Ford Canada, The China Sales Bump and 3 Auto Stocks in the Spotlight
Ford Motor Co. (NYSE:F): Auto Workers in Canada attempt to revert a few concessions made to automakers during the latest contract negotiation set flies toward Ford Motor Co. of Canada. A senior Ford Canada Official states that there is no need for catch-up and that is what the employees need help understanding. This is true since the company is doing well.
General Motors Company (NYSE:GM), currently in alliance with Peugeot (PEUGY) in Europe, claims there is not a proposal to work together in India, according to the Economic Times.
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Toyota Motor Corporation (NYSE:TM): The WSJ reports that China’s auto sales only slightly increased during 1H, indicating a slowdown in economic growth.
Honda Motor Co., Ltd. (NYSE:HMC): Car sales for Chinese passenger cars increased 16% in June to 1.28M units vs. estimates of 1.27M. According to analysts, the bump may stem from manufacturers that stuff dealerships with a great deal of inventory before summer factory shutdowns. Also, cities such as Guangzhou also exist, who imposed a quota for new vehicle registrations and saw a buying rush ahead of June 30.
Tesla Motors, Inc. (NASDAQ:TSLA): Although the entire stock market is concerned with Europe, auto companies face specific concerns. As a whole, the industry is not doing as well, meaning companies such as Ford (NYSE:F), General Motors (NYSE:GM), and Toyota (NYSE:TM) are currently struggling. Also, Honda Motor (NYSE:HMC) and Toyota have trouble regarding the yen, and Tesla along with others could see slowing growth in U.S. sales of plug-in-electric vehicles.
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