3 Auto Stocks Going Places: Tesla Has ‘Just Begun,’ GM Settles Labor Tensions, and Toyota Remains on Top
Tesla Motors (NASDAQ:TSLA): Tesla has “only just begun,” according to Deutsche Bank, which slapped a $160 price target on shares of the electric vehicle maker, along with an upgrade to Buy. The firm believes that sustained demand for the Model S and Tesla’s pipeline, along with the company’s competitive advantage over other EV sellers, will help it one day achieve more-than-comfortable 20 percent margins in its operations.
General Motors Co. (NYSE:GM): GM’s workers in South Korea have approved an annual wage deal, putting an end to nearly two weeks of partial strikes at factories where GM produces more than 40 percent of its Chevy-branded cars, Reuters reports. The deal includes bonuses of 10 million Korean won, or $9,000, and a promise of no layoffs, union spokesman Choi Jong-hak said.
Toyota Motor Corp. (NYSE:TM): With the numbers in, it appears that Toyota has edged out General Motors for sales during the first half of the year, with 4.91 million vehicles moved to GM’s 4.85 million. Aggressive discounting undoubtably played a role in the company’s strong performance, though GM actually outsold Toyota in the second quarter by a slim margin of about 10,000 vehicles.