With new technology and improved vehicular performance, you’ll find hundreds of automotive stocks that can bring you the desired profits.
Let’s look at a few that might serve you well for the rest of 2023. The automotive world has moved toward electric vehicles at a rapid pace. This has brought new companies into the fold. Whether it is an automaker that builds electric vehicles or a supplier of components and items for EV batteries, the auto world offers some exciting opportunities for investment.
Here are seven stocks that could bring strong returns and be the right place to invest money for the remainder of this year.
Tesla continues to be a strong performer
Recent pricing changes moved Tesla from profit rich to a volume-oriented company, but that volume should promise strong growth and continued positive stock performance. The Tesla Cybertruck is finally ready to hit the market, which will be a big boost for this American EV company. Tesla also recently introduced the Tesla Semi, which is already working to bring products to various locations along the west coast. These movements forward suggest Tesla is a good place for a long-term investment, giving you the returns you want along the way.
Ford is making a push toward EVs
Ford is one of the strongest names in the auto industry and offers one of the best long-term investments you can find in the stock market. This automotive stock should continue to grow and bring excellent returns to your portfolio. Ford is currently working to offer an electric version of nearly all of its models, with the F-150 Lightning and Mustang Mach-E leading the way. This company continues to be a giant in the auto industry and should be a great place to park your money.
General Motors is leading the EV charge
GM was first to market with an affordable long-range EV, with the Bolt EV beating the Tesla Model 3 to market by a full year. Since then, GM has created several impressive electric vehicles to go along with its lineup of gas and diesel-powered machines. Several new SUVs will hit the market in 2024, utilizing electricity to power their drivetrains. If you’re looking for a great stock for your investment, GM makes a lot of sense.
Volvo is making big changes for future success
Another fantastic automotive stock that could bring some excellent returns in 2023 is Volvo. This luxury brand also has several EVs on the road and intends to produce sustainable cars using mostly recyclable materials. This could put Volvo at the top of your list because the company offers eco-friendly solutions to some of the most daunting problems facing the auto industry. Will this be the stock you choose to take you to the end of 2023?
BMW took a hit but is bouncing back
The idea of charging customers to subscribe to heated seats or some of the other basic functions of modern cars was met with ridicule and caused BMW to lose some momentum. The company looks to bounce back from this with its new EVs and a variety of gas and electric powertrains coming to the BMW lineup for the future. The new 7 Series is electrified as the i7, making it an impressive flagship model for the driving experience desired. Could this be the right place for your investment? Possibly.
Stellantis brings a plan for the future
They might seem like they are last to the EV party, but Stellantis has paraded out the new Ram 1500 Revolution and also shows us plans for the Dodge Charger and Challenger to go electric in the future. Various SUVs are also receiving the electric treatment, making the future of Stellantis strong and impressive. If you’re looking for an automotive stock that should have a big wave going into 2024, this could be the right company for your investment.
NIO is one of the most consistent Chinese EV companies
For the past few years, NIO has been a strong performer in the electric vehicle market. This company specializes in the design, development, and manufacturing of smart electric vehicles, which include SUVs and sedans. They also offer energy and service packages to customers driving these EVs. The power solutions ensure customers have the full package of services and products to enjoy the best experience with the electric vehicle purchased. If you want to enjoy a new name in the auto industry but ensure it’s a name that should have strong future performance, NIO can be that company for you.
Which of these seven automotive stocks will you invest in for the remainder of 2023?
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