{"id":3784,"date":"2024-05-23T09:00:38","date_gmt":"2024-05-23T09:00:38","guid":{"rendered":"https:\/\/automarketwatch.com\/?p=3784"},"modified":"2024-05-28T22:20:37","modified_gmt":"2024-05-28T22:20:37","slug":"invest-in-these-automotive-stocks-for-2024-gains","status":"publish","type":"post","link":"https:\/\/automarketwatch.com\/index.php\/2024\/05\/23\/invest-in-these-automotive-stocks-for-2024-gains\/","title":{"rendered":"Invest in These Automotive Stocks for 2024 Gains"},"content":{"rendered":"

How can you play the potential upside of the automotive market in 2024? One way is to invest in automotive stocks. Here are some to consider.<\/strong><\/em><\/p>\n

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Last year, new vehicle sales increased nearly 12%, which made it one of the best years in the industry. Although things seem to have cooled off a little, the market is still expanding and strong. New electric vehicle companies might be good short-term investments, and you might find that you want to move your money from one company to another.<\/p>\n

Here are seven automotive stocks to consider right now, giving you a great opportunity to expand your portfolio.<\/p>\n

Carvana Inc. (CVNA)<\/h2>\n

Carvana has had some serious troubles over the past few years, but things are finally straightening out. This online used car sales platform makes it easier for Americans to buy and sell cars, with an unconventional sales and purchase process. Recently, Carvana restructured its debt and cut costs, which improved its stock price, giving the company a stronger financial position. Currently, this stock is still operating in the red, which means you will want to watch this company\u2019s stock performance closely.<\/p>\n

Ford Motor Co. (F)<\/h2>\n

Ford is one of the most prominent automotive stocks available to you. The share price dipped below $5 briefly during the pandemic, but the price is back up above $20 per share. Ford is one of the longest-running companies in the automotive industry, giving you a good opportunity for long-term growth and a solid investment. This brand continually reaches consumers as one of the top brands in America. When you want a stock that doesn\u2019t cost a lot to buy but can be an investment that you won\u2019t need to watch closely; Ford could be the right choice.<\/p>\n

General Motors Co. (GM)<\/h2>\n

General Motors has similar long-term benefits as Ford, offering slow and steady growth that can be perfect for investors. The stock price has bounced back after a bit of a drop thanks to structural improvements in operations that gave the company an excellent first-quarter result. GM posted great numbers on both the top and bottom lines, which means GM is in a strong financial position to ensure investors have the growth desired.<\/a><\/strong><\/p>\n

Genuine Parts Co. (GPC)<\/h2>\n

Automotive stocks don\u2019t always have to do with automakers, but sometimes with support companies. GPC doesn\u2019t make cars but provides replacement parts through NAPA stores around the country. This area of the automotive market is ripe for growth and makes for an excellent investment for your future. Genuine Parts has paid a cash dividend to shareholders every year since 1948, making it one of the few companies with such an incredible track record. When you want a low-risk way to invest your money, GPC could be the right choice for you.<\/p>\n

Stellantis NV (STLA)<\/h2>\n

Stellantis was formed in 2021 as a replacement for FCA and PSA, providing the world with one of the largest automotive groups in the market. Many of the Stellantis companies are more popular and successful in Europe than in the United States. When this company was only FCA, it operated mostly in the red, but now it\u2019s on track to post impressive profits. This can be good news for investors, who should still be a little cautious when investing their money with Stellantis.<\/p>\n

Toyota Motor Corp. (TM)<\/h2>\n

If you want to put your money into one of the top companies in the automotive sector, Toyota is the right company for you. This is the top automaker in the world by volume and that makes it one of the best automotive stocks for you to invest your money. Toyota typically has the right approach to new technology<\/a><\/strong>, vehicle improvements, and reliability. Toyota posted annual revenue of nearly $270 billion, which puts this company in a strong position to continue with incredible success.<\/p>\n

Tesla Inc. (TSLA)<\/h2>\n

Tesla put up some impressive numbers in 2023, but it\u2019s fallen off quite a bit in 2024. Still, the impressive sales and profit figures make Tesla a strong contender for any investor. This electric vehicle company is the most successful in the world to date, which might change as more Chinese EV companies enter the global market. Tesla stock might be down over the past few months; it\u2019s still more than ten times higher than it was five years ago. Unfortunately, Tesla suffers from serious volatility from the top, which could be problematic.<\/p>\n

These are seven automotive stocks that could be ideal for your short or long-term investments. Where will you park your money to watch it grow?<\/p>\n

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