NEW YORK ( TheStreet) -- Monthly auto sales data were released Monday and that got TheStreet's Jim Cramer and Debra Borchardt talking about auto stocks.
Ford, a holding of Cramer's charitable trust Action Alerts Plus, reported stronger sales of its F-Series trucks than in any year since 1976, but investors know not to chase these stocks right now, Cramer said.
"This is one of those anomalies where if they were just American companies Ford would be double," Cramer said. "This is a boom time for American autos." But Ford, like other companies, wanted to "diversify away from America," Cramer noted, "and it's the rest of the globe that's hurting them."Investors can no longer trade off these companies solely on their American sales numbers, Cramer said. "You've got to wait until they report something in Europe." -- Written by Bret Kenwell in Petoskey, Mich. .