Ford’s Belgium Production Remains Halted and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F): Current Price: $14.05
Ford Motor Co.’s production at its factory located in Genk, Belgium continues to be halted due to protests regarding the company’s plans to shut down the site next year, and the protests has not wavered after three months of disruption. Last week’s agreement between Ford and unions approved by workers did not result in resuming auto assembly due to protests that blocked an adjacent supplier area, cutting off the flow of parts, according to Adrian Schmitz, a spokesman for the company’s European operations in Cologne, Germany.
General Motors Company (NYSE:GM): Current Price: $29.18
General Motors has intentions to close its Grand Blanc North American Tooling Center by the end of June, according to the Detroit News, and it adds that operations will be transferred to other GM facilities in the U.S. at “considerable cost savings.”
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Toyota Motor Corporation (NYSE:TM): Current Price: $95.82
The company settled what was to be the first in a group of hundreds of pending wrongful death and injury lawsuits that involve sudden, unintended acceleration by Toyota vehicles.
Honda Motor Co., Ltd. (NYSE:HMC): Current Price: $38.58
According to Honda, it is recalling 777,000 late-model Pilot and Odyssey vehicles in the United States and Canada because of an issue concerning the deployment of driver’s side airbags.
Tesla Motors, Inc. (NASDAQ:TSLA): Current Price: $34.13
It is possible that franchise laws in New Mexico could prohibit electric car maker Tesla Motors from selling its cars in the state. There have been dealers’ associations that have sued Tesla in New York and Massachusetts because those states, like New Mexico, claim that it is impossible for an auto company to open a store on its own. “Ford can’t open a store here. Chevy can’t open a store here,” stated Charles Henson of the New Mexico Auto Dealers Association.
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