GM Issues Crossover Recall and 4 Auto Stocks Making Headlines Now

Ford Motor Co. (NYSE:F):  According to Automotive News, General Motors Co. and Ford Motor Co are jointly developing nine and ten speed automatic transmissions to improve the fuel economy of their models. GM, the largest U.S. automaker, will lead the design of a nine-speed gearbox for front-wheel drive vehicles while  No. 2 U.S. automaker Ford will head the effort to develop the ten-speed transmission for rear-wheel drive vehicles such as pick-ups, SUVs and performance cars.

General Motors Company (NYSE:GM):  General Motors Company recently informed the National Highway Traffic Safety Administration that they would recall almost 41,000 cars and crossovers to correct a fuel leak but only in a handful of hot-weather states. The recall covers the 2007-9 Chevrolet Cobalt and its sibling, the Pontiac G5, the 2007 Saturn Ion, and the 2007 Chevrolet Equinox and its sibling, the Pontiac Torrent.

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

Toyota Motor Corporation (NYSE:TM):  Toyota Motor Sales & Marketing (TMSM) is exhibiting PES (Peace Eco Smile) produced in collaboration with Studio4C, at the “Kichijoji Anime Wonderland,” on September 29-October 8, 2012, in Kichijoji, Tokyo. PES is an original animation series set in Kichijoji. TMSM aims to attract visitors to PES’s complex world of reality and virtual reality in PES’s hometown.

Honda Motor Co., Ltd. (NYSE:HMC):   Honda Motor Co., Ltd. is recalling 600,000 Accord mid-size cars in the United States and Canada to fix a faulty power steering hose that can leak fluid and cause a fire. The recall affects Accords with V-6 engines from the 2003 through 2007 model years. Honda has a report of one fire but no injuries or crashes.

Tesla Motors, Inc. (NASDAQ:TSLA): Many auto executives were not very enthusiastic about battery-powered cars and now that sales of electric vehicles made by Tesla and Renault have been disappointing, some carmakers are playing down the technology.

Don’t Miss: Here’s Why Oil Stocks Are Up on October 1.