Introduction of autonomous vehicles and increasing demand for high-end passenger vehicles and electric vehicles are expected to drive growth in the auto industry. However, fluctuating raw material prices continue to impact the industry. Therefore, while I think quality auto stock Subaru Corporation (FUJHY) might be a solid buy now, Harley-Davidson, Inc. (HOG) might be best kept on hold, and Workhorse Group Inc. (WKHS) might be best avoided, given its weak fundamentals.
The growth of the automotive market is influenced by various factors such as the adoption of electric vehicles, the development and manufacturing of long-range batteries along with the installation of fast and ultra-fast charging points, the introduction of autonomous vehicles, deployment of 5G connectivity and trends related to used cars.
