This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at firstname.lastname@example.org or call 800-767-3771 ext. 9339.
For Immediate Release
Chicago, IL – December 14, 2012 – 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 Nissan Motor Co. (NSANY), Honda Motor Co. (HMC - Analyst Report), Toyota Motor Corp. , General Motors Company (GM - Analyst Report) and Ford Motor Co. (F - Analyst Report).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Thursday’s Analyst Blog:
China Auto Sales Approach 2-Year High
According to the China Association of Automobile Manufacturers (CAAM), passenger vehicle sales in China went up 8.2% to 1.79 million units in November, driven by steep discounts to tighten inventory by dealers at the end of the year and strong pent-up demand. It was the highest sales in almost two years. In the first 11 months of the year, sales grew 4% to 17.5 million vehicles in the country.
Wholesale deliveries (including multipurpose and sport utility vehicles or SUVs) rose 8.75% to 1.46 million units while deliveries of commercial vehicles escalated 5.6% to329,700 units in November. Dealer inventories fell 2.8% to 777,500 vehicles from October due to rising discounts, according to CAAM.
Sales of SUVs – the fastest growing class of vehicles in China – spiked 18% to 189,200 units in November. Meanwhile, the same in the first 11 months of the year swelled 26% to 1.79 million units.
Sales of Japanese automakers plunged (36.1%) on a year-over-year basis triggered by the conflict between Beijing and Tokyo over a group of uninhabited islands in the East China Sea that led buyers to avoid purchasing their vehicles.
Their market share dipped to 16.6% in the month under study from 17% in October and 19.4% at the end of 2011. However, sales of Japanese automakers improved by 72.2% from October to 170,200 cars, showing signs of recovery.
Nissan Motor Co. (NSANY) – which occupies the biggest market share in the country – posted a 30% fall in sales to 79,500 units during the month. Meanwhile, sales at Honda Motor Co. (HMC - Analyst Report) shrank 29% to 41,205 vehicles and Toyota Motor Corp. ebbed 22% to 63,800 vehicles.
The non-Japanese automakers have benefited from the plight of Japanese automakers in China during the month. Most of their sales improved during the month.
General Motors Company (GM - Analyst Report), the biggest foreign automaker in China, registered a 9.7% growth in sales to 260,018 vehicles, driven by impressive sales of Chevrolet and Buick brands. Ford Motor Co. (F - Analyst Report) sales jumped 56% to 67,505 vehicles during the month.
Auto sales in China had grown at a double-digit pace since 1999, except in 2008 when the global economic crisis crept in. In 2009, China overtook the U.S. as the biggest auto market in the world by sales volumes when the Beijing government introduced a stimulus package, including tax incentives for small cars with engine sizes of 1.6 liters or smaller.
However, the incentives were scrapped last year and the Beijing government imposed quotas on new car registrations in order to control the traffic congestions. As a result, new car deliveries plummeted 56% to 403,500 units in 2011.
Nevertheless, China’s automotive industry outlook is promising in 2012 and beyond. According to CAAM, passenger car sales in 2012 is expected to grow by 9% in the country, which is much higher than 2011 (2.5%).
Most of the industry experts expect a double-digit rise in sales in 2013. Total sales may surpass 20 million vehicles during the year.
Auto sales in the U.S. grew 15% to 1.14 million vehicles or 15.5 million on a seasonally adjusted annual rate (SAAR) basis in November, driven by strong pent-up demand generated from Hurricane Sandy as well as from the aging vehicles, and improving macroeconomic conditions. It was the five-year high sales recorded by the industry since 2007.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Zacks Investment Research
800-767-3771 ext. 9339