Toyota Motors Falls Over 1% to Lead Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F): The automaker is talking about partnering with others and bringing indigenous brands to China. This is a two-part strategy which will also include building up its own brands. Most automakers that wish to manuifacture on the mainland need local joint ventures.
General Motors Company (NYSE:GM): After moving more than 110K vehicles last month alone, Shanghai GM reports that it has set a new record for sales during the period of January to May. Chevrolet models showed the biggest sales growth for GM and China’s SAIC’s joint venture. Jefferies maintains a Hold rating and $25 price targets on shares, explaining that though these steps are a long-term positive, fears about the European economy will convince investors to avoid the stock in the near-term.
Toyota Motor Corporation (NYSE:TM): According to Toyota president Akio Toyoda, some of the concerns facing the company are the yen’s strength, the European debt crisis, and decreasing U.S. auto demand. The three largest Japanese automakers have surrendered much of their Q1 stock gains in light of these issues. The shares traded down $0.83 (1.11%) recently at $73.98.
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