Morgan Stanley downgrades American car stocks, with GM and Ford stock prices dropping more than 5% at one point.
Due to the intensification of price wars, market share squeeze, insufficient consumer purchasing power, and the rising default rate of credit, profit of usa auto companies is under pressure. As a result, Morgan Stanley is pessimistic about the future of America's car-mart industry and has downgraded the ratings of multiple American auto companies.
Can the soaring Tesla (TSLA.US) continue to surge? Goldman Sachs downgraded the automotive industry rating, but remains confident that Tesla can continue to rise.
Morgan Stanley has downgraded the overall rating of America's car-mart to 'in line with the large cap' rating, but still maintains a 'shareholding' rating for Tesla.
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