Important information - the value of investments and the income from them, can go down as well as up, so you may get back less than you invest.

look at the most actively traded UK and US stocks by customers on the Fidelity Personal Investing website in June, as usual throws up some very familiar names, as well as one that makes its first appearance in the top five for some time.

Most actively traded shares June 2023

  1. Lloyds Banking Group
  2. Legal & General
  3. Tesla
  4. Vodafone Group
  5. Rolls-Royce

Source: Fidelity Brokerage, 1-30 June 2023

Tesla shares have more than doubled in the first half of this year, so perhaps it’s no surprise they appear in the most-traded stocks in June. The electric vehicle pioneer continues to break into uncharted territory; most recently delivering a record number of vehicles in the second quarter.

Since controversially slashing the price of a number of its models, it has seen sales rise - by 10.4% between April and June, compared to the previous quarter and 83.5% higher than a year ago. It delivered 466,000 vehicles between April and June out of the almost 480,000 that came off the production line over that same period. By far the most popular models were the reduced-price mass-market Model 3 and the Model Y SUV.

While critics may say that the 113% rally in the share price so far this year is extraordinary, fans of the stock could argue that its price is justified, having broken its ambitious target of increasing sales volumes by an average of 50% a year.  

Data from the US shows that electric vehicle sales are rising. They made up 8.6% of US new vehicle sales in the first quarter of 2023, compared with 5.9% for the same period a year earlier, according to the trade group Alliance for Automotive Innovation. More than 305,000 EVs were sold in the country between January and March. But uptake in the UK is proving slower.

Tesla isn’t alone either in breaking new ground in the industry. BYD, Tesla’s main rival in China, has also reported a near-doubling of its sales volumes in the first half of 2023. It sold 1.26m vehicles in the six months to the end of June.

However, for the likes of Tesla, the US market is key. News that General Motors, Ford, Volvo and Amazon-backed Rivian have all signed deals to adopt the battery charging standard developed by Tesla, opens up a new line of revenue for the company - selling access to its large network of chargers. The first deliveries of Tesla’s Cybertruck are also due to begin this quarter.

Tesla’s second quarter results are due out on 19 July.

Important information - investors should note that the views expressed may no longer be current and may have already been acted upon. Reference to specific securities should not be construed as a recommendation to buy or sell these securities and is included for the purposes of illustration only. Overseas investments will be affected by movements in currency exchange rates. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice.

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