This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
U.S. automobile sales are expected to rise to 14.3 million vehicles in 2012, from 12.8 million units in 2011 and 11.6 million vehicles in 2010 and after cars sales hit their lowest levels in decades during 2008 and 2009 of about 10.4 million to 10.5 million vehicles. We are headed for the best year in domestic sales since 16.1 million vehicles were delivered in 2007.
Ford(F - Get Report) reported that sales rose 5% percent for cars and 9% for its signature F-series pickup truck. Ford and Chrysler will be curtailing or slimming down typical summer shutdowns to keep production moving along.
>>5 Stocks Poised to Pop on Positive Earnings
Ford is expected to earn $1.48 in 2012 vs. $1.51 in 2011. On a preliminary basis, earnings per share of $1.72 are expected by analysts in 2013. Why are expectations off for 2012 despite the strong showing in the U.S.? The answer is quite simple: Europe.
After nearly six years of not paying a dividend, Ford reinstated the dividend in 2012. The stock is hated by traders, having fallen over 28% from its 52-week high.
Selling at 7 times this year's earnings, Ford is just too good of a bargain and too oversold to overlook.
As of the most recently reported quarter, Ford was one of the
top holdings at David Tepper's Appaloosa Management.