The auto industry’s growth prospects look promising due to technological advancements, the rapid adoption of EVs, the rise in new and used car sales, the growing popularity of rented cars, rising disposable incomes, and favorable government incentives.
Amid this backdrop, fundamentally strong auto stocks Honda Motor Co., Ltd. (HMC), Gates Industrial Corporation plc (GTES), and Cars.com Inc. (CARS) could be solid portfolio additions during market turmoil. Before diving deeper into their fundamentals, let’s discuss what’s happening in the auto industry.
