3 Auto Stocks Going Places: Ford Warns of the Yen, GM Picks Up Super Bowl Ad Space, and Tesla Eyes Production Abroad
Ford Motor Co. (NYSE:F): Joe Hinrichs, one of Ford’s top executives in North America, points out that U.S. workers will miss out to Japanese counterparts if capacity needs to be increased globally to meet demand. Ford has been getting increasingly vocal about the yen, which continues to slide, giving Japanese manufacturers a strong advantage. The yen is about 12 percent down on the dollar so far this year.
General Motors (NYSE:GM): Following its one-year hiatus, GM will be resuming its Super Bowl advertising campaign with its Chevrolet brand, as the game falls in the middle of several new model introductions, The Associated Press is reporting. Nielsen said an estimated 108.4 million people watched the Baltimore Ravens’s 34-31 victory over the San Francisco 49ers earlier this year, making it the third most-watched program in U.S. television history.
Tesla Motors (NASDAQ:TSLA): Although it still has ample room to expand in its current facility in Fremont, California, Tesla is eying the possibility of moving some of its production offshore as the company gears up for the launches of two new vehicles in the next couple of years. Tesla is already operating a facility in The Netherlands, where it will be completing Model S vehicles using parts shipped from California.