GM’s Chevy Cruze RECALL Headache and 3 More Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F): According to the Associated Press, complaints regarding the failure of power steering on 2011 Ford Explorers is being investigated by the National Highway Traffic Safety Administration. Although there have been no crash or injury report, federal investigators have received 15 complaints regarding the issue. The shares traded down $0.08 (0.78%) recently at $10.19.
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General Motors Company (NYSE:GM) has recalled more than 413K Chevrolet Cruzes as a result of an issue with under-engine shields not fully protecting against flammable liquids trapped in the engine compartment. This recall covers both 2011 and 2012 models. In other news, GM aggressively tries to gain momentum in Russia as it hires 1.5K employees at its St. Petersburg auto plant. Chevrolet is currently the third most popular brand with consumers this year. GM states that the plant will be able to produce 230K vehicles, instead of the 98K it could produce previously
Honda Motor Co., Ltd. (NYSE:HMC) plans to recover anything lost in the U.S. market thanks to its fresh vehicle line-up, the Wall Street Journal reports. The company’s U.S. sales have dropped 7.1% in 2011, but Honda’s deputy chief claims that it intends to “recover in one swift stroke.” The shares traded up $0.52 (1.58%) recently at $33.34.
Tesla Motors, Inc. (NASDAQ:TSLA) and Wells Fargo (NYSE:WFC) have teamed up to provide U.S. Model S reservation holders with competitive retail financing. This raises the amount of ways customers are able to buy the world’s first premium electric sedan, the Model S. Although the relationship is not exclusive, Wells Fargo has been the first financial institution to recover back financing for the Model S “in one swift stroke.” The shares traded up $1.60 (4.95%) recently at $33,78.
Investing Insights: Gold and Silver Hold Steady Going Into Weekend.
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