Auto response: me to the market to Detroit

Yeah!

NEW YORK (AP) – Shares of the Detroit-based automakers fell Thursday in the first day of trading after all three reported drops in June U.S. auto sales.

Yes, the big three American manufacturers were punished today, right from the bell:

Ford

Daimler

GM

With only GM making some real ground back after lunch. Seems we still like the moves GM has been making with it’s division sales – Allison Transmission and Delphi. The Japanese automakers we discussed on Tuesday also lost ground – it seems we’re also not interested in them having bigger pieces of a smaller pie (they’re also not likely to be targeted by Private Equity – a factor in GM’s popularity, I think. I must look at what else they have that they might sell?).

Honda

Nissan

Toyota

Their suppliers didn’t hold up much, either.

Should be good. There’s no indication that Private Equity is done with the Auto industry just yet, and each piece of news like this just makes them incrementally bigger and better targets.

Advertisements

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: