and enhanced performance. BorgWarner is an expert in engine timing, turbochargers, emission systems, ignition technology, air and noise management.).
Other than this firm, the traders don't see a lot of opportunity in the automobile sector right now. Instead they suggest the following alternative energy plays:
I’d look at Cree on a pullback, Guy Adami says.
I’d look at Dynegy and Calpine as green trades, adds Karen Finerman. I think nat gas has a much brighter future than electric cars.
Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to email@example.com.
Trader disclosure: On Apr 14th, 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 (AAPL), (BAC), (BX), (EEM), (FXI), (F), (PBR), (CSCO), (FDX), (TCK), (SWC); Syemour's Firm Owns (RIG); Terranova Owns (X), (KCE), (AMGN), (DELL), (IBM), (BP), (BRCM), (POT); Terranova Owns (DIS) Calls, (COP) Calls, (HES) Calls, (JPM) & (JPM) Calls, (INTC) & (INTC) Calls, (XOM) & (XOM) Calls; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (AXP), (CSCO), (MSFT), (RIG); Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Owns (BIIB) Call Spread; Finerman's Firm Owns (BAC) Preferred; Finerman Owns (BAC) Preferred; Finerman's Firm Is Short (MDY), (SPY), (USO), (BAC), (WFC), (BPO), (ERG); Finerman's Firm Is Short (MDY), (SPY), (USO), (BAC), (WFC), (BPO), (ERG)
CNBC.com with wires