4 auto trades on strong sales, cheap oil

Ford (F) looks primed to rally after a strong July sales showing, some CNBC "Fast Money" traders said Monday.

The automaker's stock rose 0.7 percent on the day as it beat U.S. sales expectations with a 5 percent increase from the year earlier. Ford truck sales—which climbed 5.7 percent—could drive growth if oil prices continue to fall, said trader Tim Seymour.

He contended that, at around $15 per share, it has the best risk-reward of automotive stocks. Trader Guy Adami added that he would rather buy Ford shares than those of General Motors (GM).

Read More US July auto sales top expectations, boosted by SUVs, trucks

GM sales rose more than 6 percent, but Adami called the stock "dead money" as it has fallen more than 9 percent this year. Trader Dan Nathan added that it looks like a possible short trade.

Adami noted that he likes shares of auto retailer AutoNation (AN), which have climbed slightly this year, going more than 1 percent higher.

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