Honda Reports 36.1% Rise in Profits and 3 Auto Stocks Making Headlines Now
Toyota Motor Corporation (NYSE:TM) is headed for its best U.S. sales in four years, and it will grow throughout 2013 on demand for Prius hybrids and revamped models, which includes a new RAV4 sport-utility vehicle, according to Toyota’s U.S. sales chief. The redesigned Avalon sedan going on sale during December, the Lexus ES sedan, the four-model Prius lineup that was added this year, new RAV4, and Corolla models that are due in 2013 are expected to increase deliveries, Jim Lentz, president of Toyota’s U.S. sales unit, stated in an interview.
Honda Motor Co., Ltd. (NYSE:HMC) saw a 36.1 percent increase in profits reaching 82.23 billion yen ($1.06 billion) or 45.63 yen (59 cents) per share during Q2 of its fiscal 2013 from 60.43 billion yen or 33.53 yen per share during the same time the previous year. However, earning per share during in the quarter fell behind the Zacks Consensus Estimate by 33 cents.
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Tesla Motors, Inc. (NASDAQ:TSLA): Following its slow start regarding its Model S car production, the company appears to be getting back on track for the conclusion of the year. Today, Tesla CEO Elon Musk tweeted that his company completed the production of its 1,000th Model S car.
A123 Systems, Inc. (NASDAQ:AONE) was touted by President Barack Obama as he mentioned the failed business during July 2011 stating, “There’s A123, a clean-energy manufacturer in Michigan that just hired its 1,000th worker as demand has soared for its vehicle components.” The company created only seven jobs according to its last quarterly report and 408 total since obtaining a $249 million grant during December 2009 via Obama’s stimulus program. The company received nearly $129 million from the government prior to going bankrupt this month, reports the Times. A123 will be added to the list of other failed stimulus program businesses along with solar panel manufacturer Solyndra LLC, which causes some concern on Capitol Hill as to if there was enough research prior to awarding to grant.