3 Auto Stocks Going Places: GM’s Asian Relocation, Tesla Gets a Pickup, Ford’s New Ka
General Motors Co. (NYSE:GM): The U.S. Treasury has disclosed that it sold $1.2 billion worth of General Motors stock in October, about a third of what the government indicated it owned in the company as of September 26. Separately, General Motors has revealed that it will be relocating its international headquarters from Shanghai to Singapore to further help its management strategy. The automaker — which peeled GM China off its international operations this year – will keep corporate offices and employees in China to run the division.
Tesla Motors (NASDAQ:TSLA): Shares are back up more than 3 percent after CEO Elon Musk said that Tesla — maker of luxury electric vehicles — is going to have a go at an electric pickup truck. The truck, which is intended to be built in five years or so, will likely be the same type of vehicle as Ford’s F-Series pickup trucks; while range could pose an issue (as it always does), the electric powertrain offers a tremendous amount of torque, which is a key factor when towing or hauling.
Ford Motor Co. (NYSE:F): Ford will be displaying the new Ka in Brazil during an industry event, and although the car itself is small, it’s meant to have a large global impact for the company. “It is one of the most important product programs we’re working on, and I know the things we’re working on for North America,” said Ford of the Americas President Joe Hinrichs. The Ka is slated to be an affordable family car aimed at millions of buyers in China, India, South America, and other emerging markets.