10 Best Car Repair Stocks to Buy Now

5. Autoliv Inc. (NYSE:ALV)

Number of Hedge Fund Holders: 37

Autoliv Inc. (NYSE:ALV) is an automotive parts company based in Sweden. It supplies passive safety systems such as modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, and more.

This company is one with immense global reach since it has a presence in Europe, the Americas, China, Japan, and the rest of Asia. Autoliv Inc. (NYSE:ALV) has showcased its ability to leverage this reach in its favor through its recent strategic cooperation agreement with XPENG AEROHT, which is China’s leading flying car innovator. This agreement is expected to help Autoliv Inc. (NYSE:ALV) grow exponentially, as China is steadily becoming the hub of the automotive manufacturing, parts, and repair markets.

Another reason why Autoliv Inc. (NYSE:ALV) is expected to benefit from its presence in Asia is that it’s rapidly strengthening its position with fast-growing domestic Chinese OEMs. The company is also leveraging its performance in the rest of Asia, as evidenced by its outperformance in light vehicle production in South Korea, Japan, and India. Chinese OEMs also accounted for 38% of the company’s Chinese sales in the second quarter, up from 20% at the beginning of 2022. These factors highlight the positive impact of Autoliv Inc.’s (NYSE:ALV) strong global presence on its operational and financial performance.

Autoliv Inc. (NYSE:ALV) was seen in the portfolios of 37 hedge funds in the second quarter, with a total stake value of $1.2 billion.