uploads///gm pm

General Motors Announces Its Investment and Growth Plans

By

Updated

Price movement

General Motors (GM) has a market cap of $50.1 billion. It fell 0.81% to close at $31.89 per share on October 11, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were -0.87%, 2.3%, and -2.7%, respectively, on the same day.

GM is trading 0.25% above its 20-day moving average, 1.6% above its 50-day moving average, and 6.0% 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 7.6% on October 11.

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

  • Toyota Motor (TM): $193.6 billion
  • Ford Motor Company (F): $48.0 billion

Latest news on General Motors

On October 11, 2016, Reuters reported, “General Motors said it would add a third shift and 650 jobs at its factory in Spring Hill, Tennessee to meet higher demand for its recently launched Cadillac XT5 and GMC Acadia crossover SUVs.”

The report continued, “GM is finalizing details to fill positions in the current quarter, while the additional shift will be introduced in January 2017, the company said on Tuesday.”

In another report, Reuters stated, “US automaker General Motors Co. made its first investment in a Chinese car-sharing start up, the company said on Tuesday, as its attempt to reshape itself as a mobility solutions company spreads around the globe.”

Sales of General Motors in September 2016

General Motors’s (GM) sales performance in September 2016 follows:

  • General Motors reported total sales of 249,795 units, a fall of 0.60% from September 2015.
  • GM reported retail sales of 204,449 units, a rise of 0.3% from September 2015.
  • Chevrolet reported total sales of 170,237 units, a fall of 0.26% from September 2015.
  • GMC reported total sales of 43,268 units, a fall of 8.7% from September 2015.
  • Buick reported total sales of 20,922 units, a rise of 14.1% from September 2015.
  • Cadillac reported total sales of 15,368 units, a rise of 3.1% from September 2015.

GM reported total sales of 2,212,397 units year-to-date, a fall of 3.8% compared to the prior year.

Next, we’ll look at Altria Group (MO).

Advertisement

More From Market Realist