Top 10 Auto Manufacturers Stocks to Watch in Aug 2024: Essential Guide for Investors

What are Auto Manufacturers Stocks?

The auto manufacturing sector is a crucial part of the global economy, involving the design, development, manufacture, marketing, and sale of motor vehicles. As technology advances and consumer preferences shift, this industry is undergoing rapid transformations, including the rise of electric vehicles (EVs) and the development of autonomous driving technologies. Major markets like the United States, Europe, and China are seeing significant shifts as manufacturers adapt to these new trends.

Key Aspects of Auto Manufacturers Stocks

1. Electric Vehicle Production:

   • With the increasing global demand for sustainable transportation solutions, electric vehicle manufacturers are becoming a significant force in the auto industry.
   • Examples: Tesla, Rivian and NIO.

2. Traditional Vehicle Manufacturing:

   • These companies focus on the design and production of internal combustion engine vehicles, boasting deep technological expertise and broad market presence.
   • Examples: Ford, General Motors and Toyota.

3. Automotive Technology Innovation:

   • Auto manufacturers are continually exploring new technologies such as autonomous driving and connected cars to enhance vehicle intelligence and connectivity.
   • Examples: Alphabet, Apple and Samsung.

10 Top Auto Manufacturers Stocks

1. Tesla(TSLA.US)

   • Company overview

     Tesla, Inc. engages in the design, development, manufacture, and sale of electric vehicles and energy generation and storage systems. The company operates through Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits. The Energy Generation and Storage segment is involved in the design, manufacture, installation, sale, and lease of stationary energy storage products and solar energy systems, and sale of solar energy systems incentives. The company was founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003 and is headquartered in Austin, TX.

   • Market value of Tesla(TSLA.US): US$691.609B

   • Stock price performance in 2024: -12.73%

   • What's the latest news:

     Tesla Q2 Earnings: Tesla releases Q2 2024 earnings, facing challenges in automotive sales but sees significant growth in energy storage.

     Tesla Stock Rebounds: Despite weak Q2 earnings, analysts remain optimistic about Tesla's potential in non-automotive sectors.

     Tesla Stock Rises: Tesla's stock price increases in early Wednesday trading, supported by overall market performance.

     Tesla FSD Improvements: Elon Musk states significant improvements in Tesla's FSD technology expected in August.

     Tesla Valued at $1 Trillion: Analyst raises Tesla's valuation to $1 trillion, primarily due to its promising energy storage sector.

2. Toyota Motor(TM.US)

   • Company overview

     Toyota Motor Corp. engages in the manufacture and sale of motor vehicles and parts. It operates through the following segments: Automotive, Financial Services, and All Other. The Automotive segment designs, manufactures, assembles and sells passenger cars, minivans, trucks, and related vehicle parts and accessories. It is also involved in the development of intelligent transport systems. The Financial Services segment offers purchase or lease financing to Toyota vehicle dealers and customers. It also provides retail leasing through lease contracts purchased by dealers. The All Others segment deals with the design, manufacture, and sale of housing, telecommunications and other businesses. The company was founded by Kiichiro Toyoda on August 28, 1937 and is headquartered in Toyota, Japan.

   • Market value of Toyota Motor(TM.US): US$241.200B

   • Stock price performance in 2024: -1.24%

   • What's the latest news:

     Q1 Earnings Preview: Toyota Motor is set to release its Q1 earnings for fiscal year 2025 on August 1, expected to surpass market expectations.

     Production Resumption: Toyota Motor has lifted the shipping stoppage on three vehicle types, with limited market reaction.

     Stock Underperforms: Toyota Motor's stock declines as the market gains, underperforming compared to the broader market.

     Profit Increase in Q1: Toyota Motor reports a rise in Q1 net profit, aided by stronger hybrid vehicle sales and a weaker yen.

3. Ferrari(RACE.US)

   • Company overview

     Ferrari NV is a holding company, which engages in the design, engineering, production, and sale of luxury sports cars. The firm's models include the F12Berlinetta, 488GTB, 488 Spider, 458 Speciale, California T, the LaFerrari Hybrid, LaFerrari, and the FF four-wheel drive. It participates in car racing such as Formula One. The company was founded by Enzo Anselmo Ferrari in 1939 and is headquartered in Maranello, Italy.

