These five fundamentally strong auto stocks are down up to 50% from their highs. Should you invest?
Subscribe to enjoy similar stories. The Indian auto industry's performance is widely tracked, with millions of vehicles including trucks, buses, cars, three-wheelers, scooters and bikes sold every year. India is the world’s second-largest manufacturer of two-wheelers, third-largest manufacturer of passenger cars, and largest manufacturer of three-wheelers.
The industry has dozens of original equipment manufacturers, hundreds of auto component suppliers, and thousands of dealerships that eventually sell the products to the end customers. While India's automotive landscape has long been dominated by homegrown giants, the influx of foreign automakers and the rise of electric vehicles (EVs) are reshaping the market at an unprecedented pace. Also read | Quick commerce in India: Boon or bubble waiting to burst? The auto industry is undergoing a transformation, with a growing focus on less-polluting vehicles, including hybrids and electric vehicles.
Despite the optimism around this transformation, the road ahead isn't without bumps. Several auto stocks that were once soaring have seen their prices plummet by as much as 50% from their 52-week highs. These drops could present unique investment opportunities for savvy investors.
We have filtered these stocks based on their fundamentals and the recent corrections in their stock prices. Let’s take a closer look. Ola Electric Mobility is a leading EV manufacturer in India, specialising in the vertical integration of technology and manufacturing for EVs and their components, including battery cells.
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