8 Fastest Growing Auto Stocks to Invest in Now

2. ACV Auctions Inc. (NASDAQ:ACVA)

Year-Over-Year Sales Growth: 32.40%

3-Year Sales Growth: 21.14%

Number of Hedge Fund Holders: 35

ACV Auctions Inc. (NASDAQ:ACVA) operates a digital marketplace for wholesale automotive transactions, providing data and services to facilitate the buying, selling, and valuation of vehicles by dealers and commercial partners. It also offers a platform that includes a digital marketplace, data services, and technology-driven tools.

On February 21, Gary Prestopino analyst from Barrington maintained a Buy rating on the stock. The analyst noted that the rating was backed by strong financial results in Q4 2024, where it beat revenue and adjusted EBITDA expectations. The company delivered a 35% increase in sales and a significant improvement in adjusted EBITDA compared to the previous year, indicating market share gains and better operational efficiency. Moreover, growth in high-margin auction and assurance revenue, along with controlled expenses, boosted profitability.

During the fiscal fourth quarter of 2024, ACV Auctions Inc. (NASDAQ:ACVA) sold 183,000 vehicles and 743,000 for the full year, marking a 24% increase driven by market share gains and solid execution across remarketing centers. It is one of the fastest-growing auto stocks to invest in now.