Automotive stocks have had their ups and downs over the years. It wasn’t that long ago where we saw the U.S. government bail out the top automakers in the U.S. Despite the shortcomings, new entrants to the market like Tesla and others have helped to mold a new age of automotive stocks to watch.
However, the auto industry has slowed down in recent years. That’s in light of a seemingly strong economy. However, many analysts still carry conservative estimates on the industry as a whole. Top automotive stocks are no longer the carmakers themselves. We now have retailers selling cars online like Carvana and Autotrader. There are also investors looking to take advantage of automotive rental companies.
Why Automotive Stocks?
Billionaires like Carl Icahn have notably shown interest in automotive stocks like Hertz. Furthermore, this may signal a renewed interest in the sector. While estimates were initially conservative, the value may have become a bigger focus from larger investors right now as noted by Icahn’s moves.
However, with shifting market demand to electric vehicles, new trends are bound to emerge within the industry. High flying EV stocks like Tesla and others could become a greater focus as the trend continues to emerge.
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Check out these trending EV companies making moves in the stock market today.