For Immediate Release
Chicago, IL – August 26, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Tesla Motors (NASDAQ:TSLA), Inc. (TSLA), Toyota Motor Corporation (TM), Harley-Davidson, Inc. (HOG), General Motors Company (NYSE:GM) ( GM) and Lear Corporation (LEA).
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Here are highlights from Thursday’s Analyst Blog:
Auto Stock Roundup: Tesla Makes Model S Faster, Harley Settles with EPA
Tesla Motors, Inc. (TSLA) was the biggest newsmaker in the auto sector yet again, after it launched batteries with higher capacity for its vehicles. Meanwhile, Toyota Motor Corporation (TM) resumed production in Venezuela, while Harley-Davidson, Inc. ( HOG) agreed to a settlement with the Environmental Protection Agency (EPA).
Further, General Motors Company (GM) announced the launch of a new midsize Chevrolet sedan in China and Lear Corporation (LEA) signed an investment agreement to build a premium leather processing plant in the nation.
Recap of the Week’s Most Important Stories
1. Tesla has launched new versions of Model S and Model X with 100 kWh batteries. Prior to this, the largest battery it offered was 90 kWh. The Model S P100D can accelerate from 0 to 60 mph in 2.5 seconds (when using the Ludicrous mode), which makes it the fastest car currently in production. It also has the longest range among all electric vehicles in production as of now. The Model X P100D with Ludicrous mode can go from 0 to 60 mph in just 2.9 seconds. The range of the SUV has also increased to 289 miles (read more: Tesla's New 100 kWh Battery Makes Model S Fastest Car ).
2. Toyota has restarted production in Venezuela after a gap of six months. This South American nation has been troubled by low oil prices and currency controls, which have led to a dollar deficiency in the region. As a result, Toyota, along with many other automakers, has been facing headwinds in vehicle production in the country. Toyota has now started vehicle assembly in Venezuela for catering to local markets as well as for exports. It is currently assembling three models – Corolla, Hylux and Fortuner – at the Cumana plant (read more: Toyota Restarts Production in Venezuela, Plans to Export ).
3. Harley-Davidson agreed to a $15 million settlement with the EPA, which had filed a complaint over the company’s “super tuners” which bolstered power but released harmful emissions. According to the EPA, the company sold about 340,000 of the tuners, and more than 12,000 motorcycles of various models with the tuners pre-installed. Of the $15 million settlement, $12 million will be paid as civil penalty while the other $3 million will be spent on a project to mitigate air pollution by replacing conventional woodstoves with cleaner-burning models. Per the deal, the company will buy back all the devices and discontinue future sales of the product (read more: Harley-Davidson Agrees to $15 Million Settlement with EPA ).
4. General Motors announced that its Chevrolet brand will be introducing an all-new compact midsize family sedan in China. The sedan will be launched at the Chengdu Auto Show, to be held on Sep 2, under the Cavalier nameplate. The vehicle features a 1.5L DVVT inline four-cylinder engine and is expected to provide class-leading fuel efficiency of 5.4 liters/100 km (read more: General Motors' Chevrolet to Launch New Sedan in China ).
5. Lear Corp has signed an investment agreement with the Administrative Commission of Yangzhou Economic & Technological Development Zone to build a premium leather processing plant in China. The plant will be established in Yangzhou and will have adjacent land reserved for future expansion. This is expected to help the company’s sales and business in China to grow.
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TESLA MOTORS (TSLA): Free Stock Analysis Report
TOYOTA MOTOR CP (TM): Free Stock Analysis Report
HARLEY-DAVIDSON (HOG): Free Stock Analysis Report
GENERAL MOTORS (GM): Free Stock Analysis Report
LEAR CORPORATN (LEA): Free Stock Analysis Report
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