Positive - General Motors impresses with dividend increase and buyback program

From Nasdaq: 2025-03-03 08:21:00

1. U.S. auto sales for February 2025 are projected at 1.23 million units with a SAAR of 16.1 million, up from January’s 15.6 million. Uncertain economic and policy conditions may impact sustained demand despite supportive factors like pricing and inventory.
2. General Motors impresses with a 25% dividend hike and $6 billion share buyback program. GM’s strong financials support these moves, with $14 billion in adjusted auto free cash flow last year and $35.5 billion in total automotive liquidity.
3. Advance Auto Parts reports a narrower Q4 2024 loss of $1.18 per share, beating estimates. Net revenues of $2 billion exceeded expectations, despite a 0.9% decline in comparable store sales year over year.
4. Standard Motor Products posts Q4 2024 adjusted EPS of 47 cents, beating estimates. Total revenues rose to $343 million, with a gross profit of $101 million. The company hiked its quarterly dividend by 6.9% to 31 cents per share.
5. Lucid Group reports a Q4 2024 loss of 22 cents per share, narrower than expected, with revenues of $234.5 million driven by strong vehicle deliveries. The company expects to produce around 20,000 vehicles in 2025 and plans to start midsize platform production in late 2026.
6. Tesla plans to update Models S and X with a significant overhaul, potentially switching to 4680 battery cells for cost-effectiveness. The company also applies for regulatory approval in California for its autonomous ride-hailing service.
7. AutoZone’s quarterly results are awaited, while the industry watches China’s vehicle sales for February. Stay tuned for updates in the auto and EV sector for potential market movements.

Read more at Nasdaq: Auto Roundup: GM’s Dividend & Buyback Boost, LCID’s Narrower Q4 Loss & More