Honda to Recall 573K Accords and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F) reports that its September total utilities saw an 8.7 percent increase. The company also reports that Ford brand September sales continued to be flat, as Lincoln brand sales saw a 3.1 percent decline.
General Motors Company (NYSE:GM): During a presentation at the annual Value Investing Congress event located in New York City, Greenlight Capital CEO David Einhorn recommended long positions in General Motors, since he views it as undervalued due to an overreaction to the slowdown in Europe, and Cigna (NYSE:CI), is believed to be trading at a lower rate to peers that themselves are undervalued.
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Toyota Motor Corporation (NYSE:TM) reported monthly U.S. sales totaling 171,910 vehicles, which is a 41.5 percent increase from last year.
Honda Motor Co., Ltd. (NYSE:HMC) is recalling nearly 573,000 Accords from the 2003-7 model years that have been equipped with V-6 engines due to the possibility of a fire hazard, and this is the fourth recall concerning the problem. On Thursday, the recall plan was submitted to the National Highway Traffic Safety Administration.
Tesla Motors, Inc. (NASDAQ:TSLA): Although it has already gained $226 million in its first public shares offering, back in June of 2010, Tesla is being pushed by the Department of Energy (DOE) to increase how quickly it repays the $465-million credit line that was offered to them earlier in the year. According to Tesla officials, their 6.93 million shares each have a price of $28.25, and they will now offer a 30-day option to the underwriter, as a means to gain 1.04-million more shares. Because of delays in production, Tesla had to remove the optimism from their production schedule for the Model S this year, and it still has not gained a profit.