3 Auto Stocks Going Places: GM Has Its Eye on Tesla, Ford to Double MKZ Hybrid Production, and Toyota Sees More Asian Sales Slowdowns
General Motors Co. (NYSE:GM): GM has established a small panel for the sole purpose of determining what kind of threat is posed to the company by electric vehicle startup Tesla Motors (NASDAQ:TSLA). CEO Dan Akerson is determined to not to let the company eclipse GM down the road, as has happened in the past, and will be evaluating methods for staying ahead — or at least neck-and-neck — in the changing automotive landscape.
Ford Motor Co. (NYSE:F): Ford is positioning its Lincoln luxury marquee to double the production of its hybrid MKZ model, as the car has been exceeding the company’s projected 15 percent take rate for more than two years now. Instead of the hybrid model being 20 percent of production, the new hybrid will make up 40 percent, Autoblog reports. Ford’s hybrid department has been doing quite well, making a surge of 12 percent to a 16 percent share of hybrid and electric vehicles.
Toyota Motor Corp. (NYSE:TM): While it still maintains the crown as one the largest auto manufacturers in the world, Asia has been a bit problematic for the company, between the financial troubles at home and the anti-Japanese sentiment felt throughout China. Now it seems Thailand is going to be adding to the company’s misfortune on the continent, as the company’s sales are expected to slow after the effects from the government’s stimulus measures start to wear off, according to Toyota Motor Thailand. The company saw a drop of 9.5 percent to approximately 1.3 million units in 2013.