Toyota SABOTAGED by Former Employee and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F) stated that sales of its Focus, which it sells in all of its global markets, reached 489,616 units during the year’s first half, in comparison to 462,187 Toyota (NYSE:TM) Corollas, Bloomberg reported citing IHS data. Ford stated that it expects to keep that market leading sales pace, the report added. The shares traded up $0.06 (0.70%) recently at $9.38.
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General Motors Company’s (NYSE:GM) Detroit-Hamtramck plant is to build a 2013 version of the plug-in extended range Chevrolet Volt, according to the Detroit News. This version will be sold in Australia under the Holden brand. The shares traded up $0.34 (1.61%) recently at $21.45.
Toyota Motor Corporation (NYSE:TM): A former programmer for Toyota was accused of sabotaging applications on the car company’s network as well as stealing data after being fired from his job last week, according to a civil complaint that was filed by the company. Abrahimshah Shahulhameed, which is a 35-year-old citizen of India who is in the U.S. on a work visa, worked for GlobalSource IT, which is a contractor providing computer services for Toyota. The shares traded down $0.50 (0.62%) recently at $79.73.
Honda Motor Co., Ltd. (NYSE:HMC): As part of its measures for addressing margin erosion caused by a strong Yen, Honda is increasing its production capacity in North America to lower its dependence on the Japanese exports. As of now, 85 percent of Honda’s cars sold in North America are manufactured in the region. However, the automaker will stretch the capacity of its plants in the U.S. and Canada as it constructs a new plant in Mexico. With this move, nearly 96 percent of the total cars sold in the region would be made within North America when the plant in Mexico becomes functional in 2015. The shares traded down $0.09 (0.28%) recently at $31.93.
Tesla Motors, Inc. (NASDAQ:TSLA): Elon Musk, who is the founder of electric carmaker Tesla Motors Inc and privately held Space Exploration Technologies, has been weighing whether or not to establish a holding company that would own stock in both companies. Musk, as he was answering questions at automotive website Jalopnik.com on Thursday, stated that capital could not be moved between publicly traded Tesla and SpaceX, but he was interested in the idea of a holding company.The shares traded up $0.02 (0.07%) recently at $28.43.
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