GM Stock Points to an Auto Industry That Has Peaked - TheStreet.com
NEW YORK ( TheStreet ) -- Auto sales have remained strong in 2015, largely due to increased sales of light-duty trucks and SUVs, but automaker stocks haven't performed as well. Light-duty truck sales increased 12. 9% year over year in July 2015 and 10. 7% year-to-date, according to auto data analysis firm MotorIntelligence. SUV/Cross-over sales increased 14. 5% in July, and 13. 1% in the first seven months of the year. Car sales, however, fell 2. 9% year over year in July and 1. 9% so far this year. The stock's chart shows a downtrend that broke the company's 200-day average. Shares of Ford were falling 1. 2% to $14. 59 Thursday, two days after the announcement that it is recalling 26,400 trucks in North America due to an issue with the front passenger and center seat belts not being angled correctly, according to the... The recall includes F-650 and F-570 trucks from model years 2011 to 2013, and 2015. Kamich highlights that Ford's stock also peaked in March. The stock slipped below its 200-day average after rallies to the downside of the average have failed, he says. The company's inability to confirm the safety of the area near the explosion kept the company from resuming production. Source: www.thestreet.com
