GM RACES to Beat Goal and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F) is developing a less expensive small car for the Chinese market but has intentions to begin a separate, cheaper brand in China as rivals General Motors and Volkswagen have. Ford executives discussed plans during a three-day tour which ended on Wednesday at the groundbreaking of a new assembly plant in the eastern city of Hangzhou. The $760 million plant, Ford’s first plant on the populous east coast of China, will open in 2015. The shares traded down $0.03 (0.38%) recently at $9.28.
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General Motors Company (NYSE:GM) predicts that it will sell over 2,500 Volt cars in August which makes it the highest monthly rate for the battery-powered vehicle since its first introduction nearly two years ago. More dealers offering the Volt in main markets like California, Michigan, Illinois and Florida are assisting in driving sales, a company spokeswoman stated on Wednesday. An exact number has not yet been made available since the August sales count runs through Friday. If the estimate holds, this could be the biggest sales month for Volt since GM began selling the battery-powered car in November 2010. The auto maker sold 2,000 Volts in March. The shares traded down $0.18 (0.85%) recently at $21.12.
Toyota Motor Corporation (NYSE:TM): Obama administration officials highlighted the goal of raising the average fuel efficiency of new cars and light trucks to 54.5 miles on a gallon of gasoline by 2025. For the auto industry, the challenge is not inventing technology or materials that are able to do that. It is convinces consumers to pay the price for these changes, which is a price the Obama administration estimates at $1,800 a vehicle by 2025, according to the Wall Street Journal. The shares traded down $0.73 (0.90%) recently at $80.27.
Honda Motor Co., Ltd. (NYSE:HMC): As part of its measures to address margin erosion that has been caused by a strong Yen, Honda is raising its production capacity in North America to lower its dependence on Japanese exports. The shares traded down $0.53 (1.63%) recently at $32.06.
Tesla Motors, Inc. (NASDAQ:TSLA) CEO Elon Musk will repeat his claim that Tesla Motors will be profitable during 2013, according to a Dow Jones report that was published today. Considering the company’s current burn rate as it increases production of the Tesla Model S and X electric cars this could be a bold claim, but it is one that was made before. The claim rests on the assumption that manufacturing, orders and purchases of Tesla’s high end electric cars will continue as expected. The shares traded down $0.53 (1.63%) recently at $32.06.
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