GM - Detroit's Revenue Engines Finally Start To Fire

2024-05-01 11:35:00 ET

Summary

• Ford Motor and General Motors’ combined U.S. sales of electric vehicles haven’t grown since late 2022, despite them investing billions of dollars.
• Look closer at the first-quarter results they reported this week, though, and their revenue engines are starting to fire, and in helpfully different ways.
• Ford trades at roughly the same 7 times multiple of earnings it has for a while; GM has slumped to under 5 times, according to LSEG.

Detroit’s remake has ended up a little differently than expected. Ford Motor ( F ) and General Motors’ ( GM ) combined U.S. sales of electric vehicles haven’t grown since late 2022, despite them investing billions of dollars. Look closer at the first-quarter results they reported this week, though, and their revenue engines are starting to fire, and in helpfully different ways....

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