"To the extent that we have been the only automaker available in the sector, I am sure that some money will be rebalanced into GM," Ford told reporters Friday, according to The Detroit News.
Ultimately, however, the fate of the automakers' stock will be determined by their financial performance. "It doesn't make any difference to me where our shares are, or their shares are on any given day," Ford said.
Ford shares are up 15% this year after rising 334% in 2009. General Motors filed for an IPO registration last week and is expected to again become a public company this fall.Chrysler could also have an IPO as soon as next year, CEO Sergio Marchionne has said. -- Written by Ted Reed in Charlotte, N.C.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV