Ford Brand Quality Takes a Turn as Auto Stocks BRAKE Hard
Ford Motor Co. (NYSE:F): In the J.D. Power & Associates Initial Quality Survey, the caliber of new autos for Ford and Chrysler Group’s (FIATY) Chrysler brand dropped. GM (NYSE:GM) saw better rankings, as three out of four brands had fewer problematic issues than the average reported by new auto owners.
Toyota Motor Corporation‘s (NYSE:TM) Australia subsidiary announced a $32.6M net loss for the year ending March 31. This fall is attributable mostly to the tsunami of last year and floods in the Asian region. Toyota’s net loss last year was $13.2M, and shares closed down 1.45% ($1.12) Thursday at $76.26.
Tesla Motors, Inc. (NASDAQ:TSLA): Shares of Tesla were up two days prior to its Model S delivery. However, shares closed down $1.59 (4.71%) Thursday at $32.19.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.