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On Tuesday, after Ford (NYSE:F) reported higher than expected Q4 revenue but lower than expected Q4 adjusted EPS, RBC Capital was more upbeat about he company’s performance in North America. The firm reiterated an Outperform rating on the stock.
In competitor news, the South Korean firm Hyundai Mobis signed deals valued at $1.07B to supply auto parts to General Motors (NYSE:GM) and Chrysler Group (FIATY), reported Reuters.
On Wednesday, Ford Motor Company (NYSE:F) U.S. sales in January totaled 136,710 vehicles, a 7% gain compared with January 2011; retail sales increased 8%. The Focus contributed to 30% of Ford Motor Company sales growth in January. The Ford brand totaled 131,589 vehicles in January.
Meanwhile on Thursday, competitor General Motors’ (NYSE:GM) Australian unit will cut about 100 temporary and casual jobs at its car manufacturing plant, the Wall Street Journal reported.
Friday, Ford (NYSE:F) said it is looking to increase exports of new vehicles to South Korea this year by 50% in the wake of a free trade deal, the Detroit News reports.
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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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