Auto-parts suppliers such as Lear ( LEA) and Magna International ( MGA) are 30% to 40% off of their 52-week highs and look awfully tempting trading at seven or eight times projected 2012 profits. Yet two publicly-traded auto stocks may be the biggest bargains of all, trading at even lower multiples. GM ( GM)
represents the biggest value in the group, as its entire operations are assigned zero value after its net cash is excluded from the market capitalization. Ford ( F) represents the better operator of the two. Which one appeals the most depends on your investing preference.