5 Best Auto Stocks To Buy Now

2. General Motors Company (NYSE:GM)

Even though the number of investors bullish on General Motors Company (NYSE:GM) declined by nine, it still is the second most popular auto stock among the funds tracked by Insider Monkey, as 60 of them reported holding shares in their latest 13F filings. Billionaire Warren Buffett‘s Berkshire Hathaway continues to remain one of the top shareholders of General Motors, reporting ownership of 80 million shares in its latest 13F filing.

Recently, GM said it would recall 7.0 million SUV and pickup truck models worldwide to replace potentially faulty Takata air bag inflaters. The company had estimated that the costs for replacing the inflators would amount to $1.2 billion. In addition, General Motors have been of late committed to expand its electric vehicle lineup, saying it would raise spending on EVs by 35% to more than 27 billion. By 2025, General Motors Company (NYSE:GM) plans to have 30 electric vehicles offered across the world.