It’s been a mixed year for the automotive industry, but there are some auto stocks that will surprise us in 2022…
That’s because traditional automakers are doing everything possible to jump on the EV bandwagon. Meanwhile, EV-makers are trying to increase their efficiency margins and operations. It’s been interesting to watch, to say the least.
Ford Motor Co. (NYSE: F), for example, reinstated its dividend, causing shares to climb to their highest level in nearly a decade.
Despite CEO Elon Musk liquidating a portion of his shares, Tesla Inc. (Nasdaq: TSLA) is also hovering around all-time highs.
So now is the perfect time to start looking at a few auto stocks that will surprise us in 2022…
2 Auto Stocks That Will Surprise Us in 2022
The first of my two auto stocks that will surprise us in 2022 is General Motors Co. (NYSE: GM).
I bet we’ve all heard of GM before. For those who might be behind, it’s an American automotive manufacturing company that’s been around for well over a century.
But the real question is whether it’ll be able to compete with Ford, which has gained over 140% in the past year.
GM has only gained about 57%, but it is priced favorably…
So analysts expect it to see about a 20% boost next year.
And it continues to trade at less than 10 times earnings… So GM is cheap right now, and I wouldn’t be surprised if some funds rotate into the stock before the end of 2021.
I have a price target of $80 per share before the end of Q1 2022 if we see major headlines and year-end surprises out of GM.
Check out my short video to see the other auto stock that will surprise us in 2022…
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P.S. We’re reaching the end of the year and volatility has picked up… With pending Federal Reserve action, ongoing supply chain issues and inflation dominating the headlines… it doesn’t seem likely to calm down.
That’s why Joy of the Trade’s Jeff Zananiri has found a way to trade this volatility…
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