5 Most Promising Car Stocks According to Analysts

2. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 80

One-year Average Price Estimate: $48.86

US automotives giant General Motors Company (NYSE:GM) ranks 2nd in our list of the most promising car stocks according to analyst. In February, General Motors Company (NYSE:GM) declared a quarterly dividend of $0.09 per share, in line with the previous dividend. The dividend was payable to shareholders on March 16 to shareholders of record as of March 3.

As of the end of the fourth quarter of 2022, 80 hedge funds tracked by Insider Monkey had stakes in General Motors Company (NYSE:GM), up from 74 hedge funds in the previous quarter. Warren Buffett’s Berkshire Hathaway is the biggest stakeholder in the company with a $1.68 billion stake.

ClearBridge Investments made the following comment about General Motors Company (NYSE:GM) in its Q3 2022 investor letter:

“A volatile market can offer attractive opportunities to the patient investor, and we have our pencils sharpened for good entry points in favored companies. In the third quarter we added General Motors Company (NYSE:GM), finding shares overly discounted due to skepticism over earnings in a down cycle. While a slowing economy will clearly impact automotive demand, inventories and production are well below long-term averages, mitigating the risk of cyclical declines. Further, the company is at a technological inflection point we believe is underappreciated as it readies several electric vehicle product launches and scales its automated vehicle offering, Cruise.”