8 Top Auto Stocks to Buy In 2021

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5. Nio (NIO)

Nio, the Chinese electric vehicle leader, has been one of the best performers in the stock market in recent months. Nio’s stock has risen nearly 2,000 percent in the last year, and Murphy believes the high-growth stock has even more room to run. In the month of November, Nio reported a nearly 110 percent year-over-year increase in vehicle deliveries. Ming Hsun Lee, a securities analyst, believes Nio’s fundamentals are sound, and that the company’s revenue will more than double to more than $32 billion by 2021. NIO stock has a “buy” rating and a $54.70 price target from Bank of America.

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