GM stock value reached an all-time high today, topping out at $65.98, as of this writing. The jump in GM stock value is attributed to higher-than-expected U.S. auto sales for Q4 of 2021, as well as optimism for sales in 2022 as supplies of critical microchips continue to improve.
GM U.S. auto deliveries for Q4 of 2021 were reported at 440,745 units, a decrease of 43 percent compared to Q4 the year prior. Total sales for the 2021 calendar year are estimated at 2.2 million units, down 13 percent. The decline is attributed primarily to the global microchip shortage, which has deeply impacted GM’s production and feature availability.
Meanwhile, dealer inventories jumped 55 percent to 199,662 units by the end of 2021, as compared to 128,757 units at the end of Q3. General Motors expects economic growth and increasing microchip availability to shore up U.S. auto sales in the coming year.
GM stock value previously hit an all-time high last November following the opening of the automaker’s new Factory Zero plant in Michigan, reaching $65.07 per share. The GM Factory Zero plant, previously known as Detroit-Hamtramck, is General Motors’ first dedicated all-electric production facility, opening in November following $2.2 billion in investments, the largest single investment into a production facility in GM’s history.
To celebrate the opening of the GM Factory Zero facility, GM CEO Mary Barra rang the NYSE opening bell from the factory floor, while President Joe Biden took a tour of the facility later that day. Factory Zero will produce new GM all-electric vehicles at scale, including the GMC Hummer EV Pickup and SUV, the Cruise Origin autonomous ridesharing vehicle, and the upcoming Chevy Silverado EV.
General Motors is poised to debut the new Chevy Silverado EV pickup truck tomorrow in conjunction with the Consumer Electronics Show. Based on the BT1 dedicated body-on-frame all-electric architecture, the new Silverado electric pickup will feature GM’s Ultium battery and Ultium drive technologies, with range-per-charge expected between 300 and 400 miles, depending on the model and powertrain.