NEW YORK (The Street) -- April's weak retail sales data that suggests consumers didn't spend as much money on goods as the market hoped didn't extend to U.S. car lots and automobile showrooms. General Motors (GM) forecast the seasonally adjusted annualized rate (SAAR) of U.S. auto sales reached 17.6 million vehicles in May -- the strongest sales pace in nine years.
And with the auto industry still poised to grow in 2015 at its fastest pace since 2005, this should fuel interest in car-related stocks like satellite radio provider Sirius XM Holdings (SIRI) and car-buying specialist TrueCar (TRUE) -- two stocks that have taken different turns. Take a look at the chart, starting with the merits of SIRI.
SIRI data by YCharts
Sirius XM, the only satellite radio provider in the U.S., has shown lasting power, withstanding threats from several streaming radio alternatives. After its shares traded flat in 2014, Sirius stock is off to a good start in 2015, gaining more than 11%, compared with 2% gains for the S&P 500 (SPX).
Headquartered in New York, Sirius needs auto sales to keep climbing, since it relies on car sales to grow its subscriber numbers.
In the first quarter, Sirius added 431,000 net new subscribers, up 61% from the prior year when it added 267,000. Self-pay subscribers, or those that are not on promotional trials, increased to 394,000, up from prior year's total of 173,000.