American demand for cars and trucks is so far undiminished by worries over the looming fiscal cliff, says Ford Motor Company (NYSE:F) head of global sales and marketing Jim Farley, speaking at the Los Angeles Auto Show this week, explaining as well that “The average car is 11 years old. The fleet has never been older.” He went on to say that company executives are monitoring any signs that anxiety about possible higher taxes, or a dip back into recession, is affecting domestic consumers, but instead they see a “buying public focused on other priorities.” Farley then commented that “We are seeing wholesale refreshes of significant segments. That’s unprecedented,” as he said that along with Ford, Toyota Motor Corporation (NYSE:TM), Honda Motor Company (NYSE:HMC), General Motors Company’s (NYSE:GM) Chevrolet division and others have or soon will sport redesigned models in the midsize car segment, with fresh looks and updated tech to models that comprise a significant share of the second-largest industry segment behind sport-utility vehicles.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>
The Boeing Company (NYSE:BA) has been accused by Airbus of making misleading allegations regarding its planes’ performance, and ridiculing its rival with an advertising campaign showing a Boeing jet nose resembling that of Pinocchio, says Bloomberg.