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2 Auto Manufacturers Under $10 to Buy Right Now By StockNews


© Reuters. 2 Auto Manufacturers Under $10 to Buy Right Now

The demand for automobiles is expected to remain high for the foreseeable future because people continue to avoid public transport amid the resurgence of COVID-19 infections. It might be a smart move to invest in the fundamentally sound automobile manufacturers Subaru Corp. (OTC 🙂 or Mazda Motor. (OTC :), as they are selling at affordable prices. Let’s discuss.The current global semiconductor shortage continues to affect auto manufacturers, especially electric vehicle (EV) makers. Although governments and businesses have taken steps to alleviate the shortage, they have also made investments.

The chip shortage has also led to an increase in demand for used vehicles. In the second quarter, 2021’s average used car transaction cost rose 21% to $25,410, an increase of 21% from the year before. The demand for cars is predicted to rise, as people avoid mass transit in order to prevent COVID-19. This will continue to drive the growth of the automotive manufacturing industry. Statista estimates that this year, there will be 69.8million cars sold.

This backdrop makes it logical to place a wager on shares of renowned car manufacturers Subaru Corporation, (FUJHY), or Mazda Motor Corporation, (MZDAY), whose prices are below $10 per share. Based on their growth prospects and fundamental strength, they are likely to rally in the short term.

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