uploads///gm pm

General Motors Announces Its Plans for Oshawa Plant


Sep. 26 2016, Updated 8:06 a.m. ET

Price movement

General Motors Company (GM) has a market cap of $50.8 billion. It rose 0.87% to close at $32.39 per share on September 22, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 4.1%, 2.8%, and -1.2%, respectively, on the same day.

GM is trading 3.3% above its 20-day moving average, 4.0% above its 50-day moving average, and 7.4% above its 200-day moving average.

Article continues below advertisement

Related ETF and peers

The Guggenheim Multi-Asset Income ETF (CVY) invests 0.96% of its holdings in General Motors. The ETF tracks the Zacks Multi-Asset Income Index. The index aims to outperform the Dow Jones US Select Dividend Index using US stocks, ADRs, REITs, MLPs, CEFs, preferred stocks, and royalty trusts. The YTD price movement of CVY was 9.6% on September 22.

The market caps of General Motors’s competitors are as follows:

  • Toyota Motor Corporation (TM) — $205.1 billion
  • Ford Motor Company (F) — $48.4 billion

Latest news on General Motors

In a press release on September 22, 2016, Reuters reported, “General Motors Co.’s Oshawa plant will do final assemble work on at least 70,000 pick-up trucks a year once investments promised in its Canadian unit’s new labor agreement are complete, according to two sources close to negotiations.”

The press release continued, “GM reached a tentative labor deal with Unifor, the union that represents its Canadian manufacturing workers, early on Tuesday, saving thousands of jobs at the Oshawa plant, but the two side declined to say what new vehicle would be produced there.”

The press release added, “On Wednesday Reuters reported that the plant would do final assemble of Silverado pick-up trucks using bodies shipped from the GM plant in Fort Wayne, Indiana, boosting the automaker’s production of the strong-selling model.”

Sales for General Motors in August 2016

General Motors’s (GM) sales performances in August 2016 follow:

  • General Motors reported total sales of more than 256,000 units, a fall of 5.2% from August 2015.
  • GM reported retail sales of nearly 213,000 units, a fall of 5.4% from August 2015.
  • Chevrolet reported total sales of ~176,000 units, a fall of 3.9% from August 2015.
  • GMC reported total sales of more than 42,000 units, a fall of 14.0% from August 2015.
  • Buick reported total sales of nearly 22,000 units, a fall of 2.7% from August 2015.
  • Cadillac reported total sales of more than 16,000 units, a rise of 3.9% from August 2015.

GM has reported total sales of more than 1.9 million units YTD, which represents a fall of 4.2% from the same period in the prior year. Among the company’s segments, Large Van Sales rose 18% in August 2016, and Small Business Sales rose 3% YTD. Daily rental deliveries fell 34.0% in August 2016.

In the next part of our series, we’ll take a look at Nike (NKE).


More From Market Realist

  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.