With a stellar performance in the first half of 2023 and an uptick in year-over-year U.S. vehicle sales, the industry’s overall outlook seems promising. In this piece, I have evaluated the fundamentals of three auto stocks, namely, Rivian Automotive, Inc. (RIVN), Tesla, Inc. (TSLA), and Volkswagen AG (VWAGY), to help you navigate if it’s the time to buy, sell or hold these stocks.
With new-vehicle inventory at a two-year high, August’s sales volume is expected to surge by 18.8% year-over-year, reaching an impressive 1.37 million units. In addition, new vehicle sales are projected to rise more than 3% from last month. While some pent-up demand has been met, the industry can still rely on higher incentives and increased fleet sales to maintain this positive momentum.
