Despite persistent supply chain snags, the automobile sector comfortably outperformed the broader market over the past year. Over the past 12 months, the S&P 1500 Composite Automobiles Index posted a 53.7% return compared to 23.4% by the iShares Russell 1000 Growth ETF and 26.1% by the S&P 500.
A big reason for the outperformance can be chalked up to the EV revolution. Last week, the Department of Energy reported that 13 new U.S. electric vehicle battery plants are expected to be operational by 2025 in addition to Tesla Inc.'s (NASDAQ:TSLA)…The Auto Industry Growth Stocks To Watch In 2022
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