Auto Stocks Flat Despite German Plans For Electric Car Push (GM, HMC, TM, F, TSLA, TTM)
Germany is planning to invest $1.4 billion over the next two years to help its auto makers become major players in the electric car business with the goal of having 1 million electric cars on German roads by 2020. German Chancellor Angela Merkel said her country, one of the largest auto producers in the world, should be a leader in electric cars.
While admirable, Germany’s electric car goals aren’t having much of an impact on the Trucks and Auto Stocks Index, which is flat today. Shares of General Motors (GM), the largest U.S. auto maker, are higher by 1% on news that CEO Daniel Akerson recently bought almost $940,000 worth of his company’s stock. Combine that with a purchase of GM shares in March and Akerson has bought about $1.1 million in GM shares in just two months.
Shares of Japanese auto makers are mixed as Honda Motor (HMC) are up half a percent while Toyota Motor (TM) is down 1%. GM rival Ford Motor (F) is up 1% while Tesla Motors, Inc. (TSLA), the unprofitable maker of expensive electric cars, is flat on the session. India’s Tata Motors (TTM) is also up 1%.
Investors can track the Trucks and Auto Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
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