Toyota Production Halted by Strike and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F): Ford launched a fifteen month advertising campaign today to introduce consumers to the 2013 C-Max, a new 5-passenger crossover available only as a hybrid or plug-in hybrid. The C-Max is an all-new model and a change from Ford’s past practice of adding hybrid versions to existing models.
General Motors Company (NYSE:GM): According to Bloomberg, car sales in India are being hurt by slow growth. The Society of Indian Automobile Manufacturers may cut this year’s sales forecast for a second time following a reduction from about 12% to 9% in July. That is weak growth for a market that doubled in size from 2008 to 2011. With a slowdown of sales in both Europe and China, car makers continue to look for signs of growth beyond the United States market.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>
Toyota Motor Corporation (NYSE:TM): According to Reuters, for the past three days, an illegal strike stopped production at Toyota Motor Corporation’s manufacturing plant in the South African city of Durban. The plant produces 120,000 units annually, with 50% exported, and the rest sold in South Africa and neighboring states.
Honda Motor Co., Ltd. (NYSE:HMC): Honda said they will expand a March headlight recall in the United States to include 820,000 car models. Included are Civic sedans from 2002-2003 and Pilot Sport Utility vehicles from 2004-2005. Honda dealers will inspect and, if necessary, replace components from the headlight wiring system.
Tesla Motors, Inc. (NASDAQ:TSLA): Due to a slower-than-expected roll out of the Model S, Tesla Motors, Inc., whose shares were off by 2%, cut their full year revenue forecast and said they are raising another $150 million through a share offering. The California company also disclosed that they had fully drawn down their $465 million United States Department of Energy loan facility and the loan pact had been amended to delay repayment of a portion of the funds. The company agreed to make additional early payments starting next year and said that they will work with the Department of Energy (DOE) officials to develop an early repayment plan.
Don’t Miss: Retailers Prepare for Jolly Good Holiday Sales.