The auto and EV complex delivered a sharply mixed picture by the end of trading on Wednesday, December 10, 2025. While legacy car giant General Motors (GM) pushed to a fresh all‑time high and Toyota climbed on activist interest, pure‑play EV names such as Rivian (RIVN) and Lucid (LCID) remained volatile as investors weighed talk of an “EV winter,” waning tax incentives, and looming policy shifts in Europe. [1]
The backdrop: global markets traded nervously ahead of the U.S. Federal Reserve’s final interest‑rate decision of the year, with futures and major ETFs little changed as investors positioned around the macro risk event. [2]
Below is a sector‑by‑sector wrap of car, motorcycle and EV stocks after the bell on December 10, 2025, and what today’s news flow may mean for the days ahead.
Macro backdrop: autos trade into a Fed decision and policy overhang
- U.S. equity futures started the day modestly higher, with broad‑market ETFs like VTI and VOO essentially flat as traders waited on the Fed’s rate call and updated dot plot. [3]
- In India, benchmark indices closed lower—Sensex down about 0.3% and Nifty near 25,750—with auto‑linked names like Eicher Motors among the standout gainers even as mid‑ and small‑caps dragged. [4]
- Across Europe and Japan, sentiment was cautious, with indices slightly weaker as traders watched both the Fed and Bank of Japan; Japanese auto names benefited from yen moves and stock‑specific catalysts. [5]
For car, moto and EV stocks, that meant high dispersion: some legacy manufacturers are trading like stable value plays, while many EV‑pure plays and suppliers still trade like high‑beta growth stocks.
Detroit legacy carmakers: GM at record highs, Ford digesting EV hangover
General Motors (GM): record share price and valuation debate
GM stock surged to a new all‑time high around $78.04, extending a powerful multi‑month rally. An Investing.com update noted the shares are up about 50% over the past year and roughly 58% in the past six months, with dividend hikes and capital‑return plans helping fuel the move. [6]
Key drivers highlighted in recent research:
- Strong fundamentals – GM’s annual revenue is cited around $187 billion, with investors rewarding the company’s push into EVs and disciplined capital allocation, including a large completed share‑repurchase program. [7]
- Dividend and upgrades – GM has raised its dividend four years in a row, and Morgan Stanley recently upgraded the stock to Overweight and lifted its price target from $54 to $90, arguing the company is executing well on its updated EV and autonomous strategy. [8]
However, some analysts warn that RSI signals show overbought conditions and that the stock may be trading above some estimates of “fair value,” suggesting that even bullish investors may want to be selective about entry points after the latest run. [9]
Ford (F): solid ICE/hybrid, painful EV slump
Ford did not have a major price shock today, but recent November sales data are still hanging over the stock:
- U.S. unit sales for November were down 0.9%, but the real red flag was a 61% plunge in all‑electric vehicle salesafter key U.S. tax credits expired. [10]
- Internal‑combustion sales rose about 2.2% and hybrid sales climbed roughly 13.6%, underscoring a consumer shift back toward traditional and hybrid models. [11]
GuruFocus noted that Ford shares slipped roughly 1.6% in early trading when those numbers hit, and highlighted modest margins, high leverage and a low Altman Z‑score as risk factors—even as revenue growth over the last three years has been solid. [12]
For investors watching Ford stock after the bell, the key story is less about today’s tick‑by‑tick action and more about a business mix problem: Ford’s EV push is hitting demand headwinds just as its traditional SUV and truck business carries the financial load.
Tesla (TSLA): AI halo vs valuation risk
Even when it isn’t the biggest mover, Tesla remains the gravitational center of EV sentiment.
- Nasdaq data Wednesday showed Tesla changing hands in the mid‑$440s per share, roughly 1% higher on the day, putting the stock well above levels from earlier in the year. [13]
- In a new automotive outlook, Deutsche Bank named Tesla one of its top picks going into 2026, arguing that AI‑driven software, autonomy and energy businesses could justify further upside if the macro environment cooperates. [14]
- Offsetting that optimism, other Wall Street voices flagged valuation risk, with a December 10 analyst note warning that the stock’s run‑up leaves little margin of safety and keeps near‑term downside in play if EV demand disappoints. [15]
Another widely circulated column described Tesla as enjoying an “AI halo” that rivals like Rivian are trying to replicate by emphasizing self‑driving and intelligent software features in their narratives. [16]
Bottom line after the bell: Tesla still trades like a cross‑between an auto company and an AI platform. Bulls are leaning into software and robotics optionality; bears point to EV‑demand worries, policy risks and the sheer size of Tesla’s existing market cap.
Rivian (RIVN) and Lucid (LCID): two very different EV stories
Rivian: big bounce off the lows, but cautious 12‑month forecast
A detailed 24/7 Wall St. analysis published Wednesday zeroed in on Rivian’s wild ride this year: [17]
- The stock is about 22.6% higher than a year ago and roughly 70.9% above its year‑to‑date low in April, thanks to improving gross margins and major strategic deals.
