GM stock value set a new record Wednesday following a keynote speech delivered by GM CEO Mary Barra in conjunction with the 2022 Consumer Electronics Show (CES). GM stock value hit a high of $67.21 per share before closing the day at $62.74 per share.
Today’s record high follows another record all-time high set yesterday, when GM stock value hit $65.98 per share following the release of the GM Q4 2021 U.S. Sales Results, which included higher-than-expected U.S. auto sales and optimism for the 2022 calendar year regarding the ongoing global microchip shortage.
Barra’s keynote speech for CES 2022 highlighted General Motors’ efforts in the fields of electric vehicle technology and autonomous vehicle technology.
“Visionary investments made over the past decade in electrification, software-enabled services, and autonomous driving have enabled GM to transform from automaker to platform innovator, one with the vision, the people, and the technology to change the world,” Barra said during her CES 2022 keynote speech.
General Motors also took the opportunity to debut numerous production and concept vehicles, including highlights like the 2024 Chevy Silverado EV, an all-electric version of the automaker’s popular pickup truck offering upwards of 400 miles per range and both fleet and retail iterations. GM also revealed the new Cadillac InnerSpace design study, a fully autonomous personal EV luxury coupe showcasing the latest in GM styling and technology concepts.
The recent rise in GM stock value in conjunction with GM debuts at CES 2022 echoes a similar performance last year, at which time GM stock value hit an all-time high following a series of debuts at CES 2021. Highlights from the 2021 show included the launch of BrightDrop, a new business venture focused on creating an ecosystem of electric first-to-last-mile products, software, and services, as well as the BrightDrop EV600, an all-electric light commercial vehicle. GM also debuted the luxury-laden, self-driving Cadillac Personal Autonomous Vehicle concept.
Subscribe to GM Authority for more General Motors technology news, General Motors electric vehicle news, GM stock news, and around-the-clock GM news coverage.
Comments
Yup happened exactly as I said it would of course.
It hit a peak at the start of the speech then almost exactly when the Silverado was revealed it started dropping and ended down 5% on the day..
I highly advice you to learn how the market behaves, if you simply compared S&P 500, Dow Jones you would realize that it wasn’t a good day today for the market.
I understand this and my comment was mostly sarcastic knowing there are so many other factors that determine the market. I just thought it was funny that the market turned almost to the minute of the Silverade EV release. I’m a big GM fan and love ICE engines but understand EV’s are here to stay and plan to own one in the near future. Was hoping the truck was a little bit more of a truck and something like this was offered as an Avalance. I fully believe in the tech it offers and also understand the changes to the architechture to make a true EV lead GM to the decision to design and build it. It has already began to grow on me like any new design does and I’m sure it will look more attractive to the general public as time goes on. Also, the interior looks like a big step up for both models shown.
Travis, I hear ya, but can’t but disagree that EV’s are the future, or electric for that matter. IDK if you have ever bought an industrial eletric motor, one capable of 100 HP, but the are almost 10 grand a pop. These 3 motor EV’s have 30K in just the motors before adding the batteries, drives and the vehicle itself. And while everyone keeps saying the even more expensive batteries will get cheaper with time, how does an eletric motor whose design has been in production for over a century get cheaper overnight?
Tesla has yet to turn a profit from actual sales.
Will EV’s actually be the future? Or is this just a flash in the pan? Do you really think by this time next year that federal grants will be going out to EV’s?
The current climate for EV’s is only good if your playing stocks. It’s not good anywhere else
IF (big if) GM can sell the Equinox EV for a straight $30,000, then costs are rapidly decreasing. EVs are supposedly simpler than ICE vehicles. I could conceivably see a future where everything is mass-produced and costs plummet; however, I agree with your overarching objections. There are many hurdles to overcome before that becomes a reality. The first one is solving battery fires. Others include revamping the EV charging experience and redesigning the batteries from scratch. If they can do this, then it’s possible it will work.
Steven & Richard, I agree there are a lot of hurdles to overcome if they really are the “future”. At this point it seems that they are as everyone is moving in that direction whether we fully agree with it or not. For it to make any sense financially, they have to find a way to mass produce and bring costs down. On top of the costs and hurdles Richard mentioned, there are legitimate worries about the power grid, battery lifespan, and lithium mining.
