(Oct 30): The best-performing sector in the global stock markets over the last two months has been neither internet technology nor oil. Rather, it is one that had been a laggard for years: automobile manufacturers. As investors chased up shares in fledgling electric carmaker Tesla, giants such as General Motors, Toyota Motor and Ford Motor saw their own fortunes decline.

Since mid-August, however, there has been a sea change in sentiment as investors have circled back to legacy carmakers in the realisation that they could actually take a significant chunk of the electric vehicle (EV) market. Shares in GM, which overtook Tesla as the most valuable car company last month, are up 34% over the past two months.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.


  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply


Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook