The auto sector is one of the hottest domains for investors. The sector does get hit by recessions and pandemics. But it quickly recovers and doles out impressive returns to the investors. Currently, it’s seeing a shift from traditional petrol/diesel versions to electric variants. From electric to hybrid concepts, many variations are making their way to the automobile markets. So, automakers are producing more and more EVs.
Needless to mention, it is impacting the markets as well. Thus, market experts are out with their recommendations for investors. Like every year, this one is seeing top gainers and losers.
Every maker is trying to catch up with the trend. They’re trying to produce cars that appeal to the growing populace of environment-concerned customers. At the same time, they’re also trying to keep the prices pocket-friendly.
Car Stocks Likely To Benefit Investors This Year
Bringing trailblazing technology to the fore, these automakers have become precious for market participants.
Tesla (NASDAQ: TSLA)
Tesla is one of the pioneers in modern auto manufacturing. This company has been bringing concept cars for a while now. Its new cyber truck became quite a sensation among vehicle owners. The base model price of $25,000 makes it a choice for laymen as well. It’s one of the precious stocks for auto investors.
Ford (NYSE: F)
Ford is going all-out in its EV manufacturing drive. The company has set a target of 600,000 cars by the year-end. Moreover, it wants to bolster production to 2 Million by 2026. So far, the company has launched a number of cars in this segment. Its popular F-150 Lightnings has received tremendous response in the markets.
General Motors (NYSE: GM)
GM has also buckled up its units for the production of electric vehicles. The CEO Mary Barra announced that the company will only make EVs by 2035. In addition to that, it’s equipping many of its production plants to assemble only electric vehicles. Some EVs that it will launch this year are Chevrolet Equinox, Chevrolet Blazer, Chevrolet Silverado RST, Bold EV, and EUV.
Volvo (NASDAQ: VOLV)
Volvo plans to turn all its existing models into EVs by 2030. Currently, it’s offering just 2 full-electric variants and 2 hybrids. The manufacturer has made it clear that it wants to produce sustainable cars. It utilizes many recyclable materials to make interiors, powertrains, and exteriors. The effort has already garnered a lot of praise for the company.
BMW (ETR: BMW)
BMW is keen to increase sales of its fully-electric vehicles. It has already redesigned the 7 Series and made it available in electric and gas versions. Notably, the company faced some backlash for charging customers for heated seats. Despite that, it’s hopeful to register a spike in sales this year.
Conclusion
With these automobile stocks, investors can ensure plenty of profits. These shares become a source of long-term growth and short-term gains. Moreover, these companies don’t just have operations in the auto sector. They have tapped into other domains that augment their revenue. So, investing in them is surely something investors won’t regret. However, every investor should have due diligence before putting their money on any asssets.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/08/12/top-5-car-stocks-that-investors-should-be-interested-in-2023/