Citi Provides Color on Automotive Industry

Citi provided color on the automotive industry. In a research report published today, Citi stressed improvements in the troubled giants – Ford F and GM GM. In the report, Citi states, “Our checks suggest that recent industry pricing and market share gains have held up nicely with Buy-rated Ford in particular outperforming the industry, and GM also showing progress.” At the moment, Citi has a Buy rating placed on both Ford and GM. On Friday, Ford lost 1.71% of its value to finish the week at $13.24. Its shares rebounded in today's pre-market trading, however, rising 0.68% to $13.33. GM lost 0.73% on Friday to close the day at $29.92. Its shares continued to slide in today's pre-market trading, however, falling 0.47% to $29.78.