Auto sales in the U.S. rose sharply in 2012, and the trend is expected to continue in 2013. This augurs well for automakers such as Ford Motor Co. (NYSE:F), General Motors Co. (NYSE:GM) and Tesla Motors Inc. (NASDAQ:TSLA). Ford and General Motors are also expected to benefit from strong auto sales growth in China and other emerging economies. A rebound in Chinese economy should further boost auto sales in the world's second largest economy. However, Europe remains a worry for automakers. Although the Eurozone economy is stabilizing, there are no tangible signs of growth. Street-Wire.com has added F, GM and TSLA this morning to their Daily Rating Watch List. Rating can mean a number of things for investors and we encourage all shareholders to sign up to speak to a member of our research team today at
Ford's Passenger Car Sales in China More than Double
Last week, Ford China reported that its passenger car sales in China more than doubled in the month of January. The company, in fact, had its best-ever January. Ford China said that it sold 44,439 passenger cars in January, representing an increase of 135% over the same period in the previous year. While China remains a key growth driver for Ford, Europe, on the other hand, is a major concern for the company. Last month, the company stated that it expects full year 2013 results for Ford Europe to be a loss of about $2 billion. F has come under our radar and we have issued a new rating for this equity. Sign up for free below to find out more.
On Monday, Ford Motor shares ended marginally higher. The stock closed at 0.08% higher at $13.11. Ford shares had fallen sharply close to the end of last month after the company gave a weak outlook for Europe. However, the stock has since stabilized in the last few trading sessions after finding support at around $13.
General Motors Posts Record January Sales Results in China
Ford's rival General Motors last week reported that its January vehicle sales in China exceeded 300,000 units for the first time. The company's January sales totaled 310,765 units, representing an increase of 26% over the same period in the previous year. Meanwhile, GM's sales in the U.S. rose 16% in January. The company, earlier this month, reported that it sold 194,699 vehicles in the U.S. in January. Retail sales rose 24% in the month of January, while fleet sales were down 2%. GM has met 8 out of 10 characteristics we look for when rating an equity. Register now for free below to find out more.
GM shares ended marginally lower on Monday. The stock closed 0.14% lower at $28.53, with volume at around half of the daily average. GM shares have been struggling to break through the $29 resistance level in the last few days. A bullish trend will be established if the stock breaks through this level.
Tesla Shares Decline
On Monday, Tesla Motor shares fell after the New York Times gave a negative review of the company's electric sports car. Tesla founder and CEO Elon Musk, however, condemned the negative review, describing it as "fake." TSLA has met 8 out of 10 characteristics we look for when rating an equity. Sign up for free below to find out more.
Tesla shares ended 2.09% lower at $38.42 on Monday. The stock currently has strong support at around $38. Prior to the decline on Monday, TSLA shares had an excellent run over the last three weeks.
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Anthony K. Merchant