Tesla Trades Week UP 11%, Ford’s Fluster and 3 Auto Stocks in Focus

Tesla Motors, Inc. (NASDAQ:TSLA) is a California electric car startup created by Musk, and it is prevalent in the news lately. Luckily for the company, most of it is good. The company’s Model S sedan is stylish, is receiving rave reviews, and is selling well. This is great news for those supporting the ultimate electrification of the automobile. Tesla traded higher over 11% over the past 5 trading days to finish a very strong week.

Ford Motor Co. (NYSE:F) claims that European sales dropped 10 percent during 1H12, and June’s sales fell 16%, according to the Associated Press. According to the company, it decided against matching heavy discounts from competition.

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General Motors Company (NYSE:GM) intends to hire thousands of IT workers throughout the next three to five years, according to the Detroit News. GM thinks that an IT transformation will assist in the improvement of its competitiveness.

Toyota Motor Corporation (NYSE:TM): Senator Charles Grassley (R-Iowa), sent a letter to the National Highway Traffic Safety Administration claiming that key questions still need to be answered regarding the unexpected acceleration of some Toyota vehicles, but both the NHTSA and NASA discovered that it was not due to electronic defects, reports that Detroit News. According to Grassley, the scope of th NHTSA and NASA probes “may have been too narrow.”

A123 Systems, Inc. (NASDAQ:AONE) informed investors on Friday that there only about five months of cash remains, even though the Obama administration granted it $249 million and it had a $378 million IPO in 2009. Although the company has never had issues solving problems, failure would be unsurprising at this point.

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