3 Auto Stocks Going Places: GM’s Strong Quarter, Kleiner Perkins Missed Out on Tesla, and Ford’s Fiesta is a Hit with Women
General Motors (NYSE:GM): GM is reporting its second quarter results today, showing earnings of $1.2 billion in the second quarter, or $0.84 cents per share, beating the estimate of $0.75 — slightly down from last year, but better than expected owing to one-time expenses. The U.S. and China led the company with strong results, while “further progress” was made in the troubled European region, where losses were narrowed.
Tesla Motors (NASDAQ:TSLA): Some unusual politics might have been the cause of equity firm Kleiner Perkins Caufield & Byers missing out on what would have been a huge round of investment in Tesla. In the early funding rounds, CEO Elon Musk asked firm partner John Doerr to sit on Tesla’s board. When Doerr reportedly refused, the firm put its cash on Fisker Automotive — a move that members of the firm will be kicking themselves for for a long time.
Ford Motor Co. (NYSE:F): Ford’s Fiesta, with its compact packaging, certainly won’t appeal to everyone. However, it seems to be quite a hit with the ladies. A panel of female automotive writers has chosen the Ford Fiesta 1.0-liter EcoBoost as the Women’s World Car of the Year, beating out the Mazda CX-5, Range Rover, and Porsche Boxster S to rank in first. The 18 judges described the Fiesta as being stylish, fuel-efficient, fun to drive, technologically advanced, and having good value for the money — all important factors that helped it beat the competition, Autoblog reports.
Don’t Miss: Chevy Impala Is Making GM’s Good Day Better.