3 Auto Stocks Going Places: Ford’s Sales Stay Strong, Danoff Gives Tesla His Blessing, and Honda Makes Impressive July Gains
Ford Motor Co. (NYSE:F): Ford’s sales leapt 11 percent to 193,715 vehicles, with its namesake sales up 11.9 percent during the month, while Lincoln took a 0.8 percent dive. Trucks grew a significant 20 percent, SUVs saw gains of 9.3 percent, while cars grew a healthy 4.4 percent. By model, the Fiesta saw huge gains of 88.9 percent, the Taurus swelled 21.3 percent, and the F-Series was no slouch, with 22.6 percent gained. The company pointed out that sales were strong in the coastal regions, and touted the ability of its small car portfolio to attract new customers.
Tesla Motors (NASDAQ:TSLA): Fidelity Contrafund manager Will Danoff increased his position in Tesla, which he calls ”a firm we believed was fundamentally reengineering the automobile for the first time in decades.” He also lauded Tesla’s ”disruptive technology and superior business model.” Danoff runs the Contrafund for Fidelity Investments, which is worth an estimated $94 billion.
Honda Motor Co. (NYSE:HMC): Honda packed on an impressive 20.9 percent sales gain year-over-year for July, having moved 141,439 units. Acura sales swelled 18 percent for the month, while Honda’s Accord and Civic both topped the 30,000 unit mark. The CR-V also picked up 32.5 percent to 27,226 units. However, the news was too little and too late to salvage Honda’s shares from the post-result decline, and the stock finished down 0.51 percent.
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