3 Auto Stocks Going Places: MSCI Inducts Tesla, Ford’s European Pressures Remain, and GM Shutters Egyptian Facility
Tesla Motors (NASDAQ:TSLA): MSCI says it will be adding Tesla Motors to the MSCI World Index as of August 30th. Seeking Alpha notes that the stock has put on substantial gains, which factors in some significant future sales growth. The shares have been giving up some of the gains they made following the August 7th quarterly report in which the company surprised analysts and investors with a profit.
Ford Motor Co. (NYSE:F): Ford’s shares are off, as a top executive forecasts intense pricing pressures in Europe will continue with sales volumes still soft. ”From a pricing perspective I’m not seeing any relief at the moment yet,” Ford Europe sales chief Roelant de Waard said in an interview with Reuters. Although the company has made substantial progress in the troubled market, it has come to the detriment of margins, which have been dented by incentives and discounts.
General Motors (NYSE:GM): GM has ceased its production activities and operations at its plant in Egypt due to the escalating conflict in the region. The plant, just outside Cairo, closed up following clashes between security forces and supporters of ousted president Mohamed Mursi that have turned fatal in recent days.
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