General Motors (GM)
The biggest of the U.S. auto stocks, General Motors (GM), is once again the runner-up when it comes to auto sales.
For the second consecutive year, GM failed to best its Japanese counterpart, selling 9.71 million vehicles in 2013. That metric was up 4% from the prior year. The gain also means GM is closing in on Toyota. In 2012, GM sold approximately 450,000 fewer vehicles than Toyota. However, in 2013 that gap was just 270,000 vehicles.
GM’s ability to close the distance with the auto stocks leader is particularly impressive given the fact that Toyota had the benefit of a falling yen.
New GM CEO Mary Barra is intent on making her mark at the helm, and I suspect nothing would make her happier than steering GM to the top in 2014. Can she do it? Well, the company recently announced that it expects profits to rise in 2014.
That may drive GM stock higher, but the jury is still out on whether GM can oust Toyota from the top spot on the auto stocks podium.