Ford FOCUSING on Restructuring Plan and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F): According to the Wall Street Journal, Ford Motor Co. (NYSE:F) is getting ready for changes in their European operations as they move toward the expected naming of Mark Fields as successor to Chief Executive Officer, Alan Mulally. The automaker is working on a restructuring plan for Europe that would include the closing of a factory, and possibly a plant in Genk, Belgium. Their shares traded up $0.07 (0.69%), they were recently at $10.28.
Don’t Miss: Tough Times For Automakers in Europe.
General Motors Company (NYSE:GM): Bloomberg reported that Opel, a division of General Motors Company, is having “intensive talks” with German unions to cut personnel costs. A spokesperson for the company declined to comment about report saying that the manufacturer plans to eliminate 1,000 administrative positions at their Ruesselsheim headquarters. Their shares traded up $0.08 (0.35%), they were recently at $23.21.
Toyota Motor Corporation (NYSE:TM): Before government incentives designed to speed the adoption of alternative fuel cars occurs, Toyota Motor Corporation said the electric version of their RAV4 Sport Utility Vehicle goes on sale the last week of this month, for approximately $50,000. Their shares traded up $0.11 (0.13%), they were recently at $82.18.
Honda Motor Co., Ltd. (NYSE:HMC): Honda Motor Co. (7267) is selling more of their motorcycles and scooters in India, gaining on former partner, Hero MotoCorp Ltd., who is the world’s second largest two wheeler market. Hero is hoping for a high demand of their motorcycles, during the festival season, to help reduce their large inventories. According to Yadvinder Guleria, Vice President of sales at the company’s India unit, Honda, the world’s biggest motorcycle maker, aims to boost sales by 30% to 2.75 million units in the year ending March 31. Their shares traded up $0.28 (0.83%) recently at $33.94.
Tesla Motors, Inc. (NASDAQ:TSLA): California start-up Tesla Motors, Inc., according to one of their high profile investors, claims to be ahead of traditional automakers, in the battle for electric-car supremacy. However, they have only sold 100 cars so far this year and have cut their production target for the new Model S Sports Sedan in half. Their shares traded up $1.01 (3.57%)they were recently at $29.29.
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