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Last week, the China Automobile Manufacturers Association (CAAM) published July’s vehicle sales knowledge. In July, auto sales increased by 16.4% year-on-year to 2.11 million units, marking the fourth consecutive month of profit in the world’s largest automotive market. The main focus of China’s July automotive report was the expansion of NEVs (new power vehicles), which rose 19.3% year-on-year to 98,000 units, marking the first year-on-year monthly gain.
During the following week, the Chinese electric vehicle manufacturer (EV) NIO reported exceptional effects in the current quarter and presented a positive outlook for the third quarter. Electric vehicle giant Tesla TSLA made headlines after uttering a 5-to-1 inventory division to make its inventories more available to retail investors. The Company’s registered shareholders on August 21 will obtain 4 additional inventories at the end of the exchange on August 28. Post-division negotiation will begin on August 31.
(Read the most recent stock summary here).
1. Ford F has issued 3 protective withdrawals in North America. The first recall was 558,610 cars because of a brake problem. The recall refers to ford Edge 2015-2018 and Lincoln MKX 2018 cars. The recall concerned 3597 Lincoln Corsair cars built at the Louisville meeting plant from January 7 to October 21, 2019 to repair a faulty rear coil spring. The third recall considers some Ford F-150 2020 pickup trucks due to a battery connection problem. The recall affects 431 cars manufactured at the Kansas City meetinghouse from June 30 to July 1, 2020 (Ford withdraws 562638 cars from the market due to several defects).
2. NIO Inc. NIO reported a quarterly loss through ADS of 15 cents, closer than Zacks’ consensus estimate of a 34 cent loss. The figure also declined from a loss of forty-five cents consistent with the consistent percentage a year ago. China-based electric vehicle manufacturer reported revenues of $526.4 million, an increase of 146.5% year-on-year. The most sensible line also exceeded Zacks’ consensus estimate of $486 million. Solid deliveries at the time of the 2020 quarter led to superior performance. Third quarter revenue is expected to range from $572.9 million to $596.2 million, an increase of 125% over the same quarter of 2019 (NIO Q2 Loss Narrower than Attected, Q3 Promising Guidance)
3. Toyota MotorTM and Mazda Motor recently announced plans to invest $2.3 billion in a new joint venture plant in Alabama. This reflects an accumulation of $830 million over that announced in 2018 as a component of its original plan. Additional spending will incorporate complex new production technologies into companies’ production lines and provide improved workforce education. The plant, which has recently employed about six hundred people, is expected to receive 4,000 new employees. Production of up to 150,000 Mazda crossovers and 150,000 cars with Toyota gaming applications is expected to begin next year. (Toyota and Mazda increase investment in The Alabama plant to $2.3 billion)
4. General Motors GM announced that it would set the value of its first next-generation electric vehicle, the Cadillac Lyriq electric SUV, at less than $60,000, after introducing the newest style last week. The Lyriq, which is expected to be on the road through the end of 2022, will have three hundred miles of diversity expected at a full rate based on Cadillac testing. The vehicle will offer tier 2 HOME AC charging rates up to 19 kW and public DC fast charging rates up to 150 kW. It is also supplied with General Motors’ Super Cruise driving system, which allows 200,000 miles of hands-free road driving and automatic lane change. (The value of General Motors’ 2023 Cadillac Lyriq will be less than $60,000)
5. Daimler AG DDAIF announced its goal of paying $2.2 billion to resolve claims related to emissions fraud software in the company’s diesel cars in the United States. In componenticular, the regulations have two components. The first component includes the payment of $1.5 billion to civil and environmental claims similar to the emission control systems of the company’s 250,000 diesel passenger cars, as well as pickup trucks in the United States. The other component is the $700 million payment to settle a dispute over a customer’s elegance. (Daimler will pay a $2.2 billion fine for emissions fraud software)
The following table shows the value trends of some of the major players in the automotive industry during the following week and the six-month period.
Over the next week, all actions have become complex unless General Motors and Ford. Over the past six months, stocks in Tesla, Advance Auto Parts, and AutoZone have increased. Tesla has made the most of this period.
Beware of the effects of the pandemic on the automotive sector. Investors are eagerly awaiting the advanced results of Auto Parts AAP, which are expected to be released tomorrow.
Each chose through an expert Zacks as the number one favorite name to earn 100 percent or more by 2020. Each comes from another industry and has unique qualities and catalysts that can drive exceptional growth.
Most of the actions in this report fly under the Wall Street radar, providing an opportunity to enter the floor.
Today, those five possible house circuits.
Want the latest recommendations from Zacks Investment Research? Today you can download 7 moves for the next 30 days. Click to view this loose report from Ford Motor Company (F): Toyota Motor Corporation Free Inventory Analysis Report (TM): Advance Auto Parts, Inc. Free Inventory Analysis Report (AAP): General Motors Company Free Inventory Analysis Report (GM): Daimler Free AG Inventory Analysis Report (DDAIF): Tesla, Inc. Free Inventory Analysis Report (TSLA) : Free Inventory Analysis Report Free Inventory Analysis Report To read this article in Zacks.com, click here. Zacks Investment Research