BUZZ-GM shines in rough year for US automakers
General Motors GM.N is set to outperform its Detroit peers Ford Motor F.N and Chrysler-parent Stellantis STLAM.MI in 2024
Ford down 17.77%, U.S.-listed shares of Stellantis down ~44%, while General Motors GM.N up ~49% YTD
Ford has struggled with quality concerns, while Stellantis witnessed lower sales and revenue in North America
This also comes at a time when legacy automakers are not making enough from their electrified ventures amid stiff competition from Chinese companies pushing out cheaper models
GM's stronger performance this year was fueled in part by resilient demand for its gas-powered SUVs
GM shares up ~0.7% at the open on Tuesday, the last trading day of 2024. Ford relatively flat, while U.S.- listed shares of Stellantis up ~0.5%
(Reporting by Nathan Gomes in Bengaluru)
((Nathan.Gomes@thomsonreuters.com))
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