3 Auto Stocks Going Places: Cadillac Unveils Elmiraj Concept, BMW i8 a ‘Different Animal,’ and Ford Issues Rebates
GM (NYSE:GM): Cadillac recently unveiled its newest concept car, the Elmiraj. Aside from its strikingly curvy features the car boasts a 4.5-liter V8, estimated to produce 500 horsepower and 500 pound-feet of torque. The car seats four people and has 22-inch wheels.
Tesla Motors (NASDAQ:TSLA): Though it’s another luxury car in the EV space, BMW doesn’t consider the Fremont, California-made Model S akin to its new i8 rechargeable sports car. In fact, according to Ludwig Willisch, BMW’s North American CEO, the i8 is “a whole different animal — it competes with different concepts.” That may be so now, but Tesla could face a renewed threat down the road should BMW ever slip the technology found in the i8 into a more conventional frame.
Ford (NYSE:F): Ford has found itself in not the worst of binds, really, offering a rebate of $550 for buyers and $325 to lessees of the Ford C-Max Hybrid. The car was advertised with an estimated gas mileage of 47 miles per gallon across the board, but after numerous complaints, trials, and questions, Ford has revised its estimate down to a slightly more humble 43 mpg, and doled out a nice bit of pocket change to buyers of the fuel-efficient car.