General Motors Reports Record U.S. Total Sales of 2.6M Vehicles in 2023, Up 14%

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General Motors ($NYSE:GM) is a global leader in the automotive industry, producing some of the most iconic vehicles around the world. With more than a century of experience in the automotive industry, General Motors has become one of the world’s largest automakers. It reported record U.S. total sales of 2.6 million vehicles in 2023, representing an impressive 14% increase from 2020. The company has been able to recover from the pandemic-induced economic downturn that occurred in 2020, and this impressive growth in sales indicates that the company’s recovery is now in full swing. Its sales figures also indicate that the automotive market is on the rebound and that consumers have become much more confident about making large purchases such as cars and trucks. The company’s impressive sales figures are also bolstered by its strong portfolio of vehicles, which range from affordable smaller cars to luxurious SUVs, trucks, and electric vehicles.

Each of these vehicle types has seen increases in their sales in the most recent quarter, with the company’s electric vehicle sales seeing the biggest jump of all. Overall, General Motors’ record sales figures in 2023 are a testament to its resilience and commitment to providing its customers with the best vehicles possible. It is clear that its hard work and dedication are paying off, and its stock price reflects this success as well. As the automotive market continues to recover, General Motors looks poised to remain one of the most successful companies in the industry for many years to come.

Analysis

At GoodWhale, we have analyzed the wellbeing of GENERAL MOTORS and determined that, based on our Star Chart rating, it is classified as a ‘cheetah’. This indicates that it has achieved high revenue or earnings growth, but may be considered less stable due to lower profitability. Given GENERAL MOTORS’ rating, we can see that investors who are looking for high-growth potential would likely be interested in this company. It has an intermediate health score of 6/10 which implies that, taking into account its cashflows and debt, it is likely to safely ride out any crisis without the risk of bankruptcy. We can also see that GENERAL MOTORS is strong in dividend and medium in asset, growth, and profitability. These metrics provide investors with further information regarding the company’s stability and long-term prospects. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for General Motors. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for General Motors. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for General Motors. More…

Key Ratios Snapshot

Some of the financial key ratios for General Motors are shown below. More…

Peers

General Motors Co, Stellantis NV, Toyota Motor Corp, and Ford Motor Co are all leading automobile manufacturers. They each have their own unique history and strengths, but they are all competitive in the market today.

– Stellantis NV ($NYSE:STLA)

Stellantis NV is a holding company that was created in 2021 through the merger of Fiat Chrysler Automobiles and Groupe PSA. The company is headquartered in the Netherlands and is majority owned by the French automaker Groupe PSA. Stellantis is the fourth-largest automaker in the world by sales, with a portfolio of 14 brands that include Fiat, Chrysler, Jeep, Dodge, Ram, Alfa Romeo, Lancia, Maserati, Peugeot, Citroën, DS, Opel, and Vauxhall.

– Toyota Motor Corp ($TSE:7203)

Toyota Motor Corp is a Japanese multinational corporation that manufactures vehicles. It has a market cap of 27.43T as of 2022 and a Return on Equity of 11.32%. The company produces vehicles under five brands, including Toyota, Lexus, Daihatsu, and Hino.

– Ford Motor Co ($NYSE:F)

Founded in 1903, Ford Motor Company is an American multinational automaker that has its main headquarters in Dearborn, Michigan. The company sells automobiles and commercial vehicles under the Ford brand and most luxury cars under the Lincoln brand. Ford also owns Brazilian SUV manufacturer Troller, an 8% stake in Aston Martin of the United Kingdom, and a 49% stake in Jiangling Motors of China. It also has joint-ventures in China, Taiwan, Thailand, Turkey, and Russia. The company is listed on the New York Stock Exchange and is controlled by the Ford family; they have minority ownership but the majority of the voting power.

As of 2022, Ford Motor Company’s market capitalization is $47.32 billion, and it has a return on equity of 23.7%. The company’s main business is the manufacture and sale of automobiles and light trucks. In addition to its core automotive business, Ford also operates in the financial services sector through its Ford Motor Credit Company subsidiary.

Summary

General Motors (GM) has seen a significant increase in total sales in the US for the year 2023 with 2.6 million vehicles sold, a 14% increase from the previous year. Investors should take note of this growth as it demonstrates the strength of GM’s product offerings, both domestically and internationally. GM currently offers a wide range of vehicles such as SUVs, cars, and trucks, among others.

The company has also made strides in investing in advanced technology such as electric vehicles, autonomous driving, and connected car systems. This makes GM a solid long-term investment option for those looking to capitalize on the automotive industry’s growth potential.