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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
American car shoppers seem to have discovered the electric car. After a decade of slow but steady sales growth, electric vehicle registrations in the U.S. shot up 60 percent in the first quarter of 2022 even as overall new car registrations dropped 18 percent. It’s the latest indication that domestic EV acceptance may have turned some important but invisible corner recently.
The sharp increase in electric-vehicle registrations at the
April 27 (Reuters) – U.S. new vehicle sales is expected to fall in April, as low inventories and rising interest rates boost prices amid high demand, consultants J.D. Power and LMC Automotive said.
U.S. retail sales of new vehicles in April could fall 23.8% to 1.1 million units from a year earlier, according to a report released by the consultants on Wednesday.
Demand remains strong, but with fewer than 900,000 units in inventory at dealerships, sales volumes will be well below year-ago levels, said Thomas King, president of the data and analytics division at J.D. Power.
The automotive sector has been hit hard by supply issues, with production being hampered for more than a year
SUNNY ISLES BEACH, Fla. — Icahn Automotive Group L.L.C. trimmed its pre-tax operating loss for the quarter ended March 31 to $2 million from $9 million despite a 7.4% drop in revenue.
Icahn Automotive, a unit Icahn Enterprises L.P., comprises the Pep Boys auto repair and retail tire and AutoPlus auto parts distribution businesses and is the franchisor of the AAMCO and Precision Tune auto maintenance businesses.
Icahn Enterprises did not comment on the reasons for the improved earnings performance.
On the revenue side, sales dipped to $554 million as 8% higher revenue from its automotive services activities were offset by a $70 million drop in sales by its auto parts business, which the firm tied to store closures in line with its ongoing transformation plan.
The increase in automotive services revenue, to $353 million, represents an increase on a primarily organic basis as prices increased 2% over the comparable