Big 6 U.S. Car Companies’ Stock Over the Last 90 Days
The automotive industry is in a state of dynamic transition, with electric vehicles gaining traction and traditional internal combustion engine (ICE) manufacturers facing varying degrees of success. Here's a snapshot of how the major U.S. car companies have performed in the stock market over the last 90 days.
Electric Vehicle Leaders
Tesla (TSLA) - Up to $837 Billion Tesla continues to lead the charge in the electric vehicle market, demonstrating significant growth. Over the past 90 days, Tesla’s stock has seen a notable increase, reaching a market cap of $833 billion. This surge is attributed to strong delivery numbers, continued innovation, and expansion in international markets. Tesla’s robust performance reaffirms its position as the front-runner in the EV industry.
Rivian (RIVN) - Up to $16 Billion Rivian, the newcomer making waves in the electric truck and SUV segment, has also seen its market cap rise to $16 billion. Despite being a relatively young company, Rivian’s growth is fueled by strategic partnerships, strong pre-order numbers, and investor confidence in its potential to disrupt the traditional automotive market. The recent stock uptick reflects optimistic investor sentiment around its future prospects.
Lucid (LCID) - Up to $7.5 Billion Lucid Group, known for its luxury electric sedans, has experienced growth, with its market cap increasing to $7.5 billion. The rise in Lucid’s stock is driven by the successful delivery of its high-performance vehicles and ambitious plans for expansion. Lucid’s ability to deliver on its promises and carve out a niche in the luxury EV market has bolstered investor confidence.
Internal Combustion Engine Giants
Ford (F) - Down to $51 Billion Ford’s stock has taken a hit over the last 90 days, with its market cap decreasing to $51 billion. Despite efforts to transition towards electric vehicles with the introduction of models like the Mustang Mach-E and F-150 Lightning, Ford continues to face challenges in balancing its legacy ICE business with its future EV ambitions. Supply chain issues and production delays have also contributed to the stock decline.
Stellantis (STLA) - Way Down to $57 Billion Stellantis, the multinational formed from the merger of Fiat Chrysler Automobiles and PSA Group, has seen a significant drop in its market cap to $57 billion. The company’s diverse brand portfolio, while a strength, also presents challenges in streamlining operations and maintaining consistent growth. Market reactions to Stellantis' strategy and performance have been less favorable, reflecting in its stock performance.
General Motors (GM) - Up to $53 Billion General Motors has managed to buck the trend among traditional automakers, with its market cap rising to $53 billion. GM’s proactive approach to electrification, with substantial investments in its Ultium battery platform and a slew of upcoming EV models, has resonated well with investors. GM’s commitment to a zero-emissions future and its ability to execute on its vision are key factors driving its stock upward.
The last 90 days have highlighted a clear trend in the automotive industry: electric vehicle companies are gaining investor confidence and market cap, while traditional ICE manufacturers face a more challenging landscape. The shift towards electrification is evident, with companies like Tesla, Rivian, and Lucid leading the charge. Meanwhile, established giants like Ford and Stellantis are grappling with the complexities of transition, and GM’s positive movement indicates that strategic pivots towards EVs can yield favorable results.
As the industry continues to evolve, the performance of these companies will serve as a barometer for the broader shift from internal combustion engines to electric vehicles. Investors and consumers alike will be watching closely to see how these giants adapt to the changing landscape and what the future holds for the automotive market.