tl;dr
AllianceBernstein has noted a shift in the electric vehicle market dynamics, with EV sales growth in the U.S. decelerating despite an increase in the number of electric vehicle models available. While the electric vehicle industry has seen significant improvements in costs and technology, there ar...
AllianceBernstein has noted a shift in the electric vehicle market dynamics, with EV sales growth in the U.S. decelerating despite an increase in the number of electric vehicle models available. While the electric vehicle industry has seen significant improvements in costs and technology, there are signs of easing demand. AllianceBernstein stated, "The pool of early EV enthusiasts is drying up. This dynamic is most clearly seen in the US, where growth in the number of EVs sold has decelerated sharply versus expectations of continued robust growth." The investment institution also emphasized that the industry is still expanding, albeit at a slower rate, and facing increased competitive pressures. AllianceBernstein anticipates that a more competitive electric vehicle landscape is likely to lead to lower profitability for certain companies and extend losses for other auto manufacturers. It cautioned, "Equity investors must be very selective in holding shares of automakers whose earnings growth is predicated on winning more EV market share." Despite these challenges, Alliance Bernstein remains optimistic about the long-term potential of the electric vehicle market, acknowledging that the landscape is evolving from its previous outlook. Investors interested in automotive stocks can monitor year-to-date price action for companies such as Toyota Motor Corporation ( 31.3% YTD), Volkswagen ( 23.4% YTD), General Motors ( 22.1% YTD), Honda Motor Co. ( 18.3% YTD), Ford Motor Company ( 9.9% YTD), Nissan Motor Co. (-1.6% YTD), Tesla (-34.7% YTD), and Rivian Automotive (-56.7% YTD). For a diversified approach to the electric vehicle sector, market participants can consider the Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV). DRIV provides exposure to companies involved in autonomous vehicles software development, electric vehicle production, and EV components, with 75 holdings in total.
More about Toyota Motor Corporation ADR
Toyota Motor Corporation ADR Summary Toyota Motor Corporation ADR Summary
Toyota Motor Corporation designs, manufactures, assembles and sells passenger cars, minivans and commercial vehicles, and related parts and accessories. The company is headquartered in Toyota, Japan.
Industry: Manufacturing, Motor Vehicles & Passenger Car Bodies
Market Cap: $327.34 billion
P/E Ratio: 10.97
Dividend Yield (%): 3.22
52-Week High: $22.15
52-Week Low: $2018.02
EPS: 0.103
Shares Outstanding: 4.37 billion
Market Cap (intraday): $224.81 billion
Beta: 0.884
PEGRatio: 0.234
More about General Motors Company
General Motors Company
General Motors Company (GM) is an American multinational corporation headquartered in Detroit, Michigan that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services, with global headquarters in Detroit's Renaissance Center.
Industry: Manufacturing, Motor Vehicles & Passenger Car Bodies
Market Cap: $52,145,598,000
EPS: 6.17
P/E Ratio: 7.32
Current Ratio: 125.98
Dividend Yield: 5.89%
Revenue (ttm): $171,841,995,000
Profit Margin: 49.91%
Operating Margin: 13.5%
Return on Equity: -0.3%
More about Honda Motor Co Ltd ADR
Honda Motor Co., Ltd. develops, manufactures, and distributes motorcycles, automobiles, electrical products, and other products in Japan, North America, Europe, Asia, and internationally. The company is headquartered in Tokyo, Japan.
Sector: Manufacturing
Industry: Motor Vehicles & Passenger Car Bodies
Market Cap: $59.81 billion
P/E Ratio: 9.72
Dividend Yield: 3.78%
Stock Price: $117.57
Price/Earnings to Growth Ratio: 0.0484
Market Value of Listed Securities: $19.38 trillion
Price to Book Ratio: 38.55
Return on Equity: 8.1%
Debt to Equity Ratio: 0.214
More about Ford Motor Company
Ford Motor Company, commonly known as Ford, is an American multinational automaker that has its main headquarters in Dearborn, Michigan.
Industry: MANUFACTURING
Sector: MOTOR VEHICLES & PASSENGER CAR BODIES
Market Cap: 52,491,653,000
P/E Ratio: 12.7
EPS: 0.6
Dividend Yield: 1.04
52-Week High: 44.07
52-Week Low: 0.0247
Shares Outstanding: 1,761,909,960,000
Revenue: 176,190,996,000
Gross Margin: 13.15
Net Income: 1.938
EBITDA: 0.045
More about Tesla Inc
Tesla Inc Summary:
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. The company's current products include electric cars, battery energy storage from home to grid-scale, solar panels, solar roof tiles, and related products and services.
In 2020, Tesla had the highest sales in the plug-in and battery electric passenger car segments, capturing 16% of the plug-in market (including plug-in hybrids) and 23% of the battery-electric (purely electric) market. Through its subsidiary Tesla Energy, the company develops and is a major installer of solar photovoltaic energy generation systems in the United States. Tesla Energy is also one of the largest global suppliers of battery energy storage systems, with 3 GWh of battery storage supplied in 2020.
Manufacturing Statistics:
Industry: Motor Vehicles & Passenger Car Bodies
Market Cap: $544.95 billion
Dividend Yield: 0.155
Price to Earnings Ratio: 39.79
EPS: $4.30
Revenue: $30.49 billion
Net Income: $96.77 billion
Shares Outstanding: 190.6 million
Public Float: 1.115 billion
Short Interest: 0.035
More about Rivian Automotive Inc
Rivian Automotive Inc
Industry: Manufacturing - Motor Vehicles & Passenger Car Bodies
Revenue: $9.90 billion
Net Income: -$5.74
EBITDA: $4.682 billion
Profit Margin: -1.225%
Market Cap: $4.43 billion
P/E Ratio: 18.08
Dividend Yield: 0%
Beta: 0.983
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