Sales fell by 71 percent in China, 41 percent in the United States, and 80 percent in Europe. However, according to Moody’s, the car industry’s sales would climb by 11.5 percent in 2021. According to a McKinsey survey, consumer propensity to buy cars is near to pre-Covid-19 levels. This effort is aided by Europe’s $1.74 billion European Green Vehicles Initiative. Electric car sales are expected to increase by 43% in 2020, propelling the industry toward cleaner, electric vehicles. General Motors Company, Tesla, Ford Motor Company, and NIO Inc. are among the top automotive stocks.
Insider Monkey analyzes the list of the 11 best auto stocks to invest in. Honda Motor Co. Ltd. is ranked ninth among the top auto stocks to buy. At the end of the second quarter of 2021, ten hedge funds owned Honda Motor Co., Ltd. for a total of $374.9 million. Toyota Motor Corporation is a major automobile manufacturer around the globe. Regular vehicles, hybrid cars, and, more recently, electric cars are also produced by the company. Toyota Motor Corporation is ranked tenth on the list of the top auto stocks to buy in, with a market cap of $290.52 billion. Xping Inc. is a Chinese automobile company. On the selection of the 11 greatest tech stocks to buy in, the electric vehicle company is ranked ninth. XPeng Inc. was owned by 19 hedge funds at the end of the second quarter of 2021, with a total value of $784.6 million. Li Auto Inc. is a Beijing-based Chinese electric car manufacturer. Li Auto Inc, with a market value of $27.96 billion, is ranked ninth on the list of the 11 best auto companies to invest in. The Li ONE, a large premium six-seat electric SUV, is the company’s most well-known model. On the list of the 10 best auto stocks to invest in, Ferrari N.V. is ranked seventh. The corporation reported $1.32 in profits per share for the second quarter of 2021 in its quarterly earnings release. NIO Inc. is placed sixth among the top ten technology stocks to buy. The company specializes in electric car development. At the end of the second quarter of 2021, 34 hedge funds had interests in NIO valued more than $2.06 billion. For more details, click 11 Best Auto Stocks To Invest In.
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