3 Auto Stocks Going Places: Honda’s Recall Problem, Tesla Goes AWD-Only for the X, GM’s Big SEMA Show
Honda Motor Co. (NYSE:HMC): Over the weekend, Honda reported that it would be recalling nearly 350,000 units of its Odyssey minivan, due to an issue that could cause the car to brake unexpectedly, without illuminating the rear brake lights. However — supplier constraints, presumably — have put a hold on the repairs until March as the company will not have the necessary parts to make the fixes for the vehicles until then. No accidents or injuries have been reported as a result of the issue, and Honda will be issuing a letter to owners to notify them of the issue, and how best to re-calibrate the afflicted system to minimize the chances of an incident.
Tesla Motors (NASDAQ:TSLA): Tesla’s forthcoming Model X SUV, slated for production and subsequent delivery later this year, will reportedly be only available with Tesla’s new all-wheel drive system, and that the whole unit will cost just “slightly more” than the Model S sedan. “The Model X price will be very similar to the Model S,” said Tesla CEO Elon Musk, in London. “It’s probably going to be a slightly higher starting price because the Model X will only be offered as all-wheel-drive. So it’ll be dual-motor all-wheel drive.”
General Motors (NYSE:GM): GM is set to unveil a slew of tricked out vehicles at this year’s SEMA show, but notably, it pulled the wraps off of the Silverado Cheyenne edition, a street-going version of its light-duty pickup. The Cheyenne will feature GM’s EcoTec3 6.2-liter V8 engine, Brembo brakes, lowered and tweaked suspension, and lots of carbon fiber bits to help the truck shed some 200 pounds off of the stock curb weight.
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