Published on 12 May 2022 on Insider Monkey via Yahoo Finance
In this article, we discuss the 10 best automotive stocks to invest in now. If you want to skip our detailed analysis of the automotive industry which highlights current trends and major players, you can go directly to 5 Best Automotive Stocks To Invest In Now.
Even though the automobile sector suffered the adverse effects of the COVID-19 pandemic and a worldwide semiconductor shortage, data from Statista showed that 63.8 million cars were sold in 2020, and this figure went up to 66.7 million units in 2021. While some regions were hit hard by the pandemic, particularly South America and Europe where automotive sales dropped by one-fourths year over year in 2020, other regions such as China saw a recovery in car sales by 2021 where the figure had quadrupled as compared to 2020 numbers. As we move into 2022 and break free from the shackles of COVID-19, the automotive industry is undergoing a series of ground-breaking transformations as part of the EV revolution and from advancements in IoT technology to make cars "smart".
Global Automotive Industry Analysis