3 Auto Stocks Going Places: GM’s India Issues, Ford Plans for Downtime, Toyota Struggles with New Trial
General Motors Co. (NYSE:GM): General Motors may end up being fined after an Indian government-appointed panel looking into the company’s recall of 114,000 Tavera vehicles alleged that the carmaker flouted testing regulations, Auto News reports. GM India said in a statement that it had identified the violations of company policy and those responsible; it’s facing a fine of $1.6 million or so under the current provisions.
Ford Motor Co. (NYSE:F): Ford will be planning two weeks of facility downtime for its Michigan Assembly Plant, which produces the Focus small car and C-Max hybrid car. The Wayne, Michigan, facility will shut down during the weeks of October 28 and December 16; Ford had 122 days of supply of the C-Max and 71 days of supply of the Focus at the beginning of the month; both are elevated levels from 108 days and 58 days, respectively, from the beginning of September, The Detroit News reports.
Toyota Motor Corp. (NYSE:TM): Though it’s had a full redesign, the new Lexus IS 250 wasn’t such a big hit at Consumer Reports, where the reviewers found the car ”neither sporty nor luxurious,” also noting that it was neither powerful nor fuel efficient. Moreover, the IS’s handling, steering, interior, cabin space and infotainment system were all found to be points of contention; Toyota said that it welcomes a chance to discuss the results with Consumer Reports in greater detail.
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