Ford Motor Company (NYSE:F) and JMC’s interest in China’s heavy duty truck market can be easily understood. China is the largest market for heavy trucks in the world, with almost one-million units sold last year, which is more than in North America, Europe and South America combined. While heavy-duty truck sales are slowing due to surging freight rates and China’s slowing economy, Ford, in a press release on the acquisition, stated that it is optimistic about the segment, because of China’s long-term economic growth potential along with strong investments in infrastructure by the government. The shares traded down $0.04 (0.42%) recently at $9.59.
General Motors Company (NYSE:GM) and Isuzu are recalling more than 258,000 SUVs, including the Chverolet TrailBlazer, CMG Envoy, and Buick Rainier from the 2006 and 2007 model years. This recall is in the U.S. and Canada to fix short-circuits in power-window and door-lock switches which may cause fires, according to the Associated Press. GM has reports of 28 fires. The shares traded down $0.16 (0.73%) recently at $21.85.
Honda Motor Co., Ltd.’s (NYSE:HMC) 1994 Accord was the most frequently stolen car in the U.S. during 2011 for the fourth straight year while the vehicle’s popularity and lack of security features made it thief’s delight. Just last year, 7,596 Accords from the 1994 model year were stolen, according the National Insurance Crime Bureau. The 1998 Honda Civic was the second most-stolen car, the trade group added in a statement today. It was the seventh year in a row that the top two spots were filled by cars from the Tokyo-based manufacturer. The shares traded down $0.08 (0.24%) recently at $33.24.
Tesla Motors, Inc. (NASDAQ:TSLA): Manufacturers like Philips Electronics (NYSE:PHG) and Tesla are using more robots instead of humans to make their products, reports The New York Times. The shares traded down $0.88 (2.92%) recently at $29.14.
A123 Systems, Inc. (NASDAQ:AONE): As The Times reported on Thursday, the financially struggling electric-vehicle battery maker A123 Systems reached a final agreement with the Wanxiang Group Corporation, who supplies automotive parts and systems based in China, for an investment of as much as $465 million. If fully realized and all options exercised, the deal will provide the Chinese company wih an ownership stake in A123 Systems totaling 80 percent. The prospect of Chinese control of an American battery maker that saw great benefits from taxpayer dollars set off a blowback in Congress. But Dan Borgasano, who is a spokesman for A123, stated that no more than four of nine board seats would be allotted to Wanxiang, if the company is to gain a controlling share in A123. The shares traded down $0.025 (5.63%) recently at $0.421.
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