The auto industry is undergoing a significant transformation with the rise of Electric Vehicles (EV), autonomous driving technology, and connected cars. Investing in auto stocks allows investors to tap into the potential of these disruptive technologies and be part of the future of transportation.
Against this backdrop, it could be wise to take a bullish stance on the fundamentally sound stocks American Axle & Manufacturing Holdings, Inc. (AXL) and Miller Industries, Inc. (MLR). However, owing to still-elevated inflation and its impacts, it might be wise to steer clear of investing in the fundamentally weak stock Luminar Technologies, Inc. (LAZR).
