5 Fastest Growing Auto Stocks to Buy

4. XPeng Inc. (NYSE:XPEV)

1-year stock price growth as of October 20: 87.43%

XPeng Inc. (NYSE:XPEV) is a Chinese auto manufacturer that produces and sells smart electric vehicles. It is one of the top 15 chinese companies on US exchanges.

In 2023, XPeng Inc. (NYSE:XPEV) is showing aggressive growth in the EV market. The company is making record vehicle deliveries month after month. In the third quarter, XPeng Inc. (NYSE:XPEV) delivered 11,008 vehicles in July, 13,690 in August, and 15,310 in September. In the first nine months of the year, the company has not shown a single month-over-month decline in vehicle deliveries.

By 2024, XPeng Inc. (NYSE:XPEV) expects to expand its footprint in Europe, including the UK, Germany and France. The company also started its sales in the Middle East and at the end of September, it announced that it made its first exports to Israel.

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