Global X Funds has launched the Global X Auto ETX (ticker: VROM), which will invest 76% of its portfolio in auto manufacturers and 26% in auto parts and equipment.

Global X said that vehicle sales continue to rebound from the downturn and that sales are projected to reach record highs this year, fueled by increasing purchasing power in emerging markets.

“VROM provides a relatively efficient way for investors to gain diversified exposure to the global auto and auto part manufacturers industry,” said Bruno del Ama, chief executive officer of Global X Funds.

The fund track the S-Network Global Automotive Index.

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