GM Profits DINGED Due to Declining Euro Auto Market and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F) is dealing with the fallout from the newest chapter of a continued campaign by Consumer Reports magazine to shame the MyFord Touch infotainment system, which is basically the Version 2.0 of Sync with many more features. “Why the MyFord Touch Control System Stinks” is the name of a blog posting on the magazine’s web site going to great lengths to explain why buyers should avoid vehicles equipped with MyFord and MyLincoln Touch, in other words, avoid Fords and Lincolns. The shares traded down $0.03 (0.32%) recently at $9.465.
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General Motors Company (NYSE:GM): In an agreement with the Works Council and IG Metall, Opel has announced short work for its Rsselsheim facilities and Kaiserslautern component plant, beginning on September 2012. This agreement includes 20 short work days for each of the facilities until 2012’s end. The European car market continues to weaken substantially. Until recently, the decreased production schedules could be compensated by applying corridor shifts and accrued overtime, claims Holger Kimmes, Opel Management Board member and vice president, Opel/Vauxhall Personnel. There are 13,800 employees who work in Opel’s Rsselsheim facilities, and there are 3,500 employees in manufacturing, 3300 in central and administrative functions, and 7,000 in engineering. Nearly 50 percent of the Rsselsheim employees have been affected by short work. The shares traded down $0.39 (1.79%) recently at $21.34.
Toyota Motor Corporation (NYSE:TM): The Toyota Camry was the top new model and the Ford F-150 was the top used model chosen by Central Alabama vehicle buyers in July. New data from the Birmingham Auto Dealers Association shows 284 Camry sedans were sold in the area last month, or 5 percent of total new vehicle sales. The shares traded down $0.52 (0.63%) recently at $81.94.
Honda Motor Co., Ltd. (NYSE:HMC) started production of a redesigned version of its Accord midsize sedan that is roomier and more fuel-efficient than the older version, and jammed filled with new technology like an infotainment system bringing Facebook into the car. Honda depends on its Accord to catch Toyota Motor Corp.’s Camry, which is the now the top-selling midsize car, a large and strategically important niche considered important to brand loyalty. But to pass Toyota, Honda must compete with a half-dozen rivals whose improved cars are also combating the Camry. The shares traded down $0.27 (0.81%) recently at $33.09.
A123 Systems, Inc. (NASDAQ:AONE): On August 21, A123 Systems received a letter from The NASDAQ Stock Market LLC, informing the Company that for the past 30 consecutive business days, the bid price of the Company’s common stock has closed lower than the minimum $1.00 per share requirement for continued inclusion on NASDAQ due to Listing Rule 5450(1), and describing a timetable to bring the Company into compliance with the rule. The common stock of the company is still listed on NASDAQ beneath the symbol AONE. The Company has been given 180 calendar days, or until February 19, 2013, to regain compliance, in accordance with Listing Rule 5810(NYSE:C)(3)(NYSE:A). If at any time before, the Company’s common stock has a closing bid price of $1.00 or more for a minimum of 10 consecutive business days, NASDAQ staff is to notify the company that it has regained compliance. A123 Systems plans to actively monitor the bid price for its common stock between now and February 19, 2013, and it will consider available options to repair the deficiency and regain compliance with the NASDAQ minimum bid price requirement. The shares traded down $0.02 (5.27%) recently at $0.3575.
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