8 Fastest Growing Auto Stocks to Invest in Now

4. Lucid Group, Inc. (NASDAQ:LCID)

Year-Over-Year Sales Growth: 35.71%

3-Year Sales Growth: 210.02%

Number of Hedge Fund Holders: 24

Lucid Group, Inc. (NASDAQ:LCID) is an automotive technology company that designs, develops, and manufactures luxury electric vehicles, EV powertrains, and battery systems. It is known for its flagship model, the Lucid Air, a luxury sedan that offers impressive range and performance. The company also develops proprietary software and hardware in-house, which enables them to offer advanced features and technologies in their vehicles.

Fiscal 2024 was one of the best years for Lucid Group, Inc. (NASDAQ:LCID) as it delivered 10,241 cars during the year. As per the management, Lucid Air was a top-selling EV in its class in the US, even beating out some gas-powered cars in the second half of 2024. During the year the company produced 9,029 vehicles, which aligned with its projected target of 9,000. Moreover, the fourth quarter revenue was $234.5 million, with improved gross margins at negative 114% from the previously negative 225% margins.

Looking ahead, Lucid Group, Inc. (NASDAQ:LCID) is aiming at increasing customer deliveries through marketing and retail. Moreover, it is also advancing its technologies with hands-free driving. It is one of the fastest-growing auto stocks to invest in now.