The automotive industry is thriving due to factors like rapid urbanization and advancements in electric vehicles and autonomous driving systems. While I think quality auto stocks Blue Bird Corporation (BLBD) and Strattec Security Corporation (STRT) could be solid buys now, Nikola Corporation (NKLA) might be best avoided this month, given its weak fundamentals.
Increasing demand for high-end passenger vehicles, urbanization and rising infrastructure spending in the economy are driving the automotive market growth. Thus, the global automotive industry is projected to grow at a 6.9% CAGR, reaching $6.95 trillion by 2030.
