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Stock Market & Financial Investment News

News For TM;VLKAY;GM From The Last 14 Days
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August 24, 2015
08:04 EDTGMGeneral Motors coverage resumed with an Underweight at Morgan Stanley
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06:14 EDTGMGM recalling 59,474 2010 Chevrolet Cobalt vehicles
GM is recalling 59,474 2010 Chevrolet Cobalt vehicles manufactured January 4, 2010, to June 23, 2010. The affected vehicles may be equipped with an improperly routed Side-Impact Sensor wiring harness in the driver side front door. The misrouted wiring harness could cause an electrical short that disables the driver side curtain air bag. A disabled driver side roof-rail air bag will not deploy in the event of a crash necessitating deployment of that air bag, increasing the risk of injury to the driver.
August 23, 2015
18:23 EDTGM, VLKAYGM, Volkswagen slow production at Chinese factories, WSJ says
Auto manufacturers including General Motors (GM) and Volkswagen (VLKAY) appear to be running their Chinese factories at less than maximum capacity for the first time, reports the Wall Street Journal, citing industry data. The numbers suggest that a "bumpier ride" may be in store for multinationals that counted on Chinese demand, said the report. "The situation seems worse than that of 2008," remarked an engineer working at GM's Shanghai plant. Reference Link
17:32 EDTTMToyota extends Tianjin production shutdown through August 26, Bloomberg says
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August 21, 2015
06:46 EDTGMGM recalling 5,493 2014-2015 Chevrolet Impala vehicles
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06:14 EDTTMToyota to purchase air bag inflators from Nippon Kayaku, Reuters reports
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August 20, 2015
06:38 EDTTMToyota to ask parts makers for price cuts, Nikkei reports
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August 19, 2015
18:40 EDTVLKAYAudi electric SUV entering production in 2018 with 310 mile range
Volkswagen's (VLKAY) Audi (AUDVF) released additional details on its forthcoming "e-tron Quattro" electric SUV. The company said "the latest battery technology" will provide a range of more than 310 miles, adding that the SUV will be "in series production from 2018." In an August 13 press release, the company said it will be partnering with LG Chem and Samsung (SSNLF) SDI on batteries for the vehicle. Note that on August 5, Tesla (TSLA) stated that its Model X crossover utility vehicle remains on track for a late Q3 launch. Reference Link
13:35 EDTGMGM investing C$12M for added Chevrolet Equinox production at Oshawa Assembly
GM Canada president and managing director Steve Carlisle announced that GM will invest C$12M to increase Chevrolet Equinox production on the Consolidated production line at Oshawa Assembly and for related changes in the body shop at CAMI Assembly. This further investment in Ontario-based production and supplier tools will help to meet strong North American customer demand for the Chevrolet Equinox. The investment extends plans for ongoing Oshawa Assembly Consolidated Line production to 2017. GM has invested approximately C$800M in its Oshawa and St. Catharines operations over the past 3 years and recently announced a further $800M investment in its CAMI operation in Ingersoll, Ontario.
09:40 EDTTMToyota downgraded to Neutral from Overweight at JPMorgan
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August 18, 2015
16:50 EDTGMGM's future Buick production may shift to Europe, China, Reuters reports
According to two sources familiar with General Motors' plans, the majority of Buick vehicles sold in the United States after 2016 may be imported from China and Europe, Reuters reports. Reference Link
15:58 EDTGMGM's future Buick production may shift to Europe, China, Reuters reports
August 17, 2015
18:20 EDTVLKAYRegulators question Volkswagen over airbag rupture, Reuters says
The National Highway Traffic Safety Administration has requested information from Volkswagen (VLKAY) and Takata (TKTDY) over a previously-reported incident involving the rupture of a side air bag, Reuters reported. Volkswagen has not yet recalled any vehicles in connection with Takata's allegedly faulty air bags, the report noted. A Takata spokesperson said, "We believe [the Volkswagen incident] is unrelated to the previous recalls, which the extensive data suggests were a result of aging and long-term exposure to heat and high humidity." Reference Link
07:42 EDTTM, GMNew Street-high target of $465 gives Tesla shares a charge
Shares of Tesla Motors (TSLA) are jumping after Morgan Stanley boosted its price target by $185 to $465, a new high among Wall Street analysts. The company is positioned to dominate as car sales shift to robot-driven and shared vehicles, the firm argues. SELLING MILES: Morgan Stanley analyst Adam Jonas raised his price target for Tesla Motors to $465 from $280, well above Friday's closing price of $243.15. Today, ten trillion vehicle miles are driven annually, with almost all of them delivered by "companies practicing a 100-year-old business model of human-driven, privately owned, internal-combustion vehicles," Jonas tells investors in a research note. General Motors (GM), Ford (F), Toyota (TM) and Honda (HMC) are among the publicly traded traditional carmakers. The market of selling cars is going through some fundamental changes, argues Jonas. He believes Tesla is "uniquely positioned" to dominate given its expertise in autonomous technology and networked machine learning. An app-based, on-demand mobility service could more than triple Tesla's potential revenues by 2029, the analyst estimates. He expects Tesla over the next 18 months to roll out formalized business plans on shared mobility, allowing the electric vehicle maker to sell miles in addition to cars. His new price target of $465 reflects Tesla's potential to lead the revolution of the shared mobility public transportation hyper-structure and more confidence around the commercial viability of Tesla Energy. ROBOT-DRIVEN: Jonas expects nearly all car sales to eventually shift from human-driven, individually-owned cars to robot-driven and shared cars. If Tesla wants to succeed on its mission of accelerating the world's transition to sustainable transport, the move to a shared mobility model is critical, he argues. All of Tesla's cars are electric, connected, and able to "learn" through over-the- air firmware updates at any time, which no other established automaker can claim today, Jonas writes. MARKET REACTION: Investors are buying into what Jonas is arguing. Shares of Tesla are up 5%, or $13.10, to $256.25 in pre-market trading. Over the past three months through Friday's close, the stock is down 2%.
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