3 Auto Stocks Going Places: Toyota Has High Hopes for the Camry, Ford Focus Dominates China, and GM’s Government Stake Becomes Smaller
Toyota Motor Corp. (NYSE:TM): At its presentation at the JPMorgan Auto conference, Toyota expressed its plans to keep the Camry as the top-selling car in the U.S., and believes that sales could reach 400,000 for the year. As far as the long term is concerned, replacement demand will help sustain sales in the automobile industry for years, according to the company.
Ford Motor Co. (NYSE:F): Ford doubled its sales of the Focus compact in China to keep it on top of the auto world, making that car the best-selling automobile worldwide in the first quarter. Sales rose 153 percent in China — a total of 104,065 cars sold — which in turn saw China dubbed the No. 1 market for the Focus.
General Motors Co. (NYSE:GM): GM’s shares owned by the U.S. are finally fewer in number, as the federal government sold between 135 million and 137 million shares of the stock in July. The government sold each share for anywhere between $35 and $37, netting Uncle Sam just shy of $900 million.