General Motors outperforms competitors in 2024 with strong EV sales and diverse pricing strategy.

From Nasdaq: 2024-10-24 07:07:00

General Motors (NYSE: GM) stands out with a 51% total return in a tough year for auto companies, outperforming Ford (NYSE: F) and Stellantis (NYSE: STLA). GM’s success can be attributed to its progress in EV profitability, outselling Ford in EVs, and diverse pricing strategy for upcoming Cadillac EVs.

GM’s strong position in the large ICE vehicle market complements its EV success. With a 44% share of full-size pickup trucks and a 64% share in large SUVs, GM leads the pack in these profitable vehicle categories. The company’s investment in lithium resources also supports its long-term EV battery production plans.

Not facing union pressures like Ford and Stellantis, GM remains a strong company in a challenging industry. Its success in both ICE vehicles and EVs positions it well for the future, especially as the EV market growth slows compared to ICE vehicles. However, as a long-term investment, GM’s returns have lagged behind the S&P 500 over the past five years.



Read more at Nasdaq:: GM Stock Is Crushing the Competition in 2024 – Is It Time to Buy?