Time to go long on auto stocks:
Automotive industry expert Paul Ingrassia told CNBC Thursday, one day after the successful GM IPO, that it's time to ``go long'' on auto stocks and invest in the industry.
``We believe that the strong show by the automakers is likely to continue in the near future. However, the factors that may affect the strong sales momentum are the likely roll-back of the excise duty cut and the hardening of interest rates on account of inflationary pressures,`` it adds.