3 Auto Stocks Going Places: GM’s Silverado Shines, Tesla Faces Competition, Ford’s EcoBoost Rolls On
General Motors Co. (NYSE:GM): Chevrolet’s Silverado light-duty pickup has bested the Ram 1500 and Ford’s (NYSE:F) F-150 (among others) to land as the top-ranked pickup, per Consumer Reports. However, though the competition was fierce (“You can’t go wrong with either one,” Consumer Reports said), Seeking Alpha notes that the results could be indicative of Chevrolet’s new model, which is its first redesign for the truck since 2006.
Tesla Motors (NASDAQ:TSLA): News that GM plans to launch an electric vehicle with a 200 mile range for around $30,000 has hardly cast a shadow over Tesla shares; the rumored EV is reportedly still in the earliest of developmental stages. Morgan Stanley’s take is that the Tesla story has years to play out: “We find the inclination of many rational investors is to do nothing. We sort of agree.”
Ford Motor Co. (NYSE:F): Ford rolled out its 2 millionth EcoBoost engine, which was found under the hood of an Escape built at a plant in Kentucky. Ford now produces 100,000 vehicles with EcoBoost engines each month, and demand for the engines has surpassed 90 percent for North American Escapes and Asian Kugas. Demand lags behind in Europe, where a preference for diesel-fueled vehicles has kept the percentage of EcoBoost vehicles below 50 percent.