Friday, September 9, 2011

Ford (F) (GM) (TM) (HMC) Fall on China Slowdown

Shares of Ford Motor (NYSE:F), General Motors (NYSE:GM), Toyota (NYSE:TM) and Honda (NYSE:HMC) were under pressure Friday on the news that auto sales in China are slowing down.

With automakers looking to China for growth, every bit of negative news will have a significant impact on the shares of the companies.

That's not to say there's still not growth, but that growth in comparison to the last two years in the middle kingdom has slowed.

Overall vehicle sales have climbed 4 percent to 1.38 units in August. Passenger sales are up by about 6 percent for 2011 through August.

Honda was trading at $29.67, falling $0.89, or 2.91 percent, as of 11:41 AM EDT. Toyota was at $67.90, down $1.47, or 2.12 percent. General Motors was at $21.85, declining $0.63, or 2.85 percent. Ford was at $10.03, down $0.31, or 3.00 percent.

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