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Ford Motor (F), rating both stocks Buy. Daimler is cutting costs, and Ford is a “classic OEM investment case.” OEM is short for original equipment manufacturer and what the industry calls “auto makers.” Ford has a new CEO focused on cutting costs and improving products. A lot of things driving earnings improvement at Ford in coming years are within the company’s control. The call isn’t dependent on Ford’s EV strategy.
He is down on
Volkswagen (VOW.Germany). He rates Renault shares Sell and Volkswagen shares Hold. Both companies have what he calls corporate governance issues and fragile balance sheets.