General Motors (GM) on Tuesday released its third-quarter vehicle sales and delivery figures, showcasing a mixed bag of results. While overall vehicle deliveries dipped 2% year-over-year, reaching 659,601 units, retail sales saw a 3% increase. The company’s star performer was its electric vehicle (EV) segment, with record deliveries of 32,195 units – a 60% jump compared to the same period last year and a 46% increase from the previous quarter.
GM’s impressive EV performance was attributed to its diverse range of electric vehicles, catering to a wide spectrum of consumer preferences. “GM’s EV portfolio is growing faster than the market because we have an all-electric vehicle for just about everybody, no matter what they like to drive,” emphasized Rory Harvey, GM executive vice president and president of Global Markets. The company also highlighted its upcoming EV launches, including the 2025 Cadillac Escalade IQ and 2025 Cadillac Optiq, signaling its commitment to expanding its EV presence.
Beyond EVs, GM celebrated its best year-to-date total sales of full-size pickups since 2007, demonstrating continued strength in this crucial segment. Furthermore, the company claimed the top spot in the full-size SUV market with a retail market share of 63.7%.
For investors interested in participating in GM’s journey, purchasing shares is typically done through a brokerage account. Many platforms allow for the purchase of ‘fractional shares,’ enabling investors to own portions of stock without buying a full share. This is particularly beneficial for stocks like Berkshire Hathaway or Amazon.com, which can be expensive to own outright. In the case of GM, currently trading at $44.96, a $100 investment would acquire roughly 2.22 shares.
If you’re looking to take a contrarian stance and bet against GM, the process is more complex. It requires access to an options trading platform or a broker who facilitates short selling. Short selling involves borrowing shares to sell, with the hope of buying them back at a lower price later, profiting from the decline. Alternatively, investors can explore buying put options or selling call options, strategies that allow for potential gains from a decrease in share price.
