The second quarter of 2021 has begun and we select the auto companies we will review each week during our installments of the Rearview Mirror.
After following seven companies that gave us a variety of results in the first quarter, it’s time to find the companies that we will review every week, let’s see which ones those will be.
How Will We Choose Our Stocks?
We could simply look at specific categories of auto stocks and stick to those or we could take a handful from a few different areas of the market. For the second quarter of 2021, we’re going to follow stocks that fall into three categories. These will be the stocks that have brought the best value, those that offer excellent growth, and stocks that have the greatest momentum going into the quarter. Some of the stocks make it into more than one category. The selection of stocks from each of these categories is ready and they will be:
Auto Companies with the Best Stock Value
If we’re looking for value in the stock market, there are three companies that have given excellent and relatively predictable returns for many years. These three are Toyota, Honda, and General Motors. While we followed Toyota and GM last quarter, we will add Honda to the mix and review the performance of these three for the next several weeks. All three are massive companies that we trust to continue to be around for several years and generations to come.
Looking for Growth, these are the Stocks for You?
Honda is on the list of fastest-growing auto stocks in the market, which makes it a company that reaches into a couple of our categories for auto companies to follow. Two others that are on the list of fastest-growing stocks are Workhorse Group and BYD. Workhorse designs and builds electric delivery trucks and aircraft along with cloud-based telematics. BYD is based in China and builds commercial vehicles, passenger cars, and many other vehicles.
Momentum from the Auto Companies We Will Follow
The third group of companies we’re going to review each week are those with the most momentum in the stock market. Right now the companies that find their way on this list are GreenPower Motor Company, Nio Inc, Workhorse Group, and First Trust Nasdaq Global Auto ETF. You may notice Nio is a company we reviewed last quarter and Workhorse is another company that found its way into two categories on this list.
Looking for a Review
To review, the auto companies were going to follow during the second quarter are:
Toyota (TM)
Honda (HMC)
General Motors (GM)
Workhorse Group (WKHS)
BYD Co. Ltd. (BYDDF)
GreenPower Motor Co. (GP)
Nio Inc. (NIO)
First Trust NASDAQ Global Auto Index Fund (CARZ)
These eight stock tickers will be our guide to the Rearview Mirror over the next quarter, giving you a look at how each one performs on a weekly basis.
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