There’s huge demand for cars in both the US and China – the world’s two largest auto markets – according to fund manager Steven Glass, who has appointed a moneymaker. In the US alone, the shortfall is five million vehicles, Glass, managing director and analyst at Pella Funds Management, told CNBC’s Street Signs Asia on Monday. “That’s increased demand for new vehicles in the US, which we think we’ll start to see next year as supply chains open up.” Meanwhile, China is also starting to see growth in the auto market once again, after years of decline, according to Glass. “China is just starting to see growth in its auto market. That market declined from 2018 to 2021, but now we’ve started to see growth return to again,” he added. How to play it His top choice for playing the field is the German car manufacturer BMW. Glass believes the company will likely experience cyclical growth next year. It also has a “very well managed” balance sheet and is trading at a price-to-earnings ratio of just 5.5 – a 20-year low. Taken together, this makes the stock look “very, very attractive,” he said, adding that BMW has long made clear its intention to challenge Tesla’s lead in electric vehicles. The Bavarian carmaker aims to have two million EVs on the road by 2025 and estimates half of its vehicle sales will include EVs by 2030. Earlier this month, the company announced plans plans to invest $1.7 billion in U.S. operations to build electric vehicles and batteries. In this investment, $1 billion has been set aside to prepare BMW’s existing US manufacturing facility in South Carolina for electric vehicle production. The German automaker expects to produce at least six all-electric models in the US by 2030. “In the future, [the facility] BMW President Oliver Zipse said last month that it will also be a key driver of our electrification strategy and that we will produce at least six all-electric BMW X models here by 2030. BMW President Oliver Zipse said last month – a voltage-cell assembly center The company has announced four more battery factories will be built in Europe and China to meet demand for next-generation batteries. shares of BMW are down 12.9% this year, outperforming Tesla, which has lost more than 40% of its market capitalization so far this year. was 20.6%, according to estimates by analysts tracked by FactSet.