Positive developments swept across in the auto industry over the last week. Advance Auto Parts Inc (NYSE:AAP) became the newest member of the S&P 500, while Toyota (NYSE:TM) added a feather in its cap as the first automaker to sell over 1 million vehicles in the Philippines. Meanwhile, Tesla Motors (NASDAQ:TSLA) reported record delivery data for the second quarter of 2015.
Additionally, General Motors Co (NYSE:GM) and Ford Motor (NYSE:F) reported the China sales data for June and first-half 2015. While the sales figures for the six-month period improved year over year, sales in June declined for both companies.
(Read last to last week’s recap here: Auto Stock Roundup for Jul 2, 2015)
Recap of the Week’s Most Important Stories
1. Advance Auto Parts became a component of the S&P 500 on Jul 8, 2015. The auto parts retailer replaced Family Dollar Stores (NYSE:FDO), which was acquired by Dollar Tree, Inc., in the index. Advance Auto Parts will now be a constituent of the S&P 500 GICS (Global Industry Classification Standard) Automotive Retail Sub-Industry index. Previously, the company was part of the S&P MidCap 400 index (read more: Advance Auto Parts Hits 52-Week High on S&P 500 Inclusion).
2. Tesla delivered 11,507 vehicles in the second quarter of 2015, representing an impressive 52% improvement over the second quarter of 2014. This is a record high for Tesla. Moreover, the figure surpassed the automaker’s target of 10,000–11,000 deliveries in the quarter. Shares of Tesla surged to $282.45, the highest in 10 months, on Jul 2, after the electric carmaker revealed the vehicle deliveries data (read more: Tesla Hits 10-Month High on Record Vehicle Deliveries in Q2).
3. General Motors and its joint ventures in China reported a 4.4% year-over-year increase in retail sales in the first half of 2015, taking the figure to 1,719,202 vehicles. The improved performance was driven by General Motors’ enhanced mix of SUVs and MPVs. General Motors and its joint ventures in China also reported June sales of 246,066 vehicles in the nation, down from 257,798 units in Jun 2014 (read more: General Motors' China Sales Rise 4.4% in First-Half 2015).
4. Ford sold 83,506 vehicles in China in Jun 2015. This reflects a 3% year-over-year decrease from May 2014. Sales of Ford in the world’s largest automobile market totaled 543,488 units in the first half of 2015, marginally higher than 543,033 vehicles sold in the same period of 2014. It is worth noting that Ford has started reporting only retail sales from May 2015 as opposed to wholesale figures reported earlier.
5. Toyota made it official that it is the first automaker to sell over 1 million vehicles in the Philippines. The automaker achieved this milestone in April this year, as Toyota Motor Philippines Corporation ("TMP”) sold 9,467 units in the country. TMP is a joint venture of GT Capital Holdings, Inc., Toyota Motor Corporation and Mitsui & Co. Ltd. (read more: Toyota Completes 1 Million Vehicle Sales in Philippines).
Performance
Despite several positive developments over the week, all major auto stocks recorded losses due to the overall weakness in the market. General Motors recorded the maximum loss of 5.6%.
The performances over the last six-months were more positive. Tesla continues to hold on to the position of the biggest gainer. Further, Harley-Davidson Inc (NYSE:HOG) is leading the list of losses once again.
What’s Next in the Auto Space?
A few automakers will release their Europe sales figures for June and first half of 2015, in the coming days. Thor Industries Inc (NYSE:THO) will pay a quarterly dividend of 27 cents per share on Jul 10, 2015. The dividend will be paid to shareholders of record as of Jun 26.