The growth rate of auto sales is predicted to remain steady in July, when sweeter financing agreements incited U.S. consumers to replace aging cars and trucks in the face of languishing consumer confidence and high unemployment. Fourty-one economists polled by Reuters expects the annual rate of U.S. light vehicle sales will be 14 million in July as compared to 14.1 million in June.
Major automakers are set to report monthly vehicle sales on August 1. Same period last year, vehicle sales were weak due to a dwindling supply of cars and high prices for consumers trapped in a tepid economic recovery. Toyota Motor Corporation (NYSE:TM), Honda Motor Co Ltd (NYSE:HMC) and Nissan are all predicted to announce large sales gains as compared to July of 2011.
Edmunds.com predicts sales at General Motors and Ford to come in flat or down versus last year, when they siphoned sales from Japanese rivals.
Ford Motor Company (NYSE:F)
Ford Motor Co. (F) sold $750 million of 3.5-year bonds in its second yardstick issue since recovering investment-grade ratings. Ford issued $1.5 billion of 3 percent, five-year securities last month in its first target sale after being upgraded to Baa3 by Moody’s.
In last trading session, Ford Motor Company (NYSE:F) jumped +1.54% and closed at $9.24 with the total traded volume of 41.38 million shares. It has outstanding shares of 3.82 billion with the total market capitalization of 35.26 billion and its beta value stands at 2.33 times. F has current ratio of 2.31.
General Motors Company (NYSE:GM)
General Motors and Manchester United declared that the world’s most admired football club’s shirt sponsor will be Chevrolet opening with the 2014/2015 season. Chevrolet, the present Official Car Partner of the Club, will turn out to be only the fifth shirt sponsor in the Club’s 134-year history.
Shares of General Motors Company (NYSE:GM) moved up +1.81% and closed at $19.71 with the total traded volume of 5.61 million shares. Stock opened at $19.46 and its shares were trading within the range of $19.37-$19.77. GM has earnings per share of $3.44 and its price to earnings ratio ended at 5.72.
Tesla Motors Inc (NASDAQ:TSLA)
Tesla Motors Inc (NASDAQ:TSLA) gained +0.26% with the closing price of $27.42. The overall volume in the last trading session was 1.58 million shares. Its fifty two week range was $21.50-$39.95. The total market capitalization remained $2.88 billion.
TSLA is ahead of its 52 week low with 27.53% and its last month price volatility remained 6.35%. Its beta coefficient was 1.23 with a target price of $37.23. Company’s current year earnings per share grew 16.71% while the five year EPS growth rate was +30.00%.