3 Auto Stocks Going Places: Toyota’s Leadership Under Attack, Teslas For Rent, Fed Plans GM Stock Sale
Toyota Motor Corp. (NYSE:TM): Toyota’s streak of having the number 1 selling car in the U.S. — its Camry sedan – may be snapped next year. Currently, it has a healthy enough lead to maintain the position for this year (with no small help from incentives), though 2014 could be more challenging, Bloomberg reports. “Its margin has narrowed as Ford opened another Fusion assembly line, General Motors reworked the Malibu and Hyundai prepares an all-new Sonata.”
Tesla Motors (NASDAQ:TSLA): Tesla’s Model S sedans will be added to Hertz’s (NYSE:HTZ) high-end rental fleets located at the Los Angeles and San Francisco airports to sit alongside the Ferraris and Lamborghinis that participate in Hertz’s Dream Car rental program. Tesla’s discontinued Roadster sports car will also be available to rent.
General Motors (NYSE:GM): The Treasury Department has announced that a new round of sales of General Motors stock will begin under a regimented trading plan. The federal government has sold over 200 million shares of GM stock already, and is looking to unload the last 101.3 million shares still under its possession. Separately, Chevrolet has unveiled its new line of heavy-duty trucks, which offer a broad range of configurations (more than 150), including three cabs, two cargo bed lengths, numerous trim levels, and the choice of single- or dual-rear wheels on the Silverado 3500.