in China. And up 68% year over year in India. Phenomenal. And they apparently did not need a cash-for-clunkers program to do it. Rapid economic growth is occurring—just not in the United States or Europe.
Rapid growth in auto sales will have potential pricing consequences in world markets in oil and steel, and in local markets for aftermarket auto parts, and so on. As auto dealers and their employees do well, there may be a general trickle-down effect in consumer goods throughout their domestic economies. In other words, revenues create investment opportunities.
The U.S. market is going to continue to be important, but it’s a mistake to overlook opportunities elsewhere around the globe. To me, headlines like this are a primary reason to expand your investment horizons globally.
