3 Auto Stocks Going Places: General Motors Makes Huge Gains for June, Tesla Meets Its Petition Mark, and Honda’s Alliance With GM
General Motors Co. (NYSE:GM): GM’s momentum this year continued throughout June with a 6 percent gain in sales, well above estimates that pegged the figure at 1.3 percent. Crossovers rose 9 percent; trucks, vans and SUVs swelled 8 percent; and car sales grew by 4 percent. Cadillac sales rose 38 percent after posting similarly impressive gains in May, with the new ATS and XTS both selling impressively. The Chevy Cruze, in the meantime, set a sales record. Weaker performance from GMC and Buick offset further gains overall, but with the 2014 Silverado due this month, it’s likely that GM will continue to grow.