Ford WORKING to Cut Labor Costs and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F): Ford (NYSE:F) is planning to work with the Canadian Auto Workers to cut labor costs there, according to the Detroit News. A senior, Ford of Canada, official mentioned, “Canada has higher labor costs than anywhere else that we do business. It is not sustainable.” Their shares traded up $0.04 (0.43%), they were recently at $9.38.
General Motors Company (NYSE:GM): According to Reuters, GM’s (NYSE:GM) Cadillac has launched a key marketing campaign, targeting BMW’s 3-series and Daimler AG’s (DDAIF) Mercedes-Benz C-Class, with their new ATS sedan. GM hopes that the ATS will be their key to making Cadillac more of a global luxury brand automobile. In the U.S., small luxury cars account for 60% of the luxury market. Their shares traded up $0.47 (2.40%), they were recently at $20.07.
Toyota Motor Corporation (NYSE:TM): Since it has been declared to be the cheapest and smallest full hybrid on the local market, Toyota’s South African Motors (TSAM), has high expectations for the Yaris Hybrid. The car offers the lowest carbon emissions compared to any other automobile in the country. Their shares traded up $0.60 (0.79%), they were recently at $76.48.
Honda Motor Co., Ltd. (NYSE:HMC): Honda Manufacturing, of Indiana, has announced that they are investing $40M which will increase their annual production capacity by 50,000 units, to a total of 250,000 vehicles. The plant plans on hiring approximately 300 new manufacturing associates to help prepare for the increased production beginning early next year. At that time, HMIN will add construction of the Civic Hybrid, Honda’s most popular hybrid model in the United States. After the new second shift at their Indiana plant, Honda’s factory, in Marysville, Ohio, resumed production on Line 1 late last year, causing their seven automobile production plants in North America to operate at or above full, straight-time capacity. This made a grand total of 1.63M vehicles per year. When their Mexican plant starts production of the critically acclaimed Fit sub-compact, in the spring of 2014, Honda’s capacity, in the region, will total 1.92M units. Their shares traded up $0.27 (0.86%), they were recently at $31.65.
Tesla Motors, Inc. (NASDAQ:TSLA): Tesla Motors, Inc. (NASDAQ:TSLA): After it was under attack from Wunderlich, Maxim defended Tesla Motors (TSLA -1.5%), saying that channel checks indicated a rise in Model S reservations, a data point that it considers more important than production delays. This back-and-forth banter could continue for a while as the automaker begins to ease into mainstream markets. Hard numbers are still a ways off. Due to a harsh downgrade from Wunderlich, shares of Tesla Motors (NASDAQ:TSLA) will decline, now lower than 6.6% pre-market. The rationale for the cut, is that Street estimates for the company’s production of 1,000 vehicles for the third quarter and 5 thousand for the year, may actually be lower, as issues crop up. The shares traded down $1.20 (3.60%),they were recently at $32.15.
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