Toyota REDUCES Output and 2 Auto Stocks Drive Headlines Tuesday
Toyota Motor Corporation (NYSE:TM): The Nikkei is reporting that Toyota, which was planned to lower its comprehensive domestic output capacity to around 3.6M vehicles in 2012, is going to reduce that figure further to around 3.1M units by as early as 2014. Shares of Toyota closed up $0.04 (o.05%) Tuesday at $76.89.
Investing Insights: Gold and Silver Await Fed’s FOMC Meeting.
Honda Motor Co., Ltd. (NYSE:HMC) wants to more than double India’s stake in its global two-wheeler sales as the vehicle manufacturer adds small engined motorcycles and adds outlets to up its reach in villages and towns, Bloomberg reports. Honda finished a partnership with Hero Group in 2010 and sold 1.99M cycles locally in the year ending March 31, beating TVS Motor Co. to be India’s third-biggest retailer of motorcycles, according to the Society of Indian Automobile Manufacturers. Shares of Honda closed up $0.47 (1.45%) Tuesday at $32.81.
Tesla Motors, Inc. (NASDAQ:TSLA): Some Kroger (NYSE:KR) and Cracker Barrel (NASDAQ:CBRL) outlets will soon feature electric vehicle charging stations thanks to the government’s national EV initiative. Low-driving range in electric cars has been a major hindrance for the industry, keeping it from reaching mass appeal, but Tesla Motors desires a turning of the tables thanks to the launch of its Model S this week. Shares of Tesla closed up $0.25 (0.79%) Tuesday at $32.09.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.