What are you looking for from your stock portfolio? When searching for the right combination of auto stocks, we’ve got a few that could bring desired returns.
Investing in the stock market is an inherently risky venture with ups and downs. Most of us are at least mildly familiar with times in history when the stock market crashed, and most investors lost money. Still, investing in stocks is known to be a great way to grow money, and some stocks offer impressive returns with regular quarterly dividends that allow investors to enjoy the fruits of their investment or reinvest for greater future returns.
With this in mind, here are seven auto stocks that could be right for you during the third quarter of 2023.
Tesla (TSLA)
Tesla continues to be one of the top-performing companies in the stock market. The returns investors received from Tesla over the past year was 21.2% which is 18 percentage points higher than most other stocks in this industry. Tesla continues to grow and develop new products that boost consumer confidence in the company. With the growth of electric vehicles, a company like Tesla has been building nothing but EVs for several years, could easily be a top performer for a long time.
Stellantis (STLA)
Stellantis is the parent company of Dodge, Jeep, Chrysler, and Ram in North America while also overseeing several other auto brands in foreign markets. If you’re looking for auto stocks that perform well and offer some of the highest dividends, Stellantis should be near the top of the list. Over the past year, Stellantis has offered returns of 49.87% and has an average dividend yield of 8,47% which is four percentage points higher than the average in the automotive industry.
Ford Motor Co (F)
Another high-yield company trading on the stock market is Ford Motor Co. As one of the longest-lasting legacy automakers, Ford has been through it all. Over the past year, Ford has had a dividend return of 8.14%, which is four percentage points higher than the industry average. In addition to offering excellent recent returns, Ford has shown consistent growth over the past decade. If you’re looking for sustainable growth, you’ll want to put your money into some Ford stock.
Ferrari (RACE)
Although small, Ferrari is an impressive company, and the addition of a new SUV to the lineup can help solidify this brand name for the future. Ferrari is well-known for its expensive sports cars and racing success. If you’re looking for auto stocks that you can get excited about owning, Ferrari is certainly one of them. The long wait list and strong brand recognition continue to allow Ferrari to be one of the top-performing brands in the stock market.
Volkswagen (VWAGY)
The Volkswagen brand has had its ups and downs over the past decade, but it seems to be on the right track. In addition to investing in the Volkswagen brand, putting your investment into the VWAGY stock means you’ve got a piece of several automotive brands, including Audi, Lamborghini, Porsche, and Bentley. VW is leading the charge into the EV transition with some impressive and interesting models that could be enjoyable for the next several years. Will you invest your money in Volkswagen? This investment could mean strong returns for several years.
General Motors (GM)
Most recently, General Motors offered investors very little return on their money, but that number should be on the rise. GM is one of the longest-running auto stocks in the market, and this company is on the brink of adding several new electric vehicles to its lineup. Now is a great time to get in on the GM stock before the 2024 model year EVs hit the streets. This legacy stock has the potential to offer sharp upward movement and strong returns from now through the end of the year.
Rivian (RIVN)
Rivian might be the riskiest of the group. Depending on which reports you trust, this company is either in serious financial trouble or on the brink of something amazing. If you’ve got some money to invest that you’re willing to take a big risk with, Rivian could be a company that brings amazing returns over the next several months. Of course, things could go completely in the opposite direction for this startup electric vehicle automaker. Which way will you go with Rivian?
These seven auto stocks offer various ways to see how your money can work for you and give you desired returns that could lead to a strong stock portfolio. Which stocks will you invest in?
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