NEW YORK, NY -- (Marketwire) -- 05/02/12 -- The last time U.S. gas prices hit $4 a gallon, in 2008, it spelt doom for the U.S. auto industry, as sales of trucks and SUVs collapsed. Nowadays buyers are flocking to showrooms to replace their old gas guzzlers with new fuel-efficient/hybrid models. The significant jump in sales has provided significant opportunities for growth for auto-part manufacturers of fuel efficient/hybrid vehicles. The Paragon Report examines investing opportunities in the Auto Parts Industry and provides equity research on Fuel Systems Solutions, Inc. (NASDAQ: FSYS) and Quantum Fuel Systems Technologies (NASDAQ: QTWW).
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Two major auto manufacturers, Ford and Toyota, raised sales forecasts for 2012 after surprising first-quarter sales despite high gas prices. According to numbers releases by AAA gasoline in the U.S. averaged $3.90 a gallon April 17. The U.S. energy department expects prices to reach $4.01 in May. Increasingly high gas prices are motivating consumers to replace their used vehicles with newer and more fuel efficient versions. "Four dollar-a-gallon gas is not as much of a shock as it was four years ago," Mark Fields, Ford's President of the Americas, said at the New York auto show this month. "People are doing the math and saying, 'If I can get a lot better fuel economy, I'll go out and buy that new vehicle.'"
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Fuel Systems Solutions designs, manufactures and supplies alternative fuel components and systems for use in the transportation and industrial markets. Its components and systems control the pressure and flow of gaseous alternative fuels, such as propane and natural gas used in internal combustion engines. The company intends to release its first quarter 2012 financial results before the market opens on May 3, 2012.
Quantum Fuel Systems Technologies recently announced that its wholly-owned subsidiary, Schneider Power Inc., a leading developer and owner of renewable energy power plants, has acquired a newly constructed 10 megawatt utility-scale wind farm in Ontario, Canada. The Zephyr wind farm generation facility will supply electricity to the Ontario Power Authority under a 20-year renewable energy purchase contract, generating in excess of $3 million in estimated annual revenues.
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