The automobile industry definitely ranks high when it comes to smart and profitable investing, but the declining numbers, first for Ford (NYSE: F) and now for French manufacturer Renault (RNO: EN Paris), are resulting in raised eyebrows for analysts and investors. Even Renault's sale of its shares of Swedish truck-maker Volvo (VOLVB: SS) failed to create an impact in the market, with a shocking 15 percent decline in its profits at the end of 2012.
With the global automobile market getting tighter and tighter when it comes to profits, investors are wary of trying their luck in the transportation sector in the US market as well. Analysts worldwide are looking with skepticism on the future of automobile shares, and speculations are on the rise when it comes to a secure and long-term investment in the previously bankable heavy equipment and truck parts industry.
The companies really thriving in the automobile sector are those that are associated with the manufacturing and supply of after-sales automobile equipment and replacement parts, and there are quite a few emerging growth companies whose future prospects are looking bright in this area. One of them is Dorman Products Inc. (NASDAQ: DORM), which is a recognizable name in the after-sale market of automobiles and is considered to be one of the leading suppliers of brake parts, fasteners and service line equipment.
Rated among the top 35 in the best emerging companies in America by Forbes for 2012, Dorman Products is touted to be one of the best buys in 2013 because of its accelerated profits and strong momentum. The reported current income of Dorman is approximately $139 million, and it is one of the best picks on most analysts' lists for the upcoming quarterly investment. Hailing from Pennsylvania, Dorman Products is definitely one stock that you should move place on your list as it shows no signs of slowing down in the coming few months.
Industrial sales of trucks and cranes are also on the rise in 2013, making way for companies like Manitex International, Inc. (NASDAQ: MNTX) to take hold of the market. Manitex is a growing name in the field of engineering solutions and has become a sought after brand in the manufacturing and design of lifting equipment, infrastructure development and commercial construction. With a market cap of $142.91 million and a growth of 40 percent in its revenue and profits last year, the company is definitely going places and is being projected as one of the top stock picks for investing in 2013.
Compared to leading transportation stocks like Caterpillar (NYSE: CAT), emerging stock picks like Manitex and Dorman are safe and profitable choices for those who are looking for a decent growth in the coming months. The transportation industry for now is slowly gaining momentum and in the coming months, valuation and profits will make companies like Manitex and Dorman rise to new heights.