Tesla Wins Tech Award and 3 Auto Stocks Making Headlines Now

Toyota Motor Corporation’s (NYSE:TM) own faulty specifications caused Wednesday’s recall of 670,000 older Prius hybrids in the U.S. for possible issues regarding defective steering, according to the company. Nearly 350,000 of these Priuses also were recalled Wednesday because of water pumps that possibly causing the cars to stall. The steering problem “is a design-related issue — insufficient hardness on the specification,” stated Brian Lyons, which is Toyota’s spokesman for safety issues in the U.S.

Honda Motor Co., Ltd. (NYSE:HMC) completely redesigned its current generation Civic only last year, but since new compacts have begun to compete with its traditional dominance, the 2013 Civic now has a new appearance to complement its still-competitive package.

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Tesla Motors, Inc. (NASDAQ:TSLA) continues to be on top as Google (GOOG) stays at the bottom, according to Deloitte’s 2012 Technology Fast 500 report that was released on Thursday. The report is expected to cover all sectors of technology from chip companies to software and life sciences firms, and it bases its rankings on the fiscal year revenue growth of companies from 2007 through 2011.

A123 Systems, Inc. (NASDAQ:AONE): As Tesla’s Model S won the car of the year award this week, American carmakers have begun to prepare to compete with Japanese manufacturers to become the greenest globally. Last Monday, Tesla Motors’ Model S EV (electric vehicle) won Motor Trend magazine’s 2013 Car of the Year award, and it did not win only because it was electric. The judges stated: “It is one of the quickest American four-doors ever built. It drives like a sports car, eager and agile and instantly responsive. But it’s also as smoothly effortless as a Rolls-Royce, can carry almost as much stuff as a Chevy Equinox, and is more efficient than a Toyota Prius. Oh, and it’ll sashay up to the valet at a luxury hotel like a supermodel working a Paris catwalk”.

Don’t Miss: This Tesla Boost is Added Pain for GM and Toyota.