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3 stocks that could drive your portfolio higher

Henry Ford, the man credited with mastering the benefits of the assembly line made a fortune from the automotive sector. Not only does his namesake still exist today, but he also still ranks amongst the world’s wealthiest people of all-time – adjusted for inflation, his wealth when he died in 1947 was approximately $188 billion!

While the following companies may not make you the kind of wealth that Henry Ford accumulated from the automotive sector, they could well help drive your portfolio higher.

AMA Group Ltd (ASX: AMA) provides investors with exposure to numerous auto sector markets, including panel crash repair, vehicle protection products such as bull bars, and the wholesale distribution of automotive accessories. The group reported a flat profit year-on-year in financial year (FY) 2014 of $8.7 million. With management confident that it can consolidate the panel crash repair industry, AMA could be set for solid growth in the coming years.

ARB Corporation Limited (ASX: ARP) has been an outstanding investment for many investors with the company growing its earnings over the past decade thanks to a suite of popular vehicle accessories such as roof racks, bull bars and canopies. The stock price has increased by 143% in the past five years and has outperformed the S&P/ASX 200 (INDEX: ^AXJO) (ASX: XJO) over the last year with a gain of 13.5%. While the mining boom has put a dent in ARB’s growth profile, the quality and popularity of the company’s products should see the group continue to do well.

Quickstep Holdings Limited (ASX: QHL) is a relative minnow on the ASX with a market capitalisation of just $70 million, but it already boasts some major contracts which should see significant revenues flow to the group over the next two decades. Currently Quickstep’s patented manufacturing technology – which efficiently produces an advanced composite – is primarily used in the aviation industry with contracts for producing composite parts for the Joint Strike Fighter projects. However, Quickstep’s capabilities are also expected to become increasingly popular within the high-performance and electric powered car manufacturing process.

These 3 stocks could be the next big movers in 2020

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*Returns as of 6/8/2020

Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article.

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