Rising global demand for automobiles and economic growth in emerging markets are primary drivers for the auto manufacturing industry. Therefore, while quality auto stock Stellantis N.V. (STLA) could be a solid buy, Ford Motor Company (F) could be best kept on hold. However, Tesla, Inc. (TSLA) could be best avoided.
Anticipated enhancements in inventory management and strong consumer demand are poised to propel global auto sales to an estimated 86.80 million units in 2023, surpassing earlier forecasts. This upward trajectory is forecasted to persist in 2024, with sales projected to reach 90.20 million units, primarily credited to the improved performance of the supply chain. Notably, U.S. motor vehicle production is projected to reach approximately 11.7 million units by 2025.
