5 Fastest Growing Auto Stocks to Buy

In this article, we discuss the 5 fastest growing auto stocks to buy. To read the latest news and detailed analysis around the auto industry, go directly to the 10 Fastest Growing Auto Stocks to Buy.

5. Ferrari N.V. (NYSE:RACE)

1-year stock price growth as of October 20: 57.36%

Ferrari N.V. (NYSE:RACE) is a designer, manufacturer, and seller of some of the finest luxury sports cars, supercars, and grand tourers in the world and is based in Italy. The company also runs a financial segment, Ferrari Financial Services, and sells its vehicles through authorized dealers only in around 60 markets worldwide. Ferrari N.V. (NYSE:RACE)’s stock price experienced a growth of 57.36% in the last twelve months, taking the 5th spot on our list of the fastest-growing auto stocks to buy.

According to Insider Monkey’s database, Ferrari N.V. (NYSE:RACE)’s number of hedge fund holders declined from 32 in Q1 to 30 in Q2. However, the total investments by hedge funds increased from $703.195 million in Q1 to $849 million in Q2. Paul Marshall and Ian Wace’s Marshall Wace LLP was the most significant stakeholder in the company in Q2 with 357,181 shares worth $116.708 million.

Ferrari N.V. (NYSE:RACE) has already entered the alternative energy vehicle market with its hybrid vehicles which accounted for 43% of its total vehicle deliveries in Q2. According to the CEO, it is expected that all-electric vehicles will account for 5% of the company’s global sales by 2026. The company is currently working on its all-electric hypercar which will be rolled out in 2025. Ferrari N.V. (NYSE:RACE) was mentioned in Ensemble Capital Management’s first quarter 2023 investor letter. Here is what it said:

“Ferrari N.V. (NYSE:RACE) (+26.48%): The luxury automaker’s long awaited Purosangue, their first four door, four seater vehicle, has proven so popular that the company announced that they have ceased accepting new orders as they are sold out through all of this year and into 2024. The Purosangue is designed not as copycat sports utility vehicle that many other luxury automakers sell, but as a true Ferrari car that their devoted fan base can use for more practical transportation needs. Since the average Ferrari is only driven a few thousand miles a year or less, they are best understood as mechanical works of art rather than a means of transportation. But with the introduction of the Purosangue, Ferrari enthusiasts will have a vehicle that meets transportation needs, while still delivering the extremely high end experience that you would expect from a car that costs about $500,000.”