As a “car guy” that is trying to be open minded about the future, I’m intrigued by the performance and simplicity of EV’s and would seriously consider replacing my other half’s Equinox (sadly one of the last with a 2.0T) with an EV Equinox or Blazer in the future as she only commutes a few miles to work. On the other hand, I travel all across the Midwest for work, sometimes pulling a utility trailer, and a 300, probably even 400, mile range won’t cut it when I’m pulling a trailer and it’s 10 degrees outside. On top of that, there will need to be a ton of infastructure put in across rural America to make this even close to a real possibility. Above all, I have absolutely zero interest in paying $100k to get the same options I have in my current $65k truck.
SilveradoEVGud, I appreciate some good sarcasm but didn’t mean to come off toxic. I’d like to think I’m realistic and open-minded. As mentioned, I was just hoping the Silverado EV “was more of a “truck” and if they want to build something like this, they call it something else as I’m sure there is a market for it. Hopefully they do create a “wow” in the Denali, but with this thing at $105k, I am afraid the biggest wow may be the price.
My apologies I literally thought you were being toxic but I appreciate your thoughtful response and agree I was hoping that they would keep the essence of the name “Silverado”, feels a little bit too futuristic. Now we turn our eyes towards the Denali that definitely will be the Wow in this equation.
EV’s good for stocks, bad for budgets.
I really don’t understand the stock market. GM has at least 2 class action lawsuits and a billion dollar recall for the Bolt and the stock value goes up, because of a speech? If they lose the lawsuits regarding the engines and 8 speed transmission’s it’s going to cost them a ton of money. Here is another serious question. Why would all the manufacturers go to electric? Our electrical grid can easily be attacked by a terrorist group or enemy country. If the grid goes down and we are all on electric cars we are dead as a nation.
Not all manufacturers are trying to force BEVs so aggressively. In fact, the best selling company in the United States, Toyota, seems to be soldiering on just fine without. Perhaps lowercase gm is hoping that some people will settle for this unproven tech so that their bread and butter v8s will comply with cafe fleet emissions standards. What a joke.
And that’s partly why Toyota is so successful. They can see the writing on the wall.
No, they just sell cheap cars that break down often, so they sell more. And their parts are very expensive.
Sorry but the second you claimed Toyota makes cheap cars and they break down when we are on a gm website nobody can take anything you say anymore serious. gm is the recall king for a reason.
Raymond, I am Chevrolet through and through, that’s all I own and I hate Toyota, but they do make a great vehicle. They are boring cars IMO but they are definitely reliable.
There’s a chance Toyota will be yesterdays news of they drag their feet much longer. A star is brightest right before it goes out.
Toyota revealed over 30 EVs and didn’t have to draw out the reveals in a span of over 3-4 years. They showed them all right there including the Lexus models
USA 1:
Oil refineries and infrastructure are just as vulnerable.
Also, have you ever tried to pump gasoline without electricity? ICE vehicles would be just as useless.
Ever tried refining crude oil into gasoline (or anyrhing else for that matter) without electricity? No electricity, no gas, either.
It’s called jerrycans have you ever heard of those? No look them up you are welcome.
Like most people keep cans of gas around ? Spare me.
I don’t need to spare you anything dude it’s called being prepared and using your head. Try it next time instead of making bogus statements.
I can go two weeks driving to and from work with my HHR on a tank of gas. No way in hell you can go two weeks on an electric car. I live in California and I know about power outages. They suck if all you have is electric, you need a variety of energy sources.
USA 1:
@300 miles range I can go nearly 3 weeka in an Ultium EV.
….your turn.
You must be a city boy with a work from home job then. Or you are just terrified of going outside because of the virus so you dwell in your basement.
….. your turn
Megeebee:
Is that before the car catches fire while it’s sitting in your garage?
He’s happy about that. The fire will keep him warm during the electric outage.
Kenny, Ha ha ha ha ha
Smoke and mirrors? The proof will be whether consumers buy gm vehicles.
After the most expensive recall in history and I have yet to see any $ from my Bolt woes after four months of supporting GM and GM Financial. Stockholders need to realize that GM has had two EV failures so far. Buyer beware. Stockholder beware! Bara Buy Back Bolt Better!
Why is Tesla stock one of the highest priced stocks out there? It is sure not that they are profitable but it’s what the stock holders believe in that it’s the future. GM, a century old company, is re-inventing themselves and any company to survive must constantly change and innovate with smart management of asset’s and resources. Ms Barra is doing exactly that.
GeorgeS:
Exactly.
Seriously? Some funny comments here.
