The automobile business is undoubtedly one of the most dynamic and competitive industries in world economic history.
The sector is expected to develop and innovate significantly in the next few years, making substantial contributions to sustainable energy and electric cars.
If you want to get a piece of this market, here are our picks for the finest auto stocks predicted to soar in 2023.
Also, don’t forget that you can get discounted new car pricing with a free quote through qualified local dealer partners.
Tesla Inc. creates, develops, and markets electric automobiles, energy production, and storage solutions both domestically and abroad.
The company is divided into two divisions namely; The automotive sector and the energy solar generation and storage sector.
The automobile sector’s main focus is on the development of electric vehicles while also offering retail goods, vehicle insurance services, after-sales vehicles off warranty, and also used cars.
While on the other hand, the solar and energy sector primarily focuses on the manufacturing, installation, and sale of any energy and solar-related technology.
The Cybertruck is expected to solidify Tesla’s position at the top of the field as it debuts at the end of the year.
You can easily trade this stock with SoFi active investing, and capitalize on the $516.57B market cap.
As an automobile company should, Ford Motor Co. deals with the manufacturing, distribution, and sale of automobiles.
Founded by Henry Ford on June 16, 1903, the automobile company has subsidiaries like Ford Blue, Ford Model E, Ford Pro, Ford Next, and Ford Credit.
It sells Ford and Lincoln vehicles, spare parts, and accessories through different means. In 2023, Ford plans to build 600,000 EVs before the end of the year with hopes of reaching a high of 2 million EVs in 2026.
The nameplates offered as of 2023 are Explorer Limited, Maverick, F-150 Lightning, Escape (hybrid and plug-in hybrid), Mustang Mach-E, and E-Transit.
The company is also expected to roll out more Ford F-150 Lightnings vehicles to customers on the waiting list. With a market cap of $47.24B and roughly trading at $11.81, this stock is expected to rise in 2023.
General Motors designs, manufactures, and sells cars, crossovers, and trucks; and also provides services and subscriptions that are software enabled worldwide.
The company’s main subsidiaries are GM International (GMI), GM North America (GMNA), Cruise, and GM Financials. Through its GM Financial sector, it offers automotive financial services.
GMI and GMNA are in charge of the development, manufacturing, and sale of vehicles under the Buick, Cadillac, Chevrolet, and GMC brands. The Cruise segment is in control of the development and sale of autonomous vehicle technology.
CEO of General Motors, Mary Barra, revealed that the company plans on going conservative this 2023 with production and sales.
The company currently has plans to discontinue the production of engine-powered cars and shift their focus to manufacturing electric cars only by 2035, doing this would shift production to five assembly plants to allow the manufacturing of EV-only models. GM has a market cap of $46.79B as of 2023 and currently trades at $33.55 on the stock exchange under the symbol GM.
The Volvo group is involved in the manufacturing and sales of commercial vehicles both locally and internationally.
The company has segments, namely: Trucks, Construction Equipment, Buses, Volvo Penta, and Group Functions and Other, which are in charge of the different areas of the company.
Aside from manufacturing and selling automobiles, the company also offers other services like spare part sales, service agreements, insurance, information technology (IT), preventive maintenance, rental services, and assistance services.
Like its competitors, Volvo plans to manufacture only EV models by 2030, setting 2025 as a midway point to achieving that goal.
It offers two EV options and two hybrids and plans to produce sustainable vehicles while using as many recyclable materials in the manufacturing process as possible. As of April 2023, the stock is trading at roughly $20.50, with a market cap of $41.99B.
Bayerische Motoren Werke AG (BMW) deals with the production and sales of vehicles.
The company functions through its multiple sectors: Automotive, Motorcycles, Financial Services, and Other Entities.
The Automotive sector manufactures and sells cars, off-road vehicles, and their spare parts and accessories, all under the brand names BMW, MINI, and Rolls-Royce.
The Motorcycles sector is in charge of the production and sales of motorcycles along with their spare parts and accessories. The Financial Services offers credit and other financing options and services to retail customers.
Other Entities is the sector in charge of the remaining area of the company. It includes holding and group financing activities.
Although BMW faced backlash because of the idea of charging for heated seats in 2022, the company is looking for growth in sales, with plans of achieving a 10% sales for fully electric vehicles. Roughly trading at $36.85, it has a market cap of $70.82B.
