3 Auto Stocks Going Places: GM Looks For Production Options, Honda’s Latest Recall, and Toyota May Revive the Supra
General Motors (NYSE:GM): Following the announcement that the company will be migrating the production of its Chevrolet Cruze from the factory in Korea, speculations have pointed to an Opel plant in Poland as the first choice — but apparently that won’t be happening, according to GM. ”There has been no decision made about where the next generation Cruze will be built,” a spokesman for Chevrolet Europe said on Thursday.
Honda Motor Co. (NYSE:HMC): Honda is issuing a recall for 104,500 in 49 countries worldwide to fix problems with the brakes, about 18,000 of which are based in the U.S. The Acura RSX compact cars from 2006 and the Honda S2000 sports car from the 2006 and 2007 model years are effected by the recall, which the company says is attributed to power brake booster parts that weren’t made to specifications. That could cause a decrease in braking power over time and could increase the risk of a crash, though no injuries or accidents have been reported yet.
Toyota Motor Corp. (NYSE:TM): Many have longed for Toyota to create a successor to the immensely popular Supra sports coupe. Takeshi Uchiyamada is in that crowd, and as Toyota’s incoming chairman, his word carries a lot of weight around the company (though he humbly acknowledges that it’s not his call). A new sports car would be designed so as not to overlap with the FT86, which carries a Scion badge stateside.
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