In this article, we discuss the 10 fastest growing auto stocks in the world. If you want to read about more car promotions, go straight to 5 fastest growing car stocks in the world.
The automotive industry consists of companies that manufacture and distribute vehicles and their parts. Public car companies are now on the rise, as many electric vehicle (EV) companies and suppliers have gone public through special purpose acquisition companies (SPACs) over the past few years. The electrification of the automotive industry is nothing short of a revolution, and some of these new companies are likely to become major players in the future. Auto stocks can be important components of an investment portfolio because they rise and fall with consumer confidence and can be useful indicators of economic problems or recovery.
Despite the car market suffering from the pandemic crisis, during 2020 At the end of the year, car sales in the US fell by 38%, and now the market has recovered well and continues to grow. Demand for electric cars has surged as travel around the world resumes and virus restrictions become a thing of the past. This increase has led to a severe shortage of chips now needed in vehicle production, reducing production but increasing overall prices, and the auto industry’s performance around the world has been mixed.
Some of the best stocks in the auto sector include General Motors Company (NYSE:GM), Tesla, Inc. (NASDAQ:TSLA) and Ford Motor Company (NYSE:F), among others, discussed in detail below. In addition to manufacturers in the United States, automakers from Europe, Japan, and China are also major players in the industry. The first of 2022 In the first half, high-margin SUVs, trucks and luxury cars took market share ahead of other cars. Sales of electric cars in the second quarter of the year a rose USA – 66 percent.
During the macro downturn, when inflation and rising rates hit the economy, the auto sector was able to weather the pressure and turn a modest profit. Until 2023 the auto industry will remain vulnerable to global headwinds from the energy crisis, slower global demand and persistent supply chain issues. EIU report on the outlook for the automotive industry in 2023 shows that the world sales of new vehicles in 2023 will remain unchanged, with new car sales up 0.9% and new commercial vehicle sales down 1.3% due to the expected decline.
However, electric car sales are expected to be a bright spot, growing by 25% over the period. Analysts also forecast new car sales in Western Europe to fall by around 3% and in North America by 2.4%. In emerging economies such as Brazil, India and Indonesia, sales of EVs remain disappointing, accounting for less than 1% of the total market share and expected to reach 10% in 2022. will not increase significantly. That may change as more car brands, especially in Japan, switch to all-electric means of transportation.
Another important trend that investors should keep in mind is that the introduction of new electric car models and the extension of government subsidies to the sector will likely contribute to the electric car boom worldwide in the coming years. Electric car sales are growing rapidly in the US and Europe. Electric cars now account for nearly 5% of the US auto market share. Norway and Germany remain the strongest electric car markets in Europe.
It is also worth noting that the conversation about the automotive sector in the media focuses on the electric revolution in the industry and the inclination of the big car manufacturers towards new energy vehicles. However, the used car market receives almost no attention. This is surprising, as used car sales in the US have outpaced new vehicle sales over the past decade. This is another trend to consider when investing in the automotive space.
Our methodology
Companies operating in the automotive sector with future growth catalysts were selected for the list. Approximately 900 Elite Hedge Funds Tracked by Insider Monkey in 2022 in the third quarter, the data was used to determine the number of hedge funds holding shares in each company.
Photo by Carlos Aranda on Unsplash
The fastest growing car stocks in the world
10. Tata Motors Limited (NYSE:TTM)
Number of owners of risk insurance funds: 11
Tata Motors Limited (NYSE: TTM ) designs, develops, manufactures and sells a variety of automotive vehicles. December 1 Tata Motors has reported a 55% year-on-year growth in its passenger car sales through 2022. sold 46,425 units in November compared to 29,947 units in the same period last year. in 2022 in November exported 388 units, which is 130% more than last year compared to 169 units during the same period last year.
in 2022 at the end of the third quarter, 11 hedge funds had 63.9 million shares in Insider Monkey’s database.
Among the hedge funds tracked by Insider Monkey, the San Francisco-based firm Think about investments is the major shareholder of Tata Motors Limited (NYSE: TTM ) with 802,493 shares valued at over $19.5 million.
Like General Motors Company (NYSE: GM ), Tesla, Inc. (NASDAQ: TSLA ) and Ford Motor Company (NYSE: F ), Tata Motors Limited (NYSE: TTM ) is one of the fastest growing automotive companies in the world. .
