3 Intriguing Auto Stocks to Buy Now

Core Insights - Several auto stocks are gaining attention as new additions to the Zacks Rank 1 (Strong Buy) list, indicating improved outlooks and attractive valuations for investment [1] Group 1: Auto Stocks Performance - Ford's annual dividend yield is currently at 5.09%, significantly higher than General Motors' (GM) 1.01%, making it appealing for income-seeking investors [2] - Suzuki Motor's stock has risen by 8% this year and is trading at 11.7X forward earnings, with earnings estimates for FY25 increasing by 11% over the last 60 days [4] - Cummins' stock is up 15% year-to-date, with strong operating cash flow and sales reaching $34.06 billion last year, despite a projected slight dip in fiscal 2024 [8] Group 2: Company Strategies and Projections - Cummins has benefited from strong demand in the diesel and natural gas engine market and the acquisition of Meritor for $3.7 billion has expanded its product offerings [7][8] - Ford's stock is trading at $11 and 5.8X forward earnings, with annual earnings expected at $2.02 per share for FY24 and FY25, and sales projected near $170 billion [10] - Suzuki aims to enter the EV market with plans to introduce a compact electric-powered "flying car" in 2025, enhancing investor sentiment [4]