Published on 19 Mar 2023 on Insider Monkey via Yahoo Finance
11 Most Promising Car Stocks According to Analysts
In this article, we will take a look at the 11 most promising car stocks according to analysts. To see more such companies, go directly to 5 Most Promising Car Stocks According to Analysts.
The market volatility that started in 2022 also took its toll on the automobile industry. The industry, which was in the spotlight for several years amid the EV boom, is expected to struggle as innovative EV companies that were hoping to follow an easy path to profitability are now facing new challenges amid inflation and slowing demand. Morgan Stanley’s Adam Jonas voiced similar concerns earlier this year. Jonas thinks 2023 would be a "hunker down" year for the sector. Jonas said in his note to investors that he continues to expect auto companies investing in electrification, but the pace of these investments will slow down as “the cyclical downturn forces incremental capital discipline."
In October 2022, RBC Capital Markets analyst Joseph Spak warned that 2023 estimates for car companies would be lower.