3 Auto Stocks Going Places: Tesla’s Production Projections, Toyota to Keep Camry Prices Stable, and GM Gives Opel Some Love
Tesla Motors (NASDAQ:TSLA): In an interview with CNBC, Tesla CEO Elon Musk projected that the automaker can reach an annual production of 40,000 units by the end of next year, about double the company’s current rate. Though Tesla has been flaunting the 40,000-unit figure for some time, it appears that the electric vehicle maker is on track to meet its ambitious production goals and perhaps, more importantly, reinforce the company’s colossal market valuation.
Toyota Motor Corp. (NYSE:TM): Even with increasing pressures on the pricing front, Toyota has signaled that it will keep its pricing for the Camry sedan stationary for the time being. Even though the pricing will remain stable, analysts are projecting that the company will still make use of incentives to keep sales above that of its rivals. Toyota offered incentives of $2,581 per Camry sold in July compared to $627 per Honda (NYSE:HMC) Accord.
General Motors (NYSE:GM): General Motors is applying the same approach that it’s given its Cadillac line to Opel, its European brand that has been dealt some substantial losses that threatened to shut the unit down. The company is beginning production of a revamped Insignia, its most expensive model in the lineup, this week. The Insignia is the eighth car in the Opel lineup that has been updated.