In this article, I have evaluated prominent auto stocks, QuantumScape Corporation (QS) and Genuine Parts Company (GPC), to predict which could be a better buy this year. After thoroughly evaluating these stocks, I think GPC is a superior choice to QS for the reasons discussed in this article.
The increased usage of technological advancement in the global auto parts market, the digitalization of automotive repair and maintenance services, and the high demand from the aftermarket are expected to drive growth in the auto part industry. As a result, the auto parts market is estimated to grow at a CAGR of 3.6% until 2027.
