Is the time ripe for bargain-basement European auto stocks?

European car sales were up 18% in the first half of the year, but most automotive majors are trading at less than half of analysts' fair value estimates, says Morningstar. Contrary to the latest sales stats however, new orders for cars are pointing to a decline. Consumers are hesitant because of high inflation and the real risk of an economic recession in the second half of 2023.