You want the consumer who frequently buys expensive stuff they really do not need from Lululemon ( LULU) and shops for groceries multiple times a week at Whole Foods Market ( WFM).

For better or worse, these people are not, by and large, buying cars that Ford and GM produce.

When I look at a stock, with few exceptions (the big media space being one), I do not create an industry profile. Rather, I consider whom the company targets and the business model it uses to go after the market that provides it with revenue. That's what matters.

I really do not need to know much about the auto industry to know that both Ford and GM face uphill climbs as they target the mass market.

Certainly, both stocks have gotten "cheaper" over the last year, but, after you consider the outlook for the Ford and GM's target customers, you should realize the reasons why. True value plays exist, but without a feasible narrative that describes a realistic way forward, you're better off speculating elsewhere, buying into the broader market if you're generally bullish or going with blue-chip stocks that present fewer question marks.

At the time of publication, the author held no positions in any of the stocks mentioned in this article.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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