   • Market value of Ferrari(RACE.US): US$75.898B

   • Stock price performance in 2024: +25.38%

   • What's the latest news:

     Profit Growth: Ferrari reports increased net profit and revenue in H1.

     Earnings Beat: Ferrari consistently beats earnings estimates in recent quarters.

     Stock Rises: Ferrari's shares climb following strong Q2 performance.

     Strong Q2 Results: Ferrari's Q2 financial results exceed expectations, boosting stock.

     Q2 Financials Exceed: Ferrari's Q2 financial outcomes surpass expectations, shares trade higher.

4. Honda Motor(HMC.US)

   • Company overview

     Honda Motor Co., Ltd. engages in the manufacture and sale of automobiles, motorcycles, and power products. It operates through the following segments: Automobile, Motorcycle, Financial Services, and Power Product and Other Businesses. The Automobile segment manufactures and sells automobiles and related accessories. The Motorcycle segment handles all-terrain vehicles, motorcycle business, and related parts. The Financial Services segment provides financial and insurance services. The Power Product and Other Businesses segment offers power products and relevant parts. The company was founded by Soichiro Honda on September 24, 1948 and is headquartered in Tokyo, Japan.

   • Market value of Honda Motor(HMC.US): US$49.797B

   • Stock price performance in 2024: +2.28%

   • What's the latest news:

     Mitsubishi Joins Alliance: Mitsubishi Motors is set to join an alliance with Honda Motor and Nissan Motor, creating an auto group with sales exceeding 8 million vehicles.

     Honda's June Production: Honda Motor Co., Ltd. has announced its automobile production, domestic sales, and export results for June 2024.

     Mitsubishi Strengthens Position: Mitsubishi Motors will join the Honda-Nissan alliance, focusing on standardizing in-vehicle software to enhance the competitiveness of next-generation vehicles.

5. General Motors(GM.US)

   • Company overview

     General Motors Co. engages in the designing, manufacturing, and selling of trucks, crossovers, cars, and automobile parts, and in providing software-enabled services and subscriptions. It operates through the following segments: GMNA, GMI, Cruise, and GM Financial. The company was founded by William C. Durant on September 16, 1908 and is headquartered in Detroit, MI.

   • Market value of General Motors(GM.US): US$48.745B

   • Stock price performance in 2024: +21.42%

   • What's the latest news:

     Midday Stock Surge: General Motors' stock surged due to a carbon fiber wheel supply deal.

     GM's New Collaboration: General Motors partners with Carbon Revolution to supply carbon fiber wheels for the Chevrolet Corvette ZR1.

     UAW Endorses Harris: The United Auto Workers formally endorsed Vice President Kamala Harris for president.

     GM's New Partnership: General Motors collaborates with Hesai Technology on lidar technology for joint ventures in China.

     GM Receives Buy Rating: Evercore ISI analyst reaffirms a Buy rating on General Motors with a target price of $55.

6. Stellantis NV(STLA.US)

   • Company overview

     Stellantis NV engages in the design, manufacture, distribution, and sale of vehicles. It offers its products under the Abarth, Alfa Romeo, Chrysler, Citro?n, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Opel, Peugeot, Ram, and Vauxhall brands. The company was founded on April 01, 2014 and is headquartered in Hoofddorp, the Netherlands.

   • Market value of Stellantis NV(STLA.US): US$48.007B

   • Stock price performance in 2024: -25.24%

   • What's the latest news:

     AI Tech Collaboration: Stellantis NV brands to use SoundHound AI's voice assistant in European markets.

     Stock Downgraded: Deutsche Bank downgrades Stellantis NV stock from buy to hold.

     Poor Quarterly Performance: Stellantis NV underperforms this quarter, with analysts highlighting strategic missteps.

     Analyst Ratings: Stellantis NV receives mixed stock ratings from various analyst firms recently.

