GM Sales Decline in Europe and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F): In the territorial conflict between China and Japan, Honda (NYSE:HMC) and Toyota (NYSE:TM) dealerships in the eastern Chinese city of Qingdao saw severe harm done by arsonists in demonstrations, The New York Times reports. Because of this anti-Japanese violence around China, Nissan (NSANY) has has decided to halt its production in the country for two days, the newspaper added, and Mazda Motor will follow suit and halt production at its Nanjing factory, which it jointly operates with Chongqing Changan Automobile and Ford Motor (NYSE:F), for four days. Additionally, a Panasonic (NYSE:PC) plant saw destruction and will continue to be closed through today, as Canon (NYSE:CAJ) has closed three out of four of its Chinese factories today. The shares traded down $0.00 (0.00%) recently at $10.39.
Don’t Miss: And the Hits Keep Coming for Ford.
General Motors Company (NYSE:GM): In August, sales of cars in Europe saw an 8.5 decline, which makes this the 11th consecutive month we have seen losses led by Ford (NYSE:F), GM (NYSE:GM) and Fiat (FIATY), according to Reuters. Ford saw the greatest loss, since its sales fell 29 percent year-on-year. The company continues to consider factory cuts as it begins to reveal new models. The shares traded up $0.49 (2.06%) recently at $24.29.
Toyota Motor Corporation (NYSE:TM) sales continue to increase, mainly for the Tundra and Tacoma pickup models that were constructed in San Antonio. The Tundra’s August sales saw an increase of 68 percent from the same month in 2011, and Tacoma sales saw an increase of 41 percent. The shares traded down $0.04 (0.05%) recently at $81.37.
Honda Motor Co., Ltd. (NYSE:HMC) currently is building the new Accord sedan at a record rate with the intention of enabling dealers to begin sales this week while there is increasing U.S. competition with midsize cars from Toyota Motor Corp. (7203), Nissan Motor Co. and Ford (NYSE:F) Motor Co. At Honda’s plant in Marysville, Ohio, the car’s production was at 6,000 units a week and rising as of Sept. 14, according to Mike Fischer’s, production leader for the car, statement in an interview adding that no new Honda model has been built at a faster pace and with fewer flaws. The shares traded down $0.55 (1.62%) recently at $33.35.
Tesla Motors, Inc. (NASDAQ:TSLA) shares saw a boost of 6 percent on Monday after it was upgraded by Morgan Stanley. The shares traded down $1.29 (3.96%) recently at $31.25.
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