The auto stocks (not just Canadian ones) were and still are super cheap, P/E under 10X, as investors were fretting a rollover of the sector (ironically investors in CAT don't care that its sector has not only rolled over but imploded and it sports a high P/E).  They're ripe for the picking but they're not all equal, MG and LNR are posting impressive revenue and earnings growth while MRE, the cheapest of the bunch, has stable revenue but improving its profitability.