7. Ford Motor(F.US)

   • Company overview

     Ford Motor Co. engages in the manufacture, distribution, and sale of automobiles. It operates through the following segments: Ford Blue, Ford Model E, Ford Pro, Ford Next, Ford Credit, and Corporate Other. The Ford Blue, Ford Model E, and Ford Pro segment includes the sale of Ford and Lincoln vehicles, service parts, and accessories, together with the associated costs to develop, manufacture, distribute, and service the vehicles, parts, and accessories. The Ford Next segment is involved in the expenses and investments for emerging business initiatives aimed at creating value for Ford in vehicle-adjacent market segments. The Ford Credit segment consists of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. The Corporate Other segment refers to corporate governance expenses, past service pension and OPEB income and expense, interest income and gains and losses from cash, cash equivalents, and marketable securities, and foreign exchange derivatives gains, and losses associated with intercompany lending. The company was founded by Henry Ford on June 16, 1903 and is headquartered in Dearborn, MI.

   • Market value of Ford Motor(F.US): US$42.495B

   • Stock price performance in 2024: -8.87%

   • What's the latest news:

     Tesla Replaces Ford: Morgan Stanley names Tesla as the top pick in the U.S. auto industry, replacing Ford.

     Stellantis Production Delays: Stellantis faces delays in electric vehicle production due to software and power system issues.

     Ford Reverts to Traditional: Ford decides to convert a Canadian EV plant into a facility for building Super Duty trucks.

     Ford Shares Drop: Ford's Q2 earnings per share miss expectations, leading to a 1.79% drop in stock price.

     Morgan Stanley Maintains Buy: Morgan Stanley maintains a buy rating on Ford but cuts the target price from $17 to $16.

8. Li Auto(LI.US)

   • Company overview

     Li Auto, Inc. engages in the design, development, manufacture, and sale of premium smart electric vehicles. Its products include Li MEGA, a high-tech flagship family MPV, Li L9, a six-seat flagship family SUV, and Li L8, a six-seat premium family SUV, and Li L7, a five-seat flagship family SUV. The firm also offers in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions. The company was founded by Xiang Li in April 2015 and is headquartered in Beijing, China.

   • Market value of Li Auto(LI.US): US$20.552B

   • Stock price performance in 2024: -48.25%

   • What's the latest news:

     Record High Sales: Li Auto achieves a record high in July deliveries, with a 49.4% year-over-year increase.

     Weekly Sales Controversy: Li Auto's weekly sales figures spark industry controversy, with multiple automakers expressing opposition.

     NVH Technology Advances: Li Auto makes significant advancements in NVH technology, enhancing vehicle comfort.

     Weekly Sales Chart Dispute: Li Auto's weekly sales chart stirs controversy again, facing public opposition from other brand executives.

9. Rivian Automotive(RIVN.US)

   • Company overview

     Rivian Automotive, Inc. engages in the design, development, and manufacture of category-defining electric vehicles and accessories. The company was founded by Robert J. Scaringe in June 2009 and is headquartered in Irvine, CA.

   • Market value of Rivian Automotive(RIVN.US): US$15.169B

   • Stock price performance in 2024: -35.04%

   • What's the latest news:

     Amazon's EV Goal Lagging: Amazon is far from its target of deploying 100,000 electric delivery vans by 2030.

     Rivian Outperforms Tesla: Rivian surpasses Tesla in a J.D. Power satisfaction survey, becoming the top brand.

     Rivian Stock Rises: Rivian's stock price increases amid overall market strength and positive semiconductor industry performance.

     Rivian's Earnings Preview: Rivian is set to report its financial results after the market closes on August 6.

     Rivian Stock Outlook: Despite multiple pressures, upcoming quarterly results could positively impact Rivian's stock price.

10. VinFast Auto(VFS.US)

    • Company overview

      VinFast Auto Ltd. engages in designing and manufacturing electric vehicles. It offers electric scooters (e-scooters) and electric buses (e-buses). It provides e-mobility ecosystem built around customers, community and connectivity alongside new vehicle roll-out. The company was founded by Pham Nhat Vuong in June 2017 and is headquartered in Hai Phong City, Vietnam.

    • Market value of VinFast Auto(VFS.US): US$9.118B

    • Stock price performance in 2024: -53.41%

    • What's the latest news:

      Financial Restatement: VinFast Auto to restate its 2023 financials and Q1 2024 results.

      Financials Unreliable: VinFast Auto's board declares 2023 and Q1 2024 financial statements unreliable.

      Q2 Results Expected: VinFast Auto expects to announce Q2 2024 financial results by mid-September.

      Restating Financials: VinFast to restate unaudited financial statements for Q1 2024.

      SEC Filing Restatement: VinFast to restate Q1 2024 financial statements according to SEC filing.