3 Auto Stocks Going Places: Ford’s CEO Uncertainties, GM Fights Back, Toyota’s Sierra Recall
Ford Motor Co. (NYSE:F): Ford shares are trading down ever so slightly as investors digest the news that current Ford CEO Alan Mulally is on the list for Microsoft’s (NASDAQ:MSFT) next chief. Mulally, who has been with Ford since 2006, is widely credited for turning the automaker around and managing its current strong performance.
General Motors Co. (NYSE:GM): General Motors has stopped running its dealer incentive programs in New Hampshire following the passage of a law in the state that requires automakers to fully disclose information about programs to dealers well in advance of their implementation. General Motors contends that the law constricts its ability to quickly adjust to changes in demand and preferences among consumers, noting that dealers that wish to obtain the information can already ask the automaker directly.
Toyota Motor Corp. (NYSE:TM): Toyota declared a recall of nearly 700,000 Sierra minivans. The vehicles have a problem with the shift lever, meaning that they can spontaneously change from park to neutral and then roll down slopes without the owner’s knowledge. It is known that the bug has caused more than 20 accidents, mostly minor incidents, in the United States.