3 Auto Stocks Going Places: Toyota Eyes 8 Digits, Ford Reveals CNG-Powered F-150, and Honda’s Quarter Falls Somewhat Short
Toyota Motor Corp. (NYSE:TM): Nikkei is reporting that Toyota looks like on pace to sell 10 million vehicles this year, a feat that has so far gone unclaimed by any manufacturer. A more thorough production plan is expected from the company later on Wednesday.
Ford Motor Co. (NYSE:F): Ford is planning to sell a modified variant of its F-150 pickup that runs on natural gas. Though the addition of the compressed natural gas components can be quite costly, the truck is likely aimed at the fleet market, where companies will be able to make up the cost differences at the pump. CNG runs an average of $2.11 per gallon equivalent. The truck can reportedly travel 750 miles on one tank and average about 23 miles per gallon.
Honda Motor Co. (NYSE:HMC): First-quarter net profit fell 7 percent year-over-year, coming in at 122.5 billion yen ($1.2 billion) below the 144.5 billion yen consensus. Revenue grew 16 percent to 2.83 trillion yen against forecasts calling for 2.8 trillion. The company put significant investments into expanding output and further advancing into emerging markets, which were partially offset by strong demand for the Accord sedan and a weaker yen.