3 Auto Stocks Going Places: Ford and GM Race On While Toyota Hits Headwinds
Ford Motor Co. (NYSE:F): It was a huge month for Ford, which moved 212,584 vehicles for an 18 percent gain over April of 2012, and the best April since 2007. The Ford Fusion and Escape models, as well as Lincoln’s MKZ model set sales records, and the F-Series pickups grew over 24 percent, and Escape sales grew a monstrous 52 percent. Check out more on the Ford Escape here: Ford Escape: This SUV Maker Is Reading Your Facebook Posts
General Motors (NYSE:GM): Ford wasn’t the only company with numbers to brag about, in fact, nearly every company beat sales expectations in the month of April, including GM. Sales grew 11 percent over April last month, with 237,646 vehicles moved off the lots. The news is particularly exciting for GM, which as a slew of new vehicles on the way. “Car-buying conditions are strong and will continue to release pent-up demand,” said Kurt McNeil, vice president of U.S. sales operations. “We’re very optimistic because GM’s market share is growing, the economy continues to move forward and important car and truck launches are just getting underway.”
Toyota Motor Corp. (NYSE:TM): The world’s number one automaker, which has been eyeing the 10 million vehicle mark for this year, has reported a slight decline in year-over-year sales for April, by 5 percent — 1.1 percent, once adjusted for a different timeframe. Combined, Toyota and Lexus moved 176,160 units. A 3.1 percent sales increase in Lexus could not offset the declines from Toyota’s line, where a 22 percent increase in RAV4 sales could not overcome the declines from both the Camry (-13.9 percent) and the Prius (-21 percent).
Don’t Miss: Ford Lincoln Roars Back With Record Sales.