The Influence of Oil Prices on Automotive Industry

Student: Arseev Vladislav

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2019

There is no doubt that oil and gas remain the key world resources. They influence the global economy as well as the majority of economic sectors, including the automobile industry. The aim of the analysis is to determine if the additional variables, which are oil-future returns and conditional volatility of oil futures, afford significant information to the company’s stock returns. The study has examined that, while analyzing companies separately, there is no significant benefit from an increase in oil price for stock returns of different automobile companies, and, that the effect of conditional volatility of oil-future returns on automobile companies’ returns is also insignificant. But after pooling automobile manufacturers by groups, we observe a strong significant effect on both questions.

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