Ford Motor Company and Honda Motor Co., Ltd. Sales Improve Along With the Economy
April 03 2012 - 8:20AM
Marketwired
Strong sales in March are a positive sign of recovery in the U.S.
auto sector. On average, 34 analysts surveyed by Thomson Reuters
expect March sales to hit an annualized pace of 14.75 million
vehicles. That would be up from 13.3 million a year ago but down
from 15.1 million in February. Five Star Equities examines the
outlook for companies in the Oil and Gas Industry and provides
equity research on Ford Motor Company (NYSE: F) and Honda Motor
Co., Ltd. (NYSE: HMC)
Access to the full company reports can be found at:
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"The current level of gas prices will further accelerate the
release of pent-up demand as consumers lean towards significantly
more fuel efficient new vehicles while used prices are still
strong," Morgan Stanley analyst Adam Jonas said. Current trends
make Morgan Stanley's projection of 14 million vehicle sales in the
United States this year look "very conservative," Jonas said in a
research note.
Consumers who held off purchases during the economic downturn --
which led to the worst U.S. auto sales since World War II adjusted
for population -- are returning to the market, said Edmunds.com
analyst Jessica Caldwell. "Vehicle trade-in rates have achieved
sustained highs in recent months, which suggests that consumers
have decided that they've held on to their cars for too long,"
Caldwell said. "And with the average credit score for new car
buyers at its lowest level since the first half of 2008, the market
is clearly becoming a friendlier place for all buyers."
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Ford Motor Company announced that Board of Directors of the
Company declared a second quarter dividend $0.05 per share on the
company's Class B and common stock. This is the same level of
dividend paid in the first quarter of 2012. The second quarter
dividend is payable on June 1, 2012, to shareholders of record on
May 2, 2012.
Honda Motor Co., Japan's third-largest car maker, officially
resumed production on Saturday at its plant in Ayutthaya in
Thailand, which was forced to close for almost six months after
severe flooding last October. Pitak Pruittisarikorn, executive
vice-president for Honda Automobile (Thailand), told a news
conference the plant should produce 150,000 vehicles in the
remaining nine months of 2012 and the target was for output of
240,000 per year.
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