The United Auto Workers (UAW) strike enters into its third week of picketing against Big Three automakers Ford (F), General Motors (GM), and Stellantis (STLA). While union representatives are seeing progress in labor negotiations with Stellantis, the UAW has extended its picket lines to additional Ford and GM facilities. Is this strike already beginning to weigh on the auto industry? CFRA VP & Equity Analyst Garret Nelson lays out which of the Big Three are the most vulnerable and the long-term ripple effects on auto production in the case of a prolonged strike. "Our ratings right now, we have a strong sell on GM and that's because we think they're in the most precarious position of the Detroit Three," Nelson states. "Heading into the strike, they had far fewer inventories at the dealerships, if you look across their major four auto brands." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
(Reuters) -Top global automakers on Tuesday reported a rise in U.S. new vehicle sales for the third quarter, buoyed by resilient demand for latest models and improved supplies. General Motors extended a strong year as it posted an about 21% rise in U.S. sales to 674,336 vehicles, benefiting from demand for its pickup trucks, affordable crossover SUVs and electric vehicles. EV sales jumped 28% in the third quarter from the preceding quarter, the company said.
If there was a Rodney Dangerfield of stocks, General Motors (NYSE: GM) would make a good candidate. The venerable automaker, as Mr. Dangerfield might say, gets no respect. While the company has made smart investments in electric vehicles (EVs) and autonomous vehicles (AVs) and delivered strong profit growth, the stock has gone absolutely nowhere in the last decade.