3 Car Stocks That Could Be Bigger Than Tesla

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While TSLA is still the biggest EV company, its stock looks highly overvalued at its current price level given the company’s relatively low profit margin. Furthermore, because the current semiconductor shortage is affecting the EV industry significantly, increasing production costs and low sales might cause TSLA’s shares to retreat in the coming months.

Regardless, overall automobile sales projected to rise in the recovering global economy despite temporary headwinds in the EV industry. Given this backdrop, we believe established car manufacturers Toyota Motor Corporation (TM), Honda Motor Co., Ltd. (HMC) and Volvo ADR (VLVLY) will grow substantially in the near term, potentially overtaking TSLA.

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