NEW YORK ( TheStreet) -- America's love affair with the automobile has become the world's love affair with the automobile, and while there are fewer car companies in the U.S. than before, the industry overseas is growing as cars are becoming more accessible in more countries. As an example, IHS Automotive estimates that India will become the third largest automotive market by 2016, surpassing Japan and Germany.First Trust Global Auto Index Fund (CARZ) is an option for investors who want to capitalize on this trend. The exchange-traded fund started trading a little over two years ago when General Motors (GM) was performing poorly, and so CARZ declined more than 20% in its first three months, lagging the SPDR S&P 500 (SPY) and the Industrial Sector SPDR (XLI).
Investing in Global Demand for Cars
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