auto

The bank sees 2011 EPS of $1.75 down from $2.40, vs. the consensus for $1.84 per share, and 2012 EPS of $1.95 down from $2.45, vs. the consensus estimate of $1.96 per share.

The revisions are based on the continued improvement in Ford's operating results which should lead to a reversal of almost all of Ford's valuation allowance against deferred tax assets as soon as the second half of this year.

Morgan Stanley lowered its EPS estimates for Ford Motor Company (NYSE:F), while maintaining its overweight rating and $21 target price for the company.

The temporary shutdown of the company's 13 factories in North America is inevitable, the company said. How long the production stoppage will last is unknown.

Toyota Motor Co (NYSE:TM) announced earlier today that they will have to close down all of their North American factories by the end of this month due to a parts shortage caused by the damage from the Japanese earthquake and tsuna

The company joined a growing number of companies in noting, however, that it expects a parts shortage from Japan will significantly affect the auto industry well into the year.

Chairman and CEO Mike Jackson said, "We expect production disruptions will significantly impact product availability from Japanese auto manufacturers in the second and third quarters of 2011.

AutoNation Inc (NYSE:AN) posted year-over-year unit sales growth of 19% for the month of March, selling 22,246 cars. For the quarter, the company posted 23% year-over-year growth, selling 54,190 cars.

General Motors (GM) is developing a Buick using the Chevrolet Volt's plug-in hybrid technology, reports Bloomberg. According to two people familiar with the project, designers are working on a version of the hybrid Opel Ampera sch

Greenlee, a Textron company, has acquired 51% of Shanghai Endura Tools Company, Ltd., a provider of hand tools for the home center, construction, industrial manufacturing and automotive channels. Based in Shanghai, China, Endura e

Honda Motor Co. says it will temporarily cut production at its North American auto factories starting Wednesday due to shortages of parts, according to a report by the Associated Press. The AP sites a company statement that indica

Of Autoliv's (NYSE:ALV) four manufacturing facilities in Japan, only one was knocked out of operation as a result of the Japanese earthquake, according to a report today. That facility only suffered minor damage though, and was ba

General Motors (NYSE:GM) announced today, in another sign of the Japanese disaster's global impact, that it is halting some production and temporarily laying off workers at its Tonawanda, N.Y.

The bank lowered its 2011 EPS estimate to $5.55, down from $6.15 per share, and 2012 EPS of $7.00, down from $7.50 per share.

General Motors has a potential upside of 38.9% based on a current price of $31.38 and an average consensus analyst price target of $43.57.

Morgan Stanley lowered its 2011 and 2012 EPS estimates for General Motors (NYSE:GM) and maintained its overweight rating and $50 price target.