As we move into the new year now is a great time to have a look at your portfolio and see if there are any new shares you could add to supercharge it and give you a prosperous year ahead.

Two such shares you should consider adding to your portfolio in 2016 are ARB Corporation Limited (ASX: ARB) and Caltex Australia Ltd  (ASX: CTX).

ARB Corporation Limited

ARB designs, manufactures, distributes and sells high quality four-wheel drive vehicle accessories and light metal engineering works. With distributers based in over 100 countries worldwide the company is positioned well to continue the strong growth it has been showing recently that caused it to gain 40% in 2015.

In the last 10 years the company has grown its earnings by an impressive 11% per annum and is currently forecasted to continue this trend for the next two years at least.

With demand for the company’s products remaining healthy all around the world, a strong balance sheet, and long-term growth plans both in Australia and in its export markets, I believe earnings could maintain this level of growth beyond the forecasted two years, making it a great addition to your portfolio in 2016.

Caltex Australia Ltd

Caltex holds a massive 35% market share in Australia meaning it’s hard to drive anywhere without driving past a service station run by the company. This gives it a real competitive advantage. Following the market-beating return of 6.80% last year there could be further gains ahead for investors in 2016.

In the industry gross retail margins, the difference between retail prices and published wholesale prices, are at some of their highest levels since the Australian Competition and Consumer Commission (ACCC) began monitoring them in 2002. According to a report released by the ACCC in December the gross retail margin has increased to 11.8 cents per litre.

Revenue has grown by 6.1% per annum in the last five years. Supporting further growth is the upward trend we are seeing in new motor vehicle sales which is shown in the chart below.

ABSSource: Australian Bureau of Statistics

With widening gross retail margins, increasing new motor vehicles sales, and a certain level of omnipresence on our roads, 2016 looks like it will be a prosperous year for Caltex.

The technology that's going to REPLACE the Internet is already here...

Dollar for dollar, insiders are calling it one of the biggest new markets in the history of modern business... NOW is the time to get in on the hush-hush industry that could be poised for growth of over 4,463%+ by 2020... And the 1 ASX stock that stands to grow YOUR money right alongside it! Simply click here to learn its name.

HOT OFF THE PRESSES: Motley Fool’s #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our https://www.fool.com.au/financial-services-guide">Financial Services Guide (FSG) for more information.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.