SOURCE: Five Star Equities

Five Star Equities

April 11, 2012 08:20 ET

Electric-Drive Vehicles Sales Jump 49% in the First Quarter

Five Star Equities Provides Stock Research on Fuel Systems Solutions, Inc. and Quantum Fuel Systems Technologies

NEW YORK, NY--(Marketwire - Apr 11, 2012) - Rising gas prices and an improving economy have led to an impressive surge for hybrid and electric car sales. With no immediate solution for rising gas prices Americans have been protecting their pockets by switching over to hybrid and electric cars. The increase in demand has provided a great boost for companies in the Alternative Auto Parts Industry. Five Star Equities examines the outlook for companies in the Alternative 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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According to a recent Bloomberg report, electric-drive vehicles, including hybrids, plug-in models and pure battery-powered cars, were the fastest-growing segment in the U.S. auto market. First quarter sales jumped 49 percent to 117,182 vehicles from 78,527 a year prior.

"There are a lot of concerns today that the electric car is going to solve," Nissan Motor Co. Chief Executive Officer Carlos Ghosn said in a recent interview at the New York auto show. "People don't want to have to go to the gasoline station. They just want to fill their tank at home. They want to make sure they're not paying too much money for their gasoline bill every month."

Five Star Equities releases regular market updates on the Alternative Auto Parts Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Fuel Systems Solutions, Inc. reported results for its fourth quarter and year ended December 31, 2011. Mariano Costamagna, Fuel Systems' CEO, said, "Fuel Systems' fourth quarter revenue grew 34% to $111 million from the prior year with our BRC and IMPCO businesses growing 36% and 27%, respectively, enabling us to exceed our revenue outlook for 2011.

Quantum Fuel Systems Technologies Worldwide, Inc. announced that the underwriters of its previously announced public offering of common stock and warrants have exercised their over-allotment option and purchased an additional 1,625,000 shares of the Company's common stock at the public offering price of $0.83 per share, less underwriting discounts and commissions. Proceeds to the Company, net of underwriting discounts and commissions, will be approximately $1.2 million. The Company will use the net proceeds for general corporate purposes.

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