8 Fastest Growing Auto Stocks to Invest in Now

5. NIO Inc. (NYSE:NIO)

Year-Over-Year Sales Growth: 15.67%

3-Year Sales Growth: 24.29%

Number of Hedge Fund Holders: 20

NIO Inc. (NYSE:NIO) is a Chinese holding company that researches, develops, and manufactures premium electric vehicles. Some of its popular models include ES8, ES6, EC6, and ET7. In addition, the company also focuses on advanced technologies including battery swapping and autonomous driving.

In Q3 2024, the company achieved a record 61,855 deliveries, maintaining its top position in China’s BEV segment. NIO Inc. (NYSE:NIO) holds a 48% market share for BEVs priced above RMB 300,000. Moreover, the company reported a vehicle margin of 13.1% in Q3, reflecting improvements in component costs.

Looking ahead,  NIO Inc. (NYSE:NIO) is ramping up its supply chain capacity, aiming for a monthly production of 20,000 units by March 2025. In addition, it also continues to grow its charging infrastructure with over 2,700 power swap stations globally. It is one of the fastest growing auto stocks to invest in now with a year-over-year sales growth of 15.67%.