Automobile Industry
The automobile industry encompasses companies that are involved in manufacturing, supplying, retailing, and servicing motor vehicles.
Below, we explore 5 Halal stocks that belong to the automobile industry.
Note: The Shariah-compliance statuses of the stocks provided below are based on Musaffa Shariah-compliance screening of fiscal 2024 first quarter (2024 third quarter for THO) financial results using AAOIFI standards. The compliance status of stocks may undergo changes based on the screening of subsequent financial results.
Tesla (TSLA)
Tesla, Inc. engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems.
Market capitalization: 585.07B USD
Risk level: High risk – the stock is 1.52x as volatile as the SPY
Shariah-compliance status: Halal
VinFast Auto Ltd (VFS)
VinFast Auto Ltd manufactures and exports a portfolio of electric SUVs, e-scooters, and e-buses in Vietnam and the United States.
Market capitalization: 9.04B USD
Risk level: Very low risk – the stock is -0.37x as volatile as the SPY
Shariah-compliance status: Halal
Thor Industries Inc (THO)
Thor Industries, Inc. engages in the manufacture and sale of recreational vehicles.
Market capitalization: 5.04B USD
Risk level: Moderate risk – the stock is 1.41x as volatile as the SPY
Shariah-compliance status: Halal
Massimo Group (MAMO)
Massimo Group is an emerging growth company, which engages in the business of manufacturing and selling a wide selection of farm and ranch tested utility terrain vehicles, recreational all-terrain vehicles, and pontoon and tritoon boats.
Market capitalization: 156.09M USD
Risk level: Low risk – the stock is -0.73x as volatile as the SPY
Shariah-compliance status: Halal
NIU Technologies (NIU)
Niu Technologies is mainly engaged in the design, manufacture, and sale of high-performance motorcycles, scooters, bicycles, and kick scooters.
Market capitalization: 136.50M USD
Risk level: Moderate risk – the stock is 1.19x as volatile as the SPY
Shariah-compliance status: Halal
Source: Musaffa, June 2024
Disclaimer: Important information