In the auto industry, General Motors Company (NYSE:GM) has recently revealed that its global chief marketing officer, Joel Ewanick, submitted his resignation to the Detroit auto maker. The departure news comes after many key changes to the company’s advertising approach and just ahead of its second-quarter quarterly financial results on Thursday. The giant automaker said on Sunday that Ewanick had chosen to leave the company and his decision is effective immediately.
A person close to the situation said Ewanick remained unsuccessful to properly report financial details about a recent sponsorship deal between GM’s mass-market Chevrolet brand and the world’s most popular soccer club, Manchester United.
In other news last week, Toyota Motor Corporation (NYSE:TM) took back the top position in global car sales versus General Motors Co in the first half of 2012, with Volkswagen AG poised to move past GM and push the U.S. automaker into third place for the full year.
General Motors Company (NYSE:GM) gained +2.93% with the closing price of $19.67. The overall volume in the last trading session was 6.80 million shares. Its fifty two week range was $18.72-$28.88. The total market capitalization remained $30.80 billion.
The stock is ahead of its 52 week low with 5.07% and its last month price volatility remained 2.62%. Its beta coefficient was 2.17 with a target price of $31.63. GM has insider ownership of 0.06% with its institutional ownership remained 35.24%. Company’s current year earnings per share grew 58.46% while the five year EPS growth rate was +13.22%.
Ford Motor Company (NYSE:F)
Ford Motor Company (NYSE:F) is apparently constructing a version of its F-150 truck that’s based on aluminum as an alternative of steel. The thought of a lighter body truck is striking from a gas-mileage viewpoint; though making the new vehicle is a risky attempt for Ford.
In last trading session, Ford Motor Company (NYSE:F) jumped +0.45% to close at $9.00 with the total traded volume of 67.99 million shares making it most volume active among Major Auto Manufacturers. Stock’s 52 week high price was $13.05 and 52 week low was $8.83.
Ford sales dipped 57% across European markets while the company has losses of US$1.4 billion during the period April to June 2012 as compared to the similar period in the previous year. Income for the past six months of 2012 has also declined considerably from $4.9 billion in January to June 2011 to $2.4 billion in the January to June period of 2012.
Tesla Motors Inc (NASDAQ:TSLA)
Tesla Motors, Inc. (Tesla) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components. Tesla Motors Inc (NASDAQ:TSLA) surged +4.91% and closed at $29.51 with the total traded volume of 1.67 million shares, more than the average volume of 1.58 million.
Its shares were trading within the range of $28.10-$29.66 while the stock opened at $28.71. It has outstanding shares of 105.21 million with the total market capitalization of 3.10 billion.