China has positioned itself as the world’s largest auto market, surpassing the U.S. with sales surging 36.5% year-over-year to 1.14 million units in June 2009. According to the China Association of Automobile Manufacturers, passenger car sales in China were 872,900 vehicles in June, 2009 whereas passenger car sales in the US for the same period were 859,847 units.

According to the Associated Press (AP), China’s total vehicle sales were up 17.7% to 6.1 million vehicles during the first half of 2009. China has overtaken US auto sales for five of the past six months. The U.S. market temporarily took the lead in May 2009 only to drop again the following month.

Stimulus package including lower sales tax, subsidies to trade in older cars and other incentives provided by the government has helped sales in China. According to the AP, the government of China has reduced retail sales tax on small cars by

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US stocks are way up today.

MarketWatch reports that the Dow had its "greatest intraday point gain on record after a frantic weekend of international government actions bolstered confidence in the banking sector and credit markets."

The US benchmark is now well on track to record its biggest ever gain in terms of percentage points.

The Dow was recently ahead 587.17 points, or 6.9%, to 9,038.36.

Superior Industries International, Inc. (SUP) supplies 35% of the aluminum wheels used on passenger cars and light trucks in North America and is the lowest-cost wheel producer in the U.S.

However, pricing pressures from original equipment manufacturers (OEM) and excess capacity have negatively affected the company. Although, this has been partly offset by the company’s focus on manufacturing efficiency and cost control. Thus, we rate the stock a Hold, with a six-month target price of $20.

The management is committed to continuing the diversification of its OEM customer base, improving operational efficiency, cutting costs by automating certain production lines and seeking lower-cost facilities abroad. International sales are likely to grow from 12% of sales to 15% of sales in a few years.

Aluminum wheels have outpaced steel wheels by being lighter, so 65% of all vehicles now have aluminum wheels, a ratio that has been increasing by 1% per year. For trucks,

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Auto and Truck sales will be reported tomorrow at noon, I know what stocks I don't want to own: Ford (NYSE:F) and General Motors (NYSE:GM). Really, what's the point in owning these stocks? Okay, maybe holding out hope that Former Boeing executive Alan Mulally now CEO of Ford Motor Co. can turn things aroung, but how long will that take? Believe it or not GM still has an average target price of $20.45 and Fords comes in at $5.83. Analysts are looking for double-digit percentage declines from both manufacturers tomorrow with gas prices slamming sales of the big trucks and SUVs and lack of inventory keeping smaller car sales in ...