This is obviously an Avalanche size truck. Nice but I would like a 2500 sized truck. I expect they could put a suburban body on this frame too. I like suburban’s so that is good. Would be awesome to have an electric Suburban.
Electric is here to stay. companies need to catch up or they will be out of business by the end of the decade. Notice all the automakers are saying they will be 100% electric by X date? They see the writing on the wall.
Profitable? Cost? Tesla has been profitable for a couple years now. Last quarter they had a 30% margin! The highest of any automaker. They have a 6 month backlog at an annualized production rate of 1.2M vehicles. They don’t advertise and have 80% growth in production per year. I would say cost is tipping in favor of electric. ICE costs will not be going down. Battery tech is improving year over year and cost is dropping 30% per year.
Fires? You are miss informed. 200,000 ICE car fires in 2020. Tesla’s are 1/20th as likely to catch on fire as an ICE car. Check the numbers on the NHTSA. These are published numbers. You just don’t see any of the 200,000 ICE fires on the news. You will see any electric fire on the news.
Performance? Electric rocks. Can’t beat it. My I had an awesome TransAm WS6 with the LS1 with the manual 6 speed (I loved that car). That is nothing compared to any but the cheapest electric vehicles.
Range? Most decent electrics can get 350 miles, some up to 450. You would never need to go to a gas station again except on long road trips. For long road trips, electric still needs improvements. Can’t beat 5 minutes to gas up my truck. But in town, unless you drive 300+ per day, you would never have to fill up again.
Emergencies? Gas stations running out of fuel, stuck in traffic getting out of town? An electric is always full because you plug it in at home so when the hurricane comes, by default, you are fully charged and can drive from Houston to Austin or Dallas. Stuck in traffic, no worries, put it in camp mode and it only runs the AC/heater. An ICE has to keep the engine running and ends up running out of fuel like in that snow storm this week with people stranded on the highway.
The grid? Texas got 30% power from wind in 2021. In the US, some states got eve more. New solar and wind surpassed all other types of new power generation(NEW as in that is what was brought on line in the past year) Texas freezing weather? Wind produced record power durring the great power outage of 2021. Gas plants and wells failed miserably(they just need to be winterized). Check ERCOT for details.
So many benefits, so few downsides to electric.
Why didn’t they set the reveal for today???? All the stockholders who bought on anticipation of the EV reveal were squashed when the Fed made its decision. GM doesn’t even do reveals in person anymore so they could have easily moved the reveal today and the stock would have stayed at all time highs rather than diving 7% at close after the Fed Decision
I see the future world of vehicles being half electric and half gasoline and diesel mix. I don’t see 100% electric.
The hydrogen thing will be centered on large stationary industrial engine applications due to the hydrogen production hardware.
When I worked for Caterpillar in the 1970’s they were hot on the Wankel rotary diesel, the 7155 planetary Powershift on-highway truck transmission to eat the twin countershaft Eaton Roadranger transmission’s lunch, and the famed 3406 and 3208 on highway diesel truck engines. All this is now part of industrial history and the distant past. Caterpillar is now completely out of on-highway truck power unit applications. To me a mega business decision mistake.
Cummins and Daimler with Detroit Diesel have captured this on highway truck power unit market. Eaton has the on-highway Class 8 truck transmission business to itself. All players make superb products and are rocking.
Where am I going with all this? A future shake out in electric propel systems and applications with a combo mix between electric, diesel and gasoline propel. Somebody will come up with an exceptional battery and charging system. Maybe Bosch, maybe Toshiba, maybe Siemens, maybe GE or Emerson. Who knows. We are living in very exciting times. The waters going forward are both uncharted and exciting. You can bet your boots that the second and third world will stick with internal combustion.
GM is navigating in an interesting way. I wish for their success. I hate to see them go the way of Sears and hope they become the Walmart of the on highway vehicle industry. This will require very delicate and calculated planning the likes of which we have never seen before. I wish them well.
What a joke. Tesla will ship 1.5M EVs, the top 5 Chinese automakers will ship 2M+ in 2022. Legacy automakers like GM, Ford and Stellantis will need years to catch up and likely be staring at bankruptcy before the decade is out.
My opinion is GM stock is under valued. There is new auto makers out there that there stock is over valued. Some of these car companies have very little sales or they dont make money. It doesn’t make any sense. There is a major change in the auto industry from engine to battery. This would be like going from horse and buddy to the car. GM will rise to the top when they get the supply change issues sorted out. The new Silverado E and electric hummer shows what they can build there is no comparison.