GM Plans Electric Cadillac and 4 Auto Stocks Drive Forward
Ford Motor Co. (NYSE:F): Ford Motor Co. plans to recall 262,000 units of 2011-2013 model year Fiesta subcompacts in the United States, Canada, Mexico and South America in order to upgrade their passenger side curtain airbag system. As many as 154,604 Fiestas will be recalled in the U.S., while the rest will be recalled in Canada, Mexico and South America.
General Motors Company (NYSE:GM): General Motors Company said production is set to begin late next year on a luxury version of their Chevrolet Volt hybrid. The automaker said Tuesday that the Cadillac ELR will be assembled at the Detroit-Hamtramck Assembly plant which also produces the Chevrolet Volt, Opel Ampera and Holden Volt.
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Toyota Motor Corporation (NYSE:TM): Although their enthusiasm for battery-electric vehicles (BEVs) has dimmed in recent weeks, Toyota Motor Corp. launched their long-awaited Scion iQ EV city car in the United States in a pared-down test program that will see only ninety of the tiny cars brought to the States. The car features the first commercial use of Toyota’s new high-performance lithium-ion battery that is capable of delivering about 24% more range per kilowatt-hour of capacity than comparable first-generation EV batteries used in vehicles such as the Nissan Leaf.
Honda Motor Co., Ltd. (NYSE:HMC): The automotive industry is highly concentrated, with the top ten global automakers accounting for roughly 80% of worldwide production and nearly 90% of total vehicles sold in the United States. In the first nine months of 2012, General Motors Company led with a 18.1% market share in the U.S., followed by Ford Motor Co. with a 15.5% market share, Toyota Motor Corp. with a 14.4% market share, Chrysler-Fiat with a 11.5% market share, and finally, Honda Motor Co. and Nissan Motor Co. in the last two spots with 9.8% and 7.9% market shares, respectively.
A123 Systems, Inc. (NASDAQ:AONE): According to the Wall Street Journal, GE (NYSE:GE) was one of the losers in the Chapter 11 filing A123 Systems, Inc. GE had made seven investments in A123 before their initial public offering in 2009 that totaled $70 million with GE’s research head, Mark Little, sitting on A123’s board. GE Asset Management Inc. is listed as the company’s second largest holder with a 4.32% stake.
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