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Stock market volatility means now is a good time for investors to look for bargains. Here’s why buying electric vehicle stocks could be a great idea.
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Electric vehicle (EV) stocks have been among the best-performing shares in recent years.
But don’t just take my word for it. According to Saxo Bank, its ‘Green Transformation’ stocks basket is one of the best-performing of the past half a decade.
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The basket — a financial instrument whose holdings include electric vehicle stocks Tesla Inc (NASDAQ:TSLA), NIO Inc and Rivian Automotive — has soared 365% in value over the past five years.
Such stocks have suffered more recently as supply chain problems and fears over the global economy have grown. But research from RBC Wealth Management suggests that investing in electric car stocks remains a great idea for long-term share investors.
In a recent report Frédérique Carrier, head of investment strategy in the British Isles and Asia at RBC, commented that:
“Demand for EVs will likely soar, underpinned by national targets to phase out internal combustion engine cars, manufacturers’ efforts to electrify their fleets, the falling cost of ownership, and improved consumer perceptions.”
Carrier said that several key factors will supercharge EV sales in the years ahead. These are:
Buying electric car stocks isn’t necessarily a slam dunk for investors, though. Let’s look at Tesla for example, an EV stock that has sunk in value in 2022.
Supply chain problems are severe and last month the EV manufacturer slashed its full-year delivery forecast. It now expects to have produced 242,000 vehicles in quarter two, down from a prior estimate of 295,000.
Sales at Tesla are also under threat as a possible recession creeps up and consumer spending sinks. Finally, competition from other EV-only manufacturers and established carmakers is also heating up.
Having said all that, I still believe Elon Musk’s company could prove a brilliant long-term investment. The company has market-leading brand recognition, helped by the widely-praised performance of its models, which are packed with new technology.
I also like Tesla’s ambitious plans to build a global network of gigafactories. It’s a programme that could supercharge profits growth as EV sales take off.
Electric car stocks give investors a chance to significantly boost returns from their shares portfolio. Tesla is just one I believe could help me improve my wealth over the next decade.
Our 5 Top Shares for the New “Green Industrial Revolution"
It was released in November 2020, and make no mistake:
It’s happening.
The UK Government’s 10-point plan for a new “Green Industrial Revolution.”
PriceWaterhouse Coopers believes this trend will cost £400billion…
…That’s just here in Britain over the next 10 years.
Worldwide, the Green Industrial Revolution could be worth TRILLIONS.
It’s why I’m urging all investors to read this special presentation carefully, and learn how you can uncover the 5 companies that we believe are poised to profit from this gargantuan trend ahead!
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Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
Should you invest the value of your investment may rise or fall and your Capital is at Risk. Before investing your individual circumstances should be considered, so you should consider taking independent financial advice.
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Should you invest the value of your investment may rise or fall and your Capital is at Risk. Before investing your individual circumstances should be considered, so you should consider taking independent financial advice.
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