On the eve of the Tesla Model S ride out in sunny California, analysts at JPMorgan Chase upped Tesla's stock (NASDAQ ticker symbol: TSLA) rating from "equal weight" to "overweight," boosting the automaker's status above most competitors in the automotive industry.
What percentage of new vehicles in the U.S. will be hybrid in the year 2020? Take our poll after the jump!
According to a recent study conducted by JPMorgan, hybrid sales are about to take off. Last year, there were some 480,000 total hybrid vehicles sold around the world, which represents less than one percent of global sales. By 2020, though, JPMorgan predicts that 11.28 million hybrids will be sold annually, representing over 13-percent of all vehicles sold.
As Tata's acquisition of Jaguar and Land Rover inches closer to completion, an anonymous source inside the Indian automaker has revealed that the company has secured a $3 billion loan in order to finally finance the take-over. The loan is reported to come from the banks of Citigroup and JPMorgan, although both financial firms as well as Tata have refused to comment on the reports.
While analyzing Ford's financial prospects, Himanshu Patel, an automotive analyst for JP Morgan, cut Ford's rating to 'underweight', meaning he predicts the company will underperform financially over the next six months.