In recent years, car stocks have been going through some major changes. Earlier this year, the European Parliament approved a new law banning sales of petrol and diesel cars starting in 2035. The reason is to combat climate change in the EU. Today we are counting down the Top 4 car stocks to trade in 2023.
With world governments pushing green policies, most major car manufacturers have decided to start offering hybrid and electric options along with conventional engines.
Return to Normal & the Introduction of Fuel Cell Electric Vehicles (FCEVs)
Now that we’re out of the woods regarding the chip shortage, more cars are being produced. This opens the possibility of car prices dropping throughout 2023. Also, many car manufacturers are very optimistic about this year being a return to pre-covid sales.
What’s more, there are some novelties to look out for. Fuel cell electric vehicles (FCEVs) are en route to becoming an alternative to EVs. The FCEV uses hydrogen to power a car in the same way as the batteries of an electric vehicle, but it uses pure hydrogen for propulsion.
The car market is evolving very quickly and there’s a whole lot that affects car stocks. Make sure you stay up to date with recent events by following our blog.
TESLA (TSLA)
Tesla had a rough start to 2023. Missing its 2022 deliveries target resulted in a 10% stock drop at the beginning of this year. When factoring in a decline of over 70% in 2022, you might start having some second thoughts if you’re a TSLA holder.
That said, Elon Musk’s Tesla is still looking ahead of the curve regarding technology and offer. Cybetruck makes another round around the internet and is said to be released by the end of 2023.
There’s also Tesla Semi which holds the potential to revolutionize land transport and trucking in particular. There are also some reports of Tesla considering adding a $25,000 base model to a promising year ahead of the auto giant.
Tesla is also the obvious forerunner in the electric vehicle market. While other manufacturers throw immense amounts of money to catch up in the EV race, Tesla continues to be the poster boy of the electric revolution.
Nevertheless, Tesla’s performance last year and the monumental 70% drop still echo today. As promising and massive as it is, many investors do not consider it as stable as some major competitors.
General Motors
GM’s 2023 EV lineup also looks very impressive. CEO Mary Barra announced ambitious plans to focus exclusively on building EV passenger vehicles by 2035.
GM’s EV lineup for 2023 includes the following:
- Chevrolet Equinox – The EV Equinox is scheduled for release this fall. The vehicle is estimated to offer up to a 300-mile range on a single charge, a 70-mile charge in ten minutes, and an 8-year/100,000 miles battery limited warranty.
- Chevrolet Blazer EV – The electric version of the Blazer is scheduled to come out this Summer. The car is estimated to offer up to a 320-mile single-charge range.
- Chevrolet Silverado RST – The 2024 Silverado EV will be available in Fall 2023. Offering an estimated 400-Mile Range On A Full Charge and a 10,000 LBS. max towing, Silverado is looking to make a play in the EV truck market.
- Bolt EV and EUV – Affordable all-electric vehicles that offer a range of up to 259 and 250 miles per charge, respectively. They feature a range of advanced features like wireless Apple CarPlay and Android Auto, a 10.2-inch touchscreen display, and a range of driver-assist features.
When it comes to the US market, GM is a given. GM’s stock looks promising, with a solid EV truck and passenger vehicle lineup.
Stellantis
Stellantis, the parent company of several automotive brands, including Jeep, Ram, Dodge, Chrysler, and Fiat, has announced ambitious plans to expand their electric vehicle offerings in the coming years.
Introducing its Aggressive Electrification Roadmap, Stellantis is looking to achieve an ambitious target of having a 100% of all passenger car battery electric vehicles sales mix in Europe and 50% passenger car and light-duty truck sales mix in the U.S. by the end of 2023.
Here are some of the key targets and initiatives in Stellantis’ EV plans:
- Electrified models: Stellantis plans to launch 21 electrified models by 2025, covering all of their brands, including Jeep, Ram, Dodge, Fiat, and Maserati. They also plan to offer electrified versions of all their models by 2024.
- Charging infrastructure: Stellantis has partnered with charging infrastructure providers to expand access to fast-charging stations across Europe and North America. They also plan to invest in public and private charging infrastructure to support growing EV demand.
- Battery production: Stellantis is investing in battery production capacity, with plans to build five battery factories in Europe by 2030. They aim to have the capacity to produce up to 260 GWh of batteries per year by 2030.
- Sustainability: Stellantis is committed to making its EV production and supply chain as sustainable as possible, with a goal of achieving a carbon-neutral balance by 2050.
- Partnerships: Stellantis is working with governments, utilities, and other stakeholders to support the transition to EVs, including participating in initiatives to improve charging infrastructure and support the adoption of EVs in urban areas.
Overall, Stellantis’ EV goals reflect the growing demand for sustainable mobility. It also highlights the need for automotive companies to adapt to a changing market. With a diverse range of brands and models and significant investment in research and development, battery production, and charging infrastructure, Stellantis is well-positioned to play a significant role in the transition to electric mobility.
Volkswagen
Volkswagen is another car manufacturer that has made a significant commitment to electric vehicles (EVs). Volkswagen’s goal is no less ambitious, aiming to become the world’s largest EV manufacturer by 2025. Here are some highlights of Volkswagen’s EV plans:
- EV platforms: Volkswagen has developed a dedicated platform for electric vehicles called the Modular Electric Drive Matrix (MEB), which will underpin a range of electric models across their brands.
- Electric models: Volkswagen plans to introduce all-electric models across its brands in the coming years.
- Battery production: Volkswagen is investing in battery production capacity, with plans to build six battery factories across Europe by 2030. They aim to have the capacity to produce up to 240 GWh of batteries per year by 2030.
- Charging infrastructure: Volkswagen plans to partner with charging infrastructure providers to expand access to fast-charging stations across Europe, with the goal of having 18,000 charging points in place by 2025.
- Sustainability: Volkswagen is committed to making its EV production and supply chain as sustainable as possible, with a goal of achieving a carbon-neutral balance by 2050.
Volkswagen’s commitment to electric vehicles is part of a broader effort to transition to a more sustainable, low-carbon future. Volkswagen is well-positioned to play a leading role in the electric vehicle market in the future. Thanks to its range of electric models in the pipeline and significant investment in battery production and charging infrastructure.