- Rivian has now posted three consecutive quarters of positive gross profit and reported Q3 revenue of about $1.6 billion, slightly up year‑on‑year with a narrower‑than‑expected loss. [18]
- The company reaffirmed 2025 delivery guidance of 41,500–43,500 vehicles, but its 2025 revenue outlook (around $4.7–$4.9 billion) is actually lower than last year, reflecting weaker demand after EV tax credits expired and tariff‑driven cost pressures. [19]
- A $5.8 billion joint venture with Volkswagen, including an initial $1 billion already funded in 2025, plus planned production of the R2 midsize SUV in Illinois in 2026, are key planks of the long‑term growth story. [20]
Despite the rally, Wall Street’s stance is lukewarm:
- Consensus rating: Hold, with an average price target around $15.04, actually below the current price.
- 24/7 Wall St.’s own year‑end 2026 target is a bearish $14.57, implying about 18% downside over the next 12 months from current levels. [21]
Into the close, Rivian trades like a speculative EV recovery play: improved execution and strong partners on one side, tariffs and demand softness on the other.
Lucid: CEO talks openly about an ‘EV slowdown’
If Rivian is trying to sell resilience, Lucid’s latest messaging is brutally frank about the near‑term environment.
In a widely shared Stocktwits/Bloomberg interview recap, Lucid’s interim CEO Marc Winterhoff said there is “definitely” a slowdown in EV demand in both the U.S. and Europe, blaming the expiration of U.S. federal EV tax incentives, which pulled purchases forward into earlier quarters and left fewer active buyers now. [22]
Key numbers from that coverage:
- 4,078 vehicles delivered in Q3, up 23% quarter‑on‑quarter, but production grew just 0.7% to 3,891 units. [23]
- Q3 revenue of $336.6 million missed consensus estimates of $349.5 million, and Lucid cut its full‑year production outlook to around 18,000 vehicles citing supply‑chain issues around its Gravity SUV. [24]
- Morgan Stanley downgraded Lucid to Underweight and slashed its price target from $30 to $10, warning that an “EV winter” could extend into 2026 as higher rates, cost pressures and cautious consumers weigh on adoption. [25]
- Despite the gloomy tone, LCID stock is still up over 58% year‑to‑date and more than 47% over 12 months, underlining just how volatile sentiment is in high‑beta EV names. [26]
For traders watching EV stocks after the bell, Lucid is the clearest example of the current regime: negative near‑term demand commentary but a still‑elevated, speculative share price.
Global car and moto stocks: Toyota, Stellantis and Eicher in focus
Toyota: activist pressure meets FX tailwind
In Japan, Toyota Motor’s stock rose about 1.4% on Wednesday as the yen weakened, giving a lift to export‑heavy automakers. At the same time, Elliott Investment Management disclosed a 5.01% stake in Toyota Industries, a key Toyota group company, in a move aimed at influencing shareholder proposals and governance after concerns over acquisition transparency. [27]
That combination—FX tailwind plus activist pressure—keeps Toyota squarely on the radar for global auto investors, even if today’s price move was modest by EV‑stock standards.
Stellantis (STLA): micro‑EV Topolino headed to the U.S.
Over in Europe and North America, Stellantis became a talking point after announcing plans to bring the Fiat Topolino micro‑EV to the U.S. market:
- The tiny EV—technically a “quadricycle”—is a two‑door, two‑seat vehicle under 100 inches long, sharing underpinnings with the Citroën Ami and Opel Rocks Electric. [28]
- In Europe, the Topolino is priced around €9,900 (roughly $11,500) before incentives, has a top speed of about 28 mph and a range near 75 km (under 50 miles) on a charge—clearly aimed at city‑car and campus‑car use cases. [29]
- Stellantis said it plans to sell the Topolino in the U.S. starting next year, after the car gained visibility at events like the LA Auto Show and amid renewed political chatter about ultra‑small “kei‑style” vehicles. [30]
The piece notes that STLA shares were up around 0.86%, and frames the Topolino not as a core profit driver but as a strategic bet on urban, budget‑conscious buyers at a time when mainstream new‑vehicle prices hover near $50,000. [31]
India’s Eicher Motors and broader two‑wheeler sentiment
In India, Eicher Motors—best known to global investors for its Royal Enfield motorcycle brand—was singled out as a top gainer on the Nifty even as the broader market closed in the red, according to the Moneycontrol closing‑bell blog. [32]
That divergence underlines a recurring 2025 theme: motorcycle and premium two‑wheeler makers can sometimes outperform wider auto indices, benefiting from both export potential and domestic demand for lifestyle bikes, even in choppy equity markets.
