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StockNews.com
Business
Rashmi Kumari

NIO (NIO) and Volkswagen (VWAGY): Do These Auto Stocks Deserve a Spot in Your Portfolio?

NIO VWAGY Nio Inc Volkswagen

Despite macroeconomic concerns, auto sales are expected to increase due to pent-up demand and technological advancements. Therefore, it could be wise for investors to buy fundamentally sound auto stock Volkswagen AG (VWAGY) now. However, I think NIO Inc. (NIO) could be best avoided, given its weak financials.

In October, new vehicle sales in the United States hit 1,211,141 units, up 2% year-on-year, thanks to surging demand for electric vehicles (EVs) and the economic recovery.

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