Toyota Adjusts Production and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F): The Toyota Camry has continued to rule the market for numerous years and is still popular. Various rivals from Japan, US, and Europe have attempted to take the Camry’s place but with no success. Now, Ford thinks that its 2013 Ford Fusion has the ability to outsell Toyota Camry. The 2013 Ford Fusion is extremely fuel efficient providing a combined fuel economy rating of 47 mpg, better than Toyota Camry’s.
General Motors Company (NYSE:GM) claims that 2 million of its cars were sold during the year in China, according to the Detroit News. The 2-millionth sale was on September 21, and the car maker reached 2 million in sales on October 17 last year and November 4 in 2010.
Toyota Motor Corporation (NYSE:TM): Tuesday, the company stated that it intends to adjust production at plants in China and at a Lexus factory in Japan as a means to match the slowdown in Chinese orders and sales, which could indicate more prolonged issues in economic relations between China and Japan. Chinese anger regarding Japan’s decision to purchase disputed East China Sea islands it administers earlier in the month is now affecting the economy, factories in China were destroyed a few weeks ago, and now China is refusing to use Japanese brands.
Honda Motor Co., Ltd. (NYSE:HMC): As it continues to be “a company that society wants to exist,”American Honda Motor Co, Inc. announced its Corporate Social Responsibility (NYSE:CSR) Statement for North America, and it announced that it will launch a complementary Corporate Social Responsibility website. The Corporate Social Responsibility website is intended to showcase Honda’s efforts and dedication via the company’s four main pillars (environment, diversity, community, and education), and there will be a section which is to explain “what we believe.” Each pillar is to feature Honda associates and community partners sharing programs and initiatives that they are passionate about. By using blog posts, photos, and video the company wishes to highlight community partners’ stories and share the work they are doing. The company states; “We welcome the online community to join in the conversation by commenting, sharing, participating in site surveys and creating content.”
Tesla Motors, Inc. (NASDAQ:TSLA): Tesla has stated, “Based upon our current financial forecast, we currently anticipate that if we do not raise the proceeds anticipated from this offering and do not otherwise adjust our operations accordingly or amend the DOE Loan Facility, we may not be compliant with the current ratio covenant for the quarterly period ending March 31, 2013. For the quarters ending September 30, 2013 and December 31, 2013, we currently anticipate that without taking advantage of additional revenue opportunities or making adjustments to our spending, we expect that we will need to seek an amendment from the DOE to modify the fixed charge coverage ratio covenant. Moreover, we currently anticipate that without raising capital in addition to this offering, we would need to seek an amendment from the DOE to modify the total liabilities to stockholder equity covenant for the quarter ending March 31, 2014 and the two subsequent quarters. We are currently working cooperatively with the DOE to obtain these amendments.”
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