3 Auto Stocks Going Places: General Motors Seeks More Asian Expansion, Tesla Rides the Wave, and Honda Earns Its Stars
General Motors (NYSE:GM): With citizens picking up the cars as fast as it can produce them, GM is looking at another expansion in Indonesia, less than a week after opening a new plant and introduction of a new model. Nearly 10,000 orders have been place for the new Chevrolet Spin, almost twice the number of cars it sold to Indonesians in all of 2012. ”I spent the evening last night with the plant team figuring out how we are going to make more cars–because we are going to need more cars,” Timothy Lee, GM’s president of international operations told The Wall Street Journal. “We have bookings that go through the month of July.”
Tesla Motors (NASDAQ:TSLA): Either quarterly report excitement, or a short squeeze, or both, Tesla shares have been roaring the last couple days, breaching the $80 mark and valuation hitting 80 times its 2014 earnings estimates. Ivanhoff Capital estimates Tesla could become a $100 billion company in 10 years, as it continues to entrench itself with larger auto manufacturers.
Honda Motor Co. (NYSE:HMC): Small size should not be a trade-off for safety, as Honda has shown with the 2013 Civic sedan. Earning top marks from the NHTSA and the Insurance Institute for Highway Safety. The ratings are enough to catapult the Civic to the top of its class for safety, although the Civic Coupe scored slightly less. The tests also included a top score of Good in the stringent new small-overlap frontal collision test.
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