Auto Stock Roundup: Ford Beefs Up Electric Cars, Harley & Thor In Focus
Zacks Investment Research | Aug 23, 2017 09:47PM ET
It has been a mixed week for auto stocks. While most auto companies continued their bearish run, a few managed to make gains too.
Also, the significance of electric cars and the alacrity of the auto companies were felt during the week. Ford Motor Company (NYSE:F) has shown keen interest in growth, manufacturing and after-sales servicing of all-electric passenger models in China.
In fact, competition from foreign SUVs and electric cars has necessitated these auto companies to prepare for the future differently. However, that does not mean that these companies have taken their eyes off the present.
A few auto companies are already mulling over ride-hailing services. Auto parts companies are also teaming up with other companies to enhance vehicle safety for self-driving cars.
(Read the previous roundup here: Harley-Davidson Introduces 13 New Motorcycle Models ).
Harley-Davidson currently carries a Zacks Rank #5 (Strong Sell).
Performance
Among these stocks, in the least week, Tesla (NASDAQ:TSLA) recorded the maximum decline. Among the gainers, Advance Auto Parts, Inc. (NYSE:AAP) is the frontrunner in the past week.
In the last six months, Tesla in the only stock whose price has risen, while Advance Auto Parts registered the steepest decline.
| Company | Last Week | Last 6 Months |
| GM | -0.7% | -4.8% |
| F | -0.8% | -15.4% |
| TSLA | -2.8% | 43.3% |
| TM | 0.4% | -1.2% |
| HMC | 0.0% | -11.3% |
| HOG | -1.5% | -17.8% |
| AAP | 2.2% | -40.4% |
| AZO | -2.1% | -30.7% |
What’s Next in the Auto Space?
With the earnings season over, stay tuned for the usual news updates in the space.
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