Do car stocks make good investments? Some experts don’t think so, but if you’re looking for long-term growth, some of the best car stocks could be excellent.
Recently, the auto industry has been on an up-and-down rollercoaster run. Much like Bitcoin and other cryptocurrency, a high was recently hit, but now the stock prices are beginning to level off. The cause of this recent high in the auto industry was the instant growth of electric vehicles. Some automakers are stepping back from their EV offerings, slowing production, and taking a second look at this market. Still, some of the best car stocks can help boost your stock portfolio and give you the desired returns.
Mobileye Global Inc. (MBLY)
Eventually, autonomous driving will be a huge part of the automotive industry, and chips made for advanced features will be required. This is where Mobileye Global Inc. comes in. This company builds chips for some of the most advanced safety and driving features of our vehicles. These chips help run the adaptive cruise control, parking assist systems, and pedestrian detection. Mobileye chips are part of nearly 42% of all vehicles sold in 2022, making this company a major player in the industry.
Tesla Inc. (TSLA)
When it comes to the electric vehicle market, Tesla is the name you think of first. One of the best car stocks to invest in could be Tesla. This company continues to grow and expand its lineup of electric vehicles while garnering a rabid following from many investors. Currently, Tesla is valued at nearly $860 billion, which might be the top of its growth. Still, if the Cybertruck is a success, it will be interesting to see how far this company will go. Now might be the best time to invest in Tesla because the stock might split soon, which doubles your positions.
Ferrari NV (RACE)
Ferrari supercars are symbols of wealth, adventure, and success. This company is admired for its luxury lifestyle qualities, making it one of the most amazing and impressive companies in the world. Ferrari supercars are recognized throughout the world, but there’s a new angle that could make this company a great choice for investors. The new Ferrari Purosangue SUV might become as successful as SUVs from Porsche, Bentley, and Lamborghini. If this SUV takes off, so will Ferrari’s stock price, which means this could be a good company for your investment.
Rivian Automotive Inc. (RIVN)
One of the newest electric vehicle companies is Rivian. If you’re looking for a great way to get in on the early days of an automotive company, this could be one of the best car stocks for your investment. Rivian already has a commercial partnership with Amazon for 100,000 electric delivery vans. This is also the company bringing off-road electric excellence to the market with the R1T pickup truck and R1S SUV. Although Rivian has had trouble scaling up, the company has focused on providing quality vehicles, making it easy to feel confident in current and future Rivian EVs.
Ford Motor Co. (F)
Recent labor negotiations caused a hit to the Ford’s stock price, but that should mean it’s time to invest in one of the longest-running and most successful automotive companies in the world. Ford has been around for more than a century and continues to be a leader in the automotive industry. The low price-per-share of Ford stock makes it a good choice for investors, especially those looking for a good stock where they can buy more shares for their money. Ford’s proven track record of excellence means this could be a good company to invest in for the long term.
General Motors (GM)
Another affordable stock with long-term investment possibilities is GM. General Motors is one of the largest and longest-running automakers in the world. Like Ford, General Motors has been part of the industry for more than a century, offering investors the longevity required to make it one of the best car stocks for investors. GM is also facing a drop in stock prices due to the recent UAW strike and labor negotiations, but that price should rebound and give investors the returns desired for long-term growth in the market.
These are six of the best car stocks to invest in. Each offers different benefits and possibilities to provide investors with excellent choices. Adding a few car stocks to your investment portfolio could provide long-term returns and help boost your retirement fund. Will you choose any of these car stocks for your investment this quarter?
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