3 Auto Stocks Going Places: Ford Slows European Production, GM Studies Tesla, Toyota JV Keeps Running
Ford Motor Co. (NYSE:F): Ford will be halting its production in Romania by 13 days in October as soft European demand forces the company to make the needed production adjustments. Ford already took a one week break at the facility this month. It produces the B-Max model at the Romanian site and pushes about 370 cars through per day. Around 2,500 workers will receive 80 percent pay during stoppage.
General Motors (NYSE:GM): In the wake of its announcement that it is developing a 200-mile range electric vehicle, GM is reportedly looking to the current EV industry champ — Tesla (NASDAQ:TSLA) — for inspiration and insights into the company’s battery packs. Doug Parks, GM’s vice president of global product programs, said that GM still believes that the Volt powertrain is an ingenious solution, USA Today reports. But he acknowledged that the automaker is working on a long-range, more affordable electric vehicle.
Toyota Motor Corp. (NYSE:TM): Though it’s been shedding other partnerships, PSA Peugeot-Citroen will be keeping its alliance with Toyota intact. The Citroen C1 — of which the next generation is expected early next year — and the Peugeot 107 are both built on the same assembly line as Toyota’s Aygo sub-compact in Kolin, Czech Republic. To date, the joint venture has produced some 2 million vehicles.