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Investors’ increasing interest in the automotive space is evident in the First Trust NASDAQ Global Auto Index Fund’s (CARZ) 10.1% returns over the past month versus the tech-heavy Nasdaq’s 1.6% gains. Also, traditional automakers might be in a more beneficial position than pure electric vehicle (EV) producers based on their broad portfolio of vehicles and market dominance.
Given the automotive industry’s promising recovery prospects, analysts are optimistic about the performance of NIO Inc. (NIO) and Ford Motor Company (NYSE:F). Analysts’ views on these stocks have recently been upgraded. So, we think it could be wise to scoop up these stocks now.
