The whole European auto industry is hit harder, and in response automakers are acting slowly. General Motors Company (NYSE:GM) and Chrysler-Fiat are scheduled to release their second-quarter earnings report next week, with investors appearing more focused than ever on how their European operations are performing.
Separately, reports from Edmunds.com and TrueCar.com revealed that the number of new cars sold in the U.S. is projected to grow in July as compared to a year earlier, with Japanese automakers poised to report double-digit percentage sales gains. Both firms predict nearly 1.2 million new cars will be sold in July.
Ford Motor Company (NYSE:F
Ford Motor Co. declared that it is working on a pickup truck with a largely aluminum body, one of the major gambles in its 108-year history.
The fundamental revamp will help meet harder federal fuel-economy targets. Ford is hoping the switch to the lighter metal will cut the weight of its F-150 truck by about 700 pounds. That is a 15% decrease for the F-150, which is the company’s most accepted pickup in the U.S. Such a reduction would facilitate Ford’s trucks to go farther on a gallon of gasoline, and unlock the door to other changes, like use of smaller engines.
[article_detail_ad_1]In last trading session, Ford Motor Company (NYSE:F) is most volume active stock of Auto Manufacturers Industry by trading 51.82 million shares, more than the average volume of 41.76 million. Shares of F dropped -0.11% and closed at $8.96. Stock’s 52 weeks high price was $13.05 and 52 weeks low of $8.83.
General Electric Company (NYSE:GE)
Shares of General Electric Company surged after it declared that GE will offer Comexhidro eight 2.75-megawatt (MW) wind turbines that will produce energy for public lighting that will help to decrease greenhouse gas discharges.
Also, GE Intelligent Platforms (NYSE: GE) declared the newest addition to the company’s increasing variety of COM Express modules with the commencement of its maximum performance offering to date, the rugged bCOM6-L1400.
General Electric Company (NYSE:GE) gained +2.80% and closed at $20.56 with the total traded volume of 57.28 million shares, beating the average volume of 50.63 million. GE has earnings per share of $1.24 and its price to earnings ratio ended at 16.56.
Tesla Motors Inc (NASDAQ:TSLA)
Tesla Motors Inc (NASDAQ:TSLA) shares fell -2.83% and closed at $28.13 with the total traded volume of 2.26 million shares, more than the average volume of 1.50 million. Its outstanding shares are 105.21 million with the market capitalization of 2.96 billion.
In the second quarter, Tesla’s revenue has dropped, and its loss has grown. It lost $106 million in the second quarter, more than the $90 million it lost a year ago in the same period due to low sales in second quarter.