SOURCE: Paragon Financial Limited

Paragon Financial Limited

May 02, 2012 08:20 ET

High Fuel Costs Having Consumers Looking to Buy More Fuel Efficient Vehicles

The Paragon Report Provides Stock Research on Westport Innovations and A123 Systems

NEW YORK, NY--(Marketwire - May 2, 2012) - 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 Westport Innovations Inc. (NASDAQ: WPRT) and A123 Systems, Inc. (NASDAQ: AONE).

Access to full reports can be found at:

www.ParagonReport.com/AONE
www.ParagonReport.com/WPRT

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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A123 Systems, a U.S. manufacturer of lithium-ion batteries for use in electric vehicles, shares jumped sharply after the U.S. Army introduced a prototype vehicle that uses an A123 battery. The company expects an increase in sales to the Army as they make a "big effort to decrease its energy consumption and roll out more efficiency technologies," Dan Borgasano, a company spokesman, said in a recent interview.

Westport Innovations is a provider of engine and fuel system technologies utilizing gaseous fuels. The Company's technology and products enable light- (less than 5.9 liter), medium- (5.9 to 8.9 liter), heavy-duty (11 to 16 liter) and high-horsepower (greater than 16 liter) petroleum-based fuel engines to use natural gas. Westport Innovations was recently upgraded by CIBC to Sector Performer from Underperformer.

Paragon Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Paragon Report has not been compensated by any of the above-mentioned companies. We act as independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: www.ParagonReport.com/disclaimer