GM Restrictions Lifted and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F) won’t grab the best-selling-car title from Toyota yet. Not only has it obtained another best-selling-truck title, it was also the top-selling brand in the US last year. Year-end sales totals have not come in yet, but Ford has already confirmed that it reached an important milestone when it sold over two million sales in the US during 2012.
General Motors Company (NYSE:GM): It was recently announced that General Motors soon intends to repurchase part of its stock that is currently held by the federal government, and the automaker will then be released from some restrictions that were placed on its business practices because of hte 2009 government subsidy, such as limitations on GM’s use of business airplanes.
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Toyota Motor Corporation (NYSE:TM): With a proposed payout of over $1 billion, one major chapter of a nearly four-year legal battle leaving Toyota Motor Corp. fighting hundreds of lawsuits and dealing with a damaged reputation ended. The settlement has snuffed claims from owners stating that value of their vehicles dropped significantly following recalls regarding sudden and unintended acceleration. However, lawsuits arguing that these issues caused injury or death remain, and the first trial will start in February unless another major deal comes first.
Honda Motor Co., Ltd. (NYSE:HMC) along with additional foreign automakers see the U.S. as a more and more important and affordable production base, according to the Detroit News. Honda predicts that vehicle exports from North America will surpass imports from Japan over the next few years.
A123 Systems, Inc. (NASDAQ:AONE) creditors hope to hire a lobbying firm to stop political forces, particularly opposition from the battery maker’s “jilted stalking horse bidder,” from ruining a $256.6 million sale deal.