Skip to content

Europe’s Carmakers Hit Record High With Value Stocks Back in Vogue

  • Stoxx 600 Automobiles & Parts Index has gained 7.7% this week
  • Porsche, Daimler have soared more than 9% with value hot again
A worker inspects newly manufactured automobiles on rail wagons at Barcelona commercial port in Barcelona, Spain.

A worker inspects newly manufactured automobiles on rail wagons at Barcelona commercial port in Barcelona, Spain.

Photographer: Angel Garcia/Bloomberg

Europe’s auto stocks have started 2022 with a bang, hitting a record high as investors pile into cheaper sectors.

The Stoxx 600 Automobiles & Parts Index is the top-performing sector in Europe during the first three sessions of the year, up about 7.7% compared to a 1.4% advance for the benchmark gauge. Led by gains for Porsche SE and Daimler AG, the group has recouped all the losses spurred by worries about the omicron variant since the end of November, and analysts see more upside in the year ahead.