What stock is better than Tesla?
Hyundai and Kia have enjoyed high demand for their EVs
Over the past year, these influential players, both integral parts of the Hyundai Motor Group conglomerate, together secured the second position in US EV sales, closely trailing industry leader Tesla, according to sales data provided by S&P Global.
Hyundai and Kia have enjoyed high demand for their EVs
Over the past year, these influential players, both integral parts of the Hyundai Motor Group conglomerate, together secured the second position in US EV sales, closely trailing industry leader Tesla, according to sales data provided by S&P Global.
| Company (Ticker) | Market Capitalization |
|---|---|
| Tesla Inc (TSLA) | $553 billion |
| Ford Motor Company (F) | $53 billion |
| Li Auto Inc (LI) | $31 billion |
| ON Semiconductor Corp (ON) | $32 billion |
| S.No. | EV Stocks in India (as per analyst ratings) | BUY Analyst Rating (in %) |
|---|---|---|
| 1. | Mahindra & Mahindra | 89 |
| 2. | Tata Motors | 78 |
| 3. | Maruti Suzuki India | 70 |
| 4. | TVS Motor Company | 61 |
In Q4 2023, Rivian lost around $40,000 for every vehicle sold. That was unquestionably far better than its loss of more than $160,000 per vehicle in Q4 2022, but it still has far to go before it could hope to unseat Tesla, let alone become worthy of a spot in your portfolio.
In the global EV race, Tesla and BYD are currently well ahead of Volkswagen Group and we do expect a sizeable gap to remain for the next few years. Bloomberg Intelligence predicts that electric vehicle sales will be dominated by Tesla and BYD for at least the next 5 years, with Volkswagen AG trailing behind.
Dan Ives, a Wall Street analyst whose EV takes I generally like a lot, seems to be the most optimistic about Rivian so far: Ives said clear winners will emerge besides Tesla, and despite the stumbles, Rivian and Lucid are still in a position for success.
| Ticker | Company | Performance (1 Year) |
|---|---|---|
| FCX | Freeport-McMoRan Inc | 20.91% |
| ENS | Enersys | 9.46% |
| FLNC | Fluence Energy Inc | 7.20% |
| ADI | Analog Devices Inc. | 3.94% |
Before you buy stock in Lucid Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Lucid Group wasn't one of them.
Automakers have reported impressive January delivery numbers and are optimistic about the revival of the industry in 2024. It may take some time for all the EV stocks to recover, but a few stocks are trading at a discount today, and they have the potential to double in 2024.
Which stock will boom in 2024?
| S.No. | Company | Industry/Sector |
|---|---|---|
| 1. | Tata Consultancy Services Ltd | IT - Software |
| 2. | Infosys Ltd | IT - Software |
| 3. | Hindustan Unilever Ltd | FMCG |
| 4. | Reliance Industries Ltd | Refineries |
Tesla. With a market cap of over $560 billion, Tesla is the largest EV manufacturer in the world. Various attributes differentiate Tesla from other automakers, but the most notable is its supply chain.
- Canoo. 5-year search growth: 725% ...
- Fisker. 5-year search growth: 1,900% ...
- WeaveGrid. 5-year search growth: 1,800% ...
- Freewire Technologies. 5-year search growth: -100% ...
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- Aptiv. ...
- Zoox.
Lucid, for its part, says it has enough cash on hand, $4.78 billion, to last it into 2025. Plus, it's majority-owned by the sovereign fund of the enormously wealthy Saudi government, which could offer a liferaft if things get too choppy.
Tesla (TSLA) stock is angling lower in 2024, falling around 30% as analysts project 2024 vehicle deliveries could undercut last year's total with profit forecasts continuing to fall ahead of first-quarter earnings.
For Rivian (RIVN -2.27%) investors, the storm led to disappointing production guidance that would leave 2024 roughly flat compared to last year. However, that doesn't mean the company can't still thrive in 2024. Here's a look at some positive developments for the young EV maker.
BYD beats Tesla for a second straight year after producing more than 3 million cars in 2023. BYD said Monday it produced more than 3 million new energy vehicles in 2023, putting the Chinese electric car giant on track to surpass Tesla's production for a second straight year.
Who Are Tesla's Top 3 Competitors? Ford, GM, NIO, and Volkswagen are four of Tesla's main competitors. In 2022, the Chinese manufacturer BYD sold more than 1.85 million plug-in electric cars, more than tripling its 2021 result of 593,745.
| Stock | Implied upside over Feb. 9 close |
|---|---|
| General Motors Co. (GM) | 94.5% |
| Toyota Motor Corp. (TM) | 3.9% |
| Ford Motor Co. (F) | 65.6% |
| Ferrari NV (RACE) | 16.2% |
Rivian Automotive Inc (NASDAQ:RIVN)
California-based EV company Rivian Automotive Inc (NASDAQ:RIVN) ranks 6th in our list of the top Jeff Bezos investments in 2024. According to some reports Amazon owns about 10% to 15% stake in Rivian.
Why is EV not the future?
While bigger batteries allow drivers to travel farther between charges, they also make the cars heavier, more dangerous, more expensive, and worse for the planet. The "range anxiety" that has resulted in massive batteries is another reason EVs don't work as a replacement for gas cars.
Electric automaker Rivian makes a tiny lineup of just two vehicles but has the happiest owners of any car company, according to Consumer Reports. “This year, the EV automaker Rivian RIVN, with its R1S and R1T, takes Tesla's TSLA former perch at the top of our brand satisfaction list,” CR explains.
While NIO has been making impressive strides, the company still has a long way to go before it can compete with Tesla in terms of production volume and global reach.
Not only is Li Auto one of China's biggest EV players, but also it recorded more than 30% gains in 2024. This was due to it becoming the nation's first major EV startup to become profitable. Astonishingly, Li's Q4 2023 gross profit of around $1.38 billion represents an increase of 174.4% on Q4 2022.
The Tesla Model Y is #1 again in the electric vehicle market. Registrations were up 63% year over year (YoY) in January, to over a million units. China's market was the main driver of growth.
