Despite the prevailing macroeconomic headwinds, carmakers achieved a solid performance in the first half of 2023. With an uptick in year-over-year vehicle sales and major automakers seeing growth, the industry’s overall outlook seems bright.
Therefore, it could be wise for investors to buy fundamentally sound auto stocks Stellantis N.V. (STLA) and Mazda Motor Corporation (MZDAY) this month. On the other hand, it could be wise to get rid of NIO Inc. (NIO), which has struggled to maintain its profits.
