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4-Traders Homepage  >  Equities  >  Nyse  >  General Motors Corporation    GM

GENERAL MOTORS CORPORATION (GM)
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General Motors : GM’s new Chevy Silverado bids for more US pickup profits

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01/14/2018 | 12:06am CEST

US consumers are shifting away from smaller cars in favor of larger SUVs, such as the Chevy Silverado, providing a major boost to Detroit automakers. (Reuters)

DETROIT: General Motors Co. on Saturday will fire a new round in the battle for profits from one of the US auto industry's most lucrative segments when it shows a new generation of its Chevrolet Silverado pickup truck at Detroit's auto show. The new Silverado, a highlight of the show, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. Analysts and company executives say the Silverado and the similar GMC Sierra are among the highest-profit models for the company, generating a significant share of its $9 billion in North American pretax earnings for the first nine months of 2017. By adding luxury features to their pickups, automakers have pushed prices in the segment to an average $46,984 a vehicle, according to Cox Automotive. That is well above the industry's average 2017 transaction price of $31,600 cited by GM. Competition in the North American large pickup market will heat up as GM and rival Fiat Chrysler Automobiles NV begin selling their redesigned trucks later this year and Ford Motor Co. invests in its best-selling F-series. Fiat Chrysler plans to unveil a new generation of its Ram pickup truck at Detroit's auto show on Monday. At a sneak preview in December, GM said it would offer eight versions of the new Silverado and more engine and transmission combinations than the current lineup. Executives said the new Silverado would have a high-strength steel bed floor and use "mixed materials" to cut weight and improve fuel economy. The F-series, which has an aluminum body, has been the best-selling model line in the United States for 41 years, with 2017 sales of nearly 900,000 vehicles. Last year GM sold a total of 947,972 of its four Chevrolet and GMC pickup models, two of which were mid-sized. US consumers are shifting away from smaller cars in favor of larger SUVs, crossovers and pickup trucks, a major boon for the Detroit automakers. Light trucks accounted for 63.2 percent of US new vehicle sales in 2017, up from 59.5 percent in 2016. However, US new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016 and are expected to drop further in 2018 as interest rates rise and more late-model used cars come back to dealer lots to compete with new ones.

(c) 2018 Copyright: Arab News 2017 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 146 B
EBIT 2018 11 310 M
Net income 2018 8 521 M
Finance 2018 4 960 M
Yield 2018 3,64%
P/E ratio 2018 6,73
P/E ratio 2019 6,54
EV / Sales 2018 0,37x
EV / Sales 2019 0,36x
Capitalization 59 554 M
Chart GENERAL MOTORS CORPORATION
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General Motors Corporation Technical Analysis Chart | GM | US37045V1008 | 4-Traders
Technical analysis trends GENERAL MOTORS CORPORATION
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 48,4 $
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Daniel Ammann President
Charles K. Stevens Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer & Senior Vice President
Patricia Fiorello Russo Independent Director
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