General Motors: Attractive On Valuation And EV Market Share Gains

Summary:

• General Motors remains a ‘buy’ due to attractive valuation, solid North American growth, and progress in the electric vehicle market.
• Revenue increased by 10.5% in Q3, driven by higher volumes and favorable product mix in North America.
• Despite international challenges, GM’s leverage improved, and restructuring efforts are expected to save over $1 billion annually.
• GM’s market share in the U.S. EV market grew to 9.3%, and management’s guidance for 2024 shows promising financial performance.

To many, the automotive space may not seem all that exciting. Although, given the movement in electric vehicles over the past several years, perhaps that sentiment is not as true as it used to be. But I digress. Certainly, we can all agree that the automotive

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