Toyota Hints at Formula One Interest and 4 Auto Stocks Make Headlines Now
Ford Motor Co. (NYSE:F): According to Bloomberg, Michigan is the center of auto makers and the United Auto Workers and it may soon ban mandatory union dues payments if Republicans, who run the Legislature, pass such a law. If so, this would make it the country’s 24th right-to-work state.
General Motors Company (NYSE:GM): According to Bloomberg, General Motors Company has more than doubled their supply of trucks and may have to reduce production or increase discounts which would affect next year’s profits. At stake is the debut of new versions of the Chevrolet Silverado and GMC Sierra, keys to the company’s success in 2013.
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Toyota Motor Corporation (NYSE:TM) stopped participating in Formula One in 2009 and said it won’t come back, claiming that the sports car is “too elitist” and out of touch with Toyota’s customers. Now, the company is saying that this is not necessarily a closed deal. Asked by The Nikkei whether Toyota might come back to the sport, Toyota Managing Officer Kiyotaka Ise was much less disdainful than in the past, saying ”First, we’ll need to raise the profile of our hybrid vehicles through the WEC races and accumulate more technological expertise. Next year, we want to win the WEC’s Le Mans 24-hour race in France. We’re preparing for that now.”
Honda Motor Co., Ltd. (NYSE:HMC): Yesterday, a group of Honda employees carried flags for seventeen countries and this marked the start of the manufacturer’s world conference. For the next few days, about 500 participants from around the world will gather in Columbus and Marysville to discuss their work and view the sights around central Ohio. “I don’t think there’s another company where you have these kinds of events,” said Ann Leys, 47, an employee at the Honda parts-distribution center in Belgium, while attending the event at the Hyatt Regency Columbus.
Tesla Motors, Inc. (NASDAQ:TSLA): Right on time for Christmas, the leader of the electric vehicle movement has perhaps what is the best news for EV owners and advocates all over the world. Elon Musk tweeted that Tesla Motors, Inc. has had their first positive cash flow week.
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