If you’re interested in automotive stocks, you’ll want to know which ones make the best investments and which ones to avoid.
The automotive world is changing faster than anyone could ever expect. More EV automakers are entering the mix than ever before. Some names you’ll recognize as top performers, while others are brand new and names you won’t know. Let’s explore some stocks that could pay off well for you if you’re willing to ride with a new company or invest in a classic name.
Proterra Inc. (PTRA)
Not all names traded on the stock exchange are household names that you know well. Proterra Inc. builds commercial vehicles in the United States and sells them in several markets. They also provide battery systems and electrification for commercial vehicles. This company could be the cornerstone of a transition from gas and diesel-powered commercial vehicles to those powered by electricity. This could be one of the best stocks to invest in when you’re looking for a company that has a strong performing market and new elements to its business.
Ford Motor Company (F)
Ford is a household name and continues to be one of the automotive stocks that you should buy and invest in for the long term. Ford has been a strong leader in the global auto market for many years, with operations dating back to the earliest days of the market. The Ford F-Series trucks continue to be the best-selling trucks in the market, putting this brand near the top of the list when you’re looking for the right stocks for your investments.
Tesla Inc. (TSLA)
Typically, the price per share of Tesla stock makes it difficult to buy several shares without a six or seven-figure investment. That said, Tesla has been a strong performer for several years, with impressive levels of growth every time a new Tesla vehicle appears. In 2023, the Tesla Cybertruck is coming and should push the stock price upward. Not only is this EV automaker a good choice as a stock investment, it’s one of the best-growing stocks over the past few years, which means you could hold onto this stock for a long time.
Stellantis (STLA)
Stellantis might be a relatively new name as a company, but several of the automotive brands under its purview are names we’ve known for many years. These brands include Jeep, Ram, Dodge, Opel Vauxhall, Peugeot, Chrysler, Fiat, Alfa Romeo, and Maserati. Stellantis has a strong foundation in Europe and North America, offering several amazing vehicles and a strong stock position for investors. If you’re looking for one of the best automotive stocks to invest in, Stellantis should be somewhere near the top of your list.
Lucid Group, Inc. (LCID)
One of the many up-and-coming electric vehicle names is Lucid. This company has headquarters in California and builds EVs that aren’t sold in the United States but could be in the future. Lucid also makes EV powertrains and battery systems, putting the chips all in for the EV market. Currently, Lucid is in a position to need new capital for the next couple of years, which could be a good time for you to buy this stock and watch your investment grow as this company moves forward with its new expansion.
Toyota Motor Corp. (TM)
Toyota is one of the largest automakers in the world, and it’s certainly a company you can feel secure investing in. Toyota is working toward new EV models while maintaining a strong lineup of gas and hybrid vehicles that sell extremely well. If you’re interested in automotive stocks and want a safe bet, Toyota is a good choice. This company has the right blend of diversity, innovation, and tradition to ensure long and steady growth over time.
Ferrari NV (RACE)
Now might be the best time to buy some stock in Ferrari. Although the company leaders fought to stay out of the SUV market for a long time, the new Ferrari Purosangue is heading to the market and will bring in a brand new revenue stream for this brand. Buying stock now could mean you see an impressive level of growth over the next few years. If you’ve ever wanted to own a piece of one of the hottest car brands in the world, buy a few stocks in Ferrari and watch that price soar.
NIO Inc. (NIO)
NIO is one of many Chinese electric vehicle automakers you’ll find on the stock exchange. They build smart EVs in China and provide home power solutions to offer a couple of different ways to be part of the energy market. NIO has been one of the best stocks in the market for the past couple of years. Eventually, EVs wearing the NIO badge will head to other markets, possibly including the United States. This is a good stock for steady investors willing to watch the stock rise over time.
Honda Motor Co. Ltd. (HMC)
Another longstanding name in the automotive world is Honda. Although Honda has faced troubles getting their EVs off the ground, new partnerships with GM and Sony will help move this area of its business forward. Honda is a name you know for more than the four-wheeled vehicles on the road. This name is on everything with an engine, and it can be the right company for you when you’re looking for one of the best automotive stocks to invest in for 2023.
BorgWarner Inc. (BWA)
Some of the stocks you’ll find in the auto sector are suppliers of components. One of these is BorgWarner. This company provides parts for drivetrain systems, which makes it a great choice when you’re looking for a company with a wider reach than only one brand name. This company is expected to earn impressive returns for investors, offering the profits most investors are looking for. If you’re ready for a long-term automotive partner that isn’t a brand name, put your money in BorgWarner stock.
Will you look to one or more of these ten automotive stocks to be where you invest your money this year? Which stock appears to have the most upside?
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