For Immediate Release
Chicago, IL – October 7, 2020 – 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 General Motors GM, Ford F, Fiat Chrysler FCAU, Tesla TSLA and Honda HMC.
Here are highlights from Tuesday’s Analyst Blog:
Big 3 Detroit Automakers in Focus: How Have They Fared?
After plunging the most in the second quarter since the Great Recession, the U.S. auto industry gathered momentum in the third quarter, with sales rebounding from coronavirus-led lows and buyers returning to showrooms. Sales growth for September marked the first monthly rise since February. Unless there is a spike in coronavirus cases, which will trigger another round of lockdown and send vehicle deliveries into a tailspin, auto sales in the United States are likely to gain traction going forward. Increasing consumer confidence, declining unemployment rate and Fed’s efforts to support the economy bode well for the auto industry, which is highly cyclical in nature.
Amid the improving landscape, let’s take a look at how the Big 3 automakers namely General Motors, Ford and Fiat Chrysler are currently faring. General Motors, Ford and Fiat Chrysler are three of the oldest auto firms dated 1908, 1903 and 1925, respectively. While relatively new auto firms including Tesla are surely beefing up competition, especially in the electric vehicle space, these three legacy automakers have certainly stood the test of time and remain trusted picks for investors and consumers alike. While Fiat Chrysler currently sports a Zacks Rank #1 (Strong Buy), General Motors and Ford carry a Zacks Rank #2 (Buy) and 3 (Hold), respectively. You can see the complete list of today’s Zacks #1 Rank stocks here