GM Issues Recall and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F): According to the Congressional Budget Office, the Federal Government’s tax credit for electric vehicles may not achieve its goals since electric vehicles, over their life spans, are still likely to be more expensive than conventional automobiles. Moreover, these tax credits in the short-term will have little or no impact on Americans’ gasoline consumption or the effect of greenhouse gas on the environment.
Don’t Miss: General Motors Strikes This Big Deal.
General Motors Company (NYSE:GM): According to the National Highway Traffic Safety Administration, General Motors is recalling about 426,000 of their midsize sedans because their automatic transmissions may appear to be in park when they are not, allowing the vehicles to roll. The action affects the 2007-10 Saturn Aura as well as the 2008-10 Chevrolet Malibu and Pontiac G6 that are equipped with 4-speed automatic transmissions. The models were identified in a report from G.M. that was posted to the web site of the safety agency.
Toyota Motor Corporation (NYSE:TM): According to the Nikkei, Japanese automaker Toyota Motor Corporation is expected to double their production of hybrid vehicles to 1.2 million this year. They are hoping to tap into the demand for the vehicle in Asian markets. Toyota plans to launch a hybrid version of their flagship Corolla Sedan in Japan as early as autumn next year, the Business daily Reported, adding that the technology will also be used in their Lexus brand.
Honda Motor Co., Ltd. (NYSE:HMC): Reuters Reported that Chief Executive Officer Takanobu Ito of Honda Motor Co. Ltd. (NYSE:HMC) anticipates doubling their car sales to at least 6 million vehicles sales worldwide in four years.
Tesla Motors, Inc. (NASDAQ:TSLA): This fall, Tesla Motors will be opening ten new locations across North America. The first store will unlock their doors at Roosevelt Field Mall in Garden City, NY on Sept. 21. Tesla’s unique retail concept will demonstrate the benefits of driving electric by using enticing visuals such as interactive displays and design studios that will allow customers to construct their own Tesla Model S on a large touchscreen. They will then be able to view their creation on an 85-inch video wall. Tesla will continue to expand their retail network into 2013, supporting the mission to engage and inform people about the company as well as the benefits of driving an electric automobile. After these openings, Tesla will have twenty-four locations in North America and thirty-four worldwide.
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