Wednesday, December 28, 2011

Ford (F) (GM) (TM) (HMC) Drop on U.S. Slowdown Concerns

Ford (F), General Motors (GM), Toyota (TM) and Honda (HMC) all closed down on Tuesday on concerns over the probable slowing of car sales in the U.S., and most likely Europe as well.

Some of this came from data released by The Conference Board, which show less than 10 percent of consumers surveyed saying they planned on acquiring a car in the next 6 months.

That could be devastating, as many people buy cars in the U.S. during tax season. If the auto industry is slow over the next six months, it doesn't bode well for the rest of 2012.

The European market is also very suspect in 2012 in light of the ongoing sovereign debt crisis in the region.

Honda closed Tuesday at $29.84, falling $0.42, or 1.39 percent. Toyota closed at $64.36, down $0.59, or 0.91 percent. General Motors ended the session at $20.09, declining $0.41, or 2 percent. Ford closed at $10.81, falling $0.14, or 1.28 percent.

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