![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
AUTOS OPINIONS
* USA - Ford slashes deep
Wider losses are expected - Cuts in big pickup, SUV plants to further weaken automaker's 2006 financial results
Detroit,Mich,USA -The Detroit News, by Brett Clanton -18 Aug 2006: -- Ford Motor Co. shocked Wall Street Friday with its steepest production cuts in two decades, adding fuel to worries that the automaker's situation is more dire than previously thought... The cuts -- mostly in big pickup and SUV plants -- will have an immediate impact on the bottom line at Ford, which has lost $1.44 billion so far this year. Automakers book revenue when vehicles are shipped to dealers, not when they sold to constumers... As a result, Ford could see $1.4 billion additional losses from the production cuts this year, said JP Morgan analyst Himanshu Patel... He estimates the company will post a 2006 pretax loss of $4 billion in North America and predicts it will lose between $1.9 billion and $2.7 billion in the region in 2007...
* USA - GM Ready To Roll In 2007
USA- Forbes, by R.M. Schneiderman -11 Aug 2006: -- Ailing auto giant General Motors will begin to see the benefits of its new product line starting in the first quarter of 2007, according to a Thursday report by Credit Suisse... Rob Hinchliffe, an analyst for the research firm, said negative margin trends should continue throughout the third quarter for the company, before improving slightly in the fourth... UBS maintained a "reduce" rating on the company with a target price of $24...
* USA - Analyst Shifts Gears On Automakers
USA-Forbes, by Kate DuBose Tomassi -14 Aug 2006: -- Saying he believes "most of the good news is behind General Motors but ahead of Ford," Bear Stearns analyst Peter Nesvold upgraded shares of Ford to "outperform" from "underperform" and downgraded GM "underperform" from "peer perform" reversing his call from mid-April... Ford Motor shares were up 32 cents, or 4.3%, to $7.69, in midday trading Monday while General Motors shares were up 4 cents, or 0.1%, at $30.15... Ford advantages include: a lack of the kind of pressure that General Motors is experiencing from its former parts division, Delphi; less pressure to sell Ford Motor Credit than GM had to divest GMAC -- it arranged to sell most of the financing division earlier this year -- and a much younger workforce than its rival... Nesvold also noted three potential positive catalysts for General Motors: a Delphi settlement without a United Auto Workers strike, which could come as early as Labor Day, the proposed three-way alliance with Nissan and Renault, and the closing of the GMAC deal, which the analyst expects by the end of the first quarter of 2007...
posted by Unknown @ 2:42 PM
0 Comments:
Post a Comment
<< Home