Are you looking for a place to put your money to help it grow? If so, you might want to consider investing in some of the best car stocks in the market.
When you’re considering the automotive industry for your investment, you’ve got some questions to answer. Should you invest in classic brands or look at some upstart new names for your money? Are you searching for a stock that should split or will you look for a name that’s investing in future technology? Here are seven companies that could be the right place for you to put your money to see it grow.
Classic Name: Toyota Motor Corp. (TM)
One of the largest automakers in the world is Toyota. Everywhere you look, you’ll find cars, trucks, and SUVs that wear the double oval badge with the ovals shaped like a “T”. The latest new platform used by Toyota is shaving costs and putting more money back into the pockets of investors.
Toyota is committed to the electrification of its lineup. The Lexus brand, which is the luxury arm of Toyota, will offer a complete EV lineup by the end of the decade. The Toyota brand is heavily invested in various activities around the world. If you’re looking for a long-term solution to growing your money through investment, Toyota is a good company to invest in.
Strong Proven Stock: Tesla Inc. (TSLA)
Tesla was invested in electric vehicles before they were cool. In fact, Tesla is one of the reasons that any EVs became cool at all. This company and its leader, Elon Musk, are extremely polarizing, but the popularity gained often translates to incredible stock price growth. If you’re searching for one of the best car stocks to be your investment, Tesla is a great company to choose from.
Currently, Tesla offers four models and a large network of charging centers. This company continues its forward-thinking approach to ensure we can see how and where it will grow and develop over the next several years. The cost of shares of Tesla stock is steep compared to other names, but the growth potential makes this price worth the cost.
Classic Performer: Honda Motor Co. Ltd. (HMC)
Another of the largest names from Japan is Honda. Honda doesn’t just make cars, but this is where we focus our energies. Over the many decades Honda has been traded on the market, the stock has performed well and delivered an impressive return on investment.
Honda is slowly getting into the electric vehicle world with partnerships involving Sony and GM to help them build out the lineup of EVs that will wear the Honda logo in the future. Honda is also working on cutting costs to allow for more profits year over year. If you’re looking for a great company to invest in, Honda could be the company that appeals to you and brings you the return you desire.
One of the Originals: Ford Motor Co. (F)
Ford Motor Company is the second-largest automotive company in the United States. When this brand restructured its operations, it reduced operating costs and increased productivity to save money and increase profits for investors.
Ford is also one of the early adopters of EVs with the relatively new Mustang Mach-E and F-150 Lightning.
When searching for one of the best car stocks to invest in, you’ll be glad to put your money into Ford. Not only is this company a long-time proven performer, but the stock price is also relatively affordable, allowing you to buy more shares for your money. Even if you’ve only got a little money to invest, a few Ford stocks could be an easy buy for you.
Chinese Electric: Nio Inc. (NIO)
Even though we’re telling you that Nio is a good company to invest your money in, it is one of the worst performers on this list. Right now, the stock price is down nearly 37% year to date, which makes it a stock you’ll want to watch before investing. Try to find the place where the stock drop ends and buy low so that you can sell when the price returns to a high point and brings you an impressive level of profits.
Nio is a Chinese manufacturer of electric and smart vehicles. This company is working toward bringing cars to the United States, but currently, the U.S. is cracking down on Chinese products, trying to keep them out of the domestic auto market.
Name Changes Often: Stellantis NV (STLA)
What used to be Chrysler then was FCA is now Stellantis NV. This company has changed names several times, but you’ll recognize the vehicles from this company. If you’re wondering which company owns Chrysler, Dodge, Ram, and Jeep, it’s Stellantis. The change from FCA to Stellantis should be a growth opportunity for investors to offer desirable profits each quarter.
Former FCA faced financial issues for many years, but now this company has a strong position and more financial flexibility than ever before. Stellantis has somehow navigated the semiconductor shortage and is on track to generate impressive revenue growth. Additionally, you’ll find this company to be one of the best car stocks because of the relatively low price per share of Stellantis stock.
Auto Supplier: BorgWarner Inc. (BWA)
Some of the best companies to invest in aren’t automotive brands that you recognize. BorgWarner is one of the top auto suppliers in the world. They also produce components for drivetrain systems. This company recently acquired Delphi, which helps them create a bullish position in the market and become a company that makes sense for your investment.
Many of the vehicles we drive every day have some parts from BorgWarner in them. The fact that this company supplies so many parts means it should be a good company for a long-term investment to help grow your money. The cost per share of BorgWarner stock is not as low as Ford or Stellantis, but it’s still relatively affordable, making this a great investment for you.
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