Another Ford Recall and 4 Auto Stocks to Watch
Ford Motor Co. (NYSE:F) recalls 16,330 Transit Connect vans that were built in the 2011 and 2012 model years, according to the Detroit News, because the wiper arms on the vehicles might not be adequately riveted, which if not repaired, could lead to detachment of the wiper arm. So far, the company has not reported any crashes or injuries due to the problem.
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General Motors Company (NYSE:GM): China’s new yuan-denominated lending total fell to 540 billion yuan in July, down from the 919.8 billion yuan posted in June, said China’s central bank on Friday to China Daily. However, this new figure is still a year-over-year increase over July 2011′s 492.6 billion.
Toyota Motor Corporation (NYSE:TM) is partnering with Japan’s Ministry of Economy, Trade and Industry plus other top Japanese manufacturers, says the Nikkei, to develop tech for the recovery and recycling of rare-earth metals. The arrangement might potentially permit Japan to cut its importation of rare earth imports by a minimum of 10 percent by 2025, as it currently depends on China for around 80 percent of the elements, which are typically used in electric motors found in electric vehicles, and the nickel-metal hydride batteries that used in many hybrids.
Honda Motor Co., Ltd. (NYSE:HMC) of Japan has acquired a 3 percent investment that it did not already own in its Indian car division from a local firm in a transaction valued at 1.8 billion rupees, or $32.5 million, which terminates a partnership of more than 16 years. The deal was confirmed by a Friday statement by Usha International, which is part of India’s diversified Shriram Group, that it ‘divested its entire 3.16 percent stake (18 million shares), in the joint venture to the Japanese partner for 100 rupees apiece including a non-compete fee’.
Tesla Motors, Inc. (NASDAQ:TSLA) Chief Executive Elon Musk says that there’s more to Tesla than just electric cars: Efficiency permeates throughout the company. As production of the 2012 Tesla Model S goes forward, Telsa has just won a $156,900 check as part of an energy efficiency incentive.
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