9. Toyota Motor Corporation (NYSE:TM)
Number of owners of risk insurance funds: 12
Toyota Motor Corporation (NYSE:TM) designs, manufactures, assembles and sells passenger vehicles, minivans and commercial vehicles and related parts and accessories. The company recently reported sales of 111,713 electric vehicles in the third quarter, representing 21.2 percent of full-year sales.
in 2022 At the end of the third quarter, 12 hedge funds had 741.8 million shares in the Insider Monkey database.
Among the hedge funds tracked by Insider Monkey is a Washington, D.C.-based firm Fisher Asset Management is the leading shareholder of Toyota Motor Corporation (NYSE:TM) with $5.4 million. shares with a value exceeding 710.6 million USD.
In his 2022 In its first-quarter investor note, Baron Funds, an asset management firm, highlighted several stocks, and Toyota Motor Corporation (NYSE:TM) was one of them. Here Here’s what the foundation said:
Toyota’s (NYSE:TM) kaizen manufacturing philosophy is based on improving production using just-in-time processes to eliminate waste and reduce inventory carrying costs. The company does not plan disruptive changes that will significantly reduce costs and improve quality.
8. Lucid Group, Inc. (NASDAQ:LCID)
Number of owners of risk insurance funds: 15
Lucid Group, Inc. (NASDAQ: LCID ) is a technology and automotive company that develops electric vehicle (EV) technology. The company recently announced that it produced 2,282 vehicles at its Arizona plant in the third quarter. During the same period, it delivered 1,398 vehicles to customers.
November 10 RF Lafferty analyst Jaime Perez maintained a buy rating on shares of Lucid Group, Inc. (NASDAQ: LCID ) and cut his price target to $17 from $19, noting that the company’s two financing arrangements and its $1 asset-backed loan. billion should provide enough financial flexibility to start development.
in 2022 at the end of the third quarter, 15 hedge funds had 99.5 million shares in Insider Monkey’s database.
7. Li Auto Inc. (NASDAQ:LI)
Number of owners of risk insurance funds: 20
Li Auto Inc. (NASDAQ:LI) designs, develops, manufactures and markets new energy vehicles in the People’s Republic of China. December 1 Li Auto revealed that in 2022 delivered 15,034 vehicles in November, a record high for the month and up 11.5% year-over-year.
December 15 CLSA analyst Aaron Li maintained Li Auto Inc. (NASDAQ:LI) stock to a buy rating and cut its price target to $31 from $49, noting that the market is more focused on profitability after the Fed’s rate hike, but strong momentum for the company.
in 2022 At the end of the third quarter, 20 hedge funds had $1.1 billion in Insider Monkey’s database. USD shares of Lucid Group, Inc. (NASDAQ: LCID ), up from 28 last quarter worth $1.4 billion.
Among the hedge funds tracked by New York-based investment firm Insider Monkey. Tiger Global Management LLC. is the leading Li Auto Inc. (NASDAQ:LI) shareholder with 17.2 million. shares with a value exceeding 396 mln. USD.
6. Stelantis NV (NYSE:STLA)
Number of owners of risk insurance funds: 25
Stellantis NV (NYSE: STLA) is engaged in the design, engineering, production, distribution and sale of automobiles and their parts. November 3 Stellantis NV reported that worldwide sales of Stellantis battery electric vehicles (BEVs) increased by 41% year-on-year to 68 thousand. units, while sales of low-emission vehicles increased by 21,000 units to 112,000 vehicles. In the third quarter of 2022.
October 14 Berenberg analyst Adrian Yanoshik maintained his buy rating on Stellantis NV (NYSE:STLA) and cut his price target to €19 from €21.
in 2022 At the end of the third quarter, the 25 hedge funds in Insider Monkey’s database had $905.5 million.
Among hedge funds tracked by Boston firm Insider Monkey. Capital of Arrowstreet is the leading shareholder of Stellantis NV (NYSE: STLA ) with 29 million shares valued at more than $349.4 million.
In addition to General Motors Company (NYSE: GM ), Tesla, Inc. (NASDAQ: TSLA ) and Ford Motor Company (NYSE: F ), Stellantis NV (NYSE: STLA ) is one of the fastest growing automotive companies in the world. .
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Disclosure. None. 10 fastest growing car stocks in the world was originally published on Insider Monkey.
