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BUZZ-GM shines in rough year for US automakers

ReutersDec 31, 2024 2:46 PM

** 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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