Policy, batteries and infrastructure: the EV ecosystem around the stocks
Europe’s EV policy fight: 2035 ban under pressure
A Reuters report carried on TradingView described how nearly 200 players in Europe’s EV ecosystem—including automakers like Polestar and Volvo Cars—signed an open letter urging the European Commission to stick to its 2035 zero‑emission target for new cars. [33]
Key points:
- The EU is preparing an “automotive package” for December 16 that could soften CO₂ targets and effectively ease the 2035 combustion‑engine sales ban, a move being pushed by some legacy automakers. [34]
- EV‑focused groups warn that diluting the plan and reopening the door to plug‑in hybrids and synthetic fuels would slow EV adoption and widen the gap with Chinese manufacturers. [35]
For investors in European EV and auto stocks, this policy tug‑of‑war is as important as any single earnings report; it shapes the regulatory runway for electrification—and therefore long‑term margins and volumes.
Batteries and power electronics: Samsung SDI and On Semi
The broader EV supply chain also made headlines:
- A unit of Samsung SDI signed a U.S. battery deal worth over $1.36 billion for energy storage systems, underscoring ongoing demand for large‑scale battery projects from unnamed energy‑infrastructure customers. [36]
- On the semiconductor side, a new Seeking Alpha note on On Semiconductor (ON) flagged a $6 billion share‑buyback—about 26% of its market cap—and argued that auto and industrial segments are stabilizing, with inventory and factory utilization improving. ON is also pushing into AI data‑center power management in partnership with Nvidia, broadening growth drivers beyond EVs alone. [37]
For EV‑stock traders, these developments hint that while EV car demand may be slowing in spots, investment in batteries and power electronics remains robust, especially where those assets can serve both transportation and grid‑storage markets.
Charging and fleet electrification: Highland Electric and Ryde
Two infrastructure‑and‑mobility headlines rounded out the EV ecosystem today:
- Highland Electric Fleets secured up to $150 million in new equity from Aiga Capital Partners to accelerate its electric school‑bus and fleet‑electrification business across more than 30 U.S. states, with major 2026 deployments planned and a role as the official electric school‑bus provider for the LA28 Olympic and Paralympic Games. [38]
- In Asia, Ryde Group Ltd announced a strategic expansion into the EV rental market, with call options to acquire up to 400 electric vehicles over the next six months, via partnerships in Singapore’s mobility ecosystem. [39]
Even as some EV manufacturers talk about an “EV winter,” capital continues to flow into EV infrastructure, fleet electrification and mobility services, indicating that the broader transition is still advancing—just not in a straight line.
What it means for car, moto and EV investors after the bell
Putting today’s moves and headlines together:
- Legacy automakers (GM, Toyota, Stellantis)
- GM is trading at record levels after a year of strong returns and big capital returns, but technicals flag possible overbought conditions. [40]
- Toyota is benefiting from yen weakness and could face increasing shareholder activism pressure via Elliott’s stake in Toyota Industries. [41]
- Stellantis is experimenting with ultra‑small, low‑speed EVs like the Topolino to capture urban, budget‑conscious buyers. [42]
- Pure‑play EV stocks (Tesla, Rivian, Lucid and peers)
- Tesla trades with a premium “AI and autonomy” narrative, but the tug‑of‑war between Deutsche Bank’s bullish stance and valuation‑focused downgrades is keeping volatility elevated. [43]
- Rivian is fundamentally improving but still seen by many as a speculative hold at best, with at least one high‑profile forecast calling for double‑digit downside over the next year despite stronger gross margins and VW support. [44]
- Lucid has publicly acknowledged a demand slowdown and faces both production challenges and a sharply lower analyst price target—yet its stock is still up strongly year‑to‑date, a reminder that sentiment can decouple from earnings for long stretches. [45]
- Motorcycle and regional names (Eicher, others)
- In markets like India, niche players such as Eicher Motors can outperform broader indices even on down days, showing that motorcycle and premium‑2W stories remain attractive where domestic demand is strong. [46]
- Ecosystem plays (batteries, chips, infrastructure)
- Deals at Samsung SDI, On Semi and Highland Electric indicate continuing capital commitments to the EV transition, even as some carmakers pull back near‑term EV targets. [47]
Key things to watch in the coming sessions
- Fed statement and dot plot – Higher‑for‑longer rates would tend to hurt long‑duration growth names like EV pure plays more than cash‑generative legacy automakers. [48]
- EU’s December 16 automotive package – Any dilution of the 2035 zero‑emission target could shift sentiment on European EV and hybrid makers. [49]
- Follow‑through in GM, Toyota and Stellantis – Whether these stocks consolidate, continue breaking out, or mean‑revert will tell us how much of the good news is already priced in.
- Order trends and incentives in the U.S. – Management commentary from companies like Lucid and Ford, plus any new incentive proposals, will be closely watched for signs of an EV demand floor.
Quick risk reminder
This article is for information and news purposes only and does not constitute financial or investment advice. Auto and EV stocks can be highly volatile; always consider your risk tolerance, time horizon and independent research before making trading or investment decisions.
References
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