Industries all across the board have taken a beating over economic woes this year. As inflation continues to be a major concern for many economists, consumers watch as they see the price of everyday goods get higher and higher.
These economic woes have had a visible impact on the stock market leaving virtually every business across every industry feeling the impact of inflation. General Motors Company (GM) has followed in on this pattern as the company has seen a steady dip in its stock price. While the company was trading at $67.21 per share when it reached its all-time high during the pandemic, the company has been struggling to trade above $40.00 per share since early April. Today the stock is hovering just above $30.00 per share.
Despite this steady slide in share price, the silver lining is clear; it’s never been a better time for retail investors to buy into this company while the shares are on sale. Let’s go over why GM is making a name for itself in the EV industry and why now is the best time to add it to your portfolio.
The Future Is EV and GMC Is Ready
As consumers continue turning to electric vehicles over gas-powered vehicles, the demand is expected to grow in the next couple of years. GMC knows this and has an ambitious plan of investing heavily in its EV design and creation. Between 2021 and 2025, the company has vowed to allocate $35 billion two the design and development of electric vehicles.
GMC’s also investing in its logistical infrastructure by focusing on building strong ties with battery makers, suppliers of raw materials, chemical companies, and other business partners with goods related to the development of EVs. Building up a strong logistical infrastructure will allow the company to tackle supply chain issues head-on.
GMC has its eye on the prize when it comes to developing competitive EV models as well. With an ambitious goal of 1 million EV sales every year by the year 2025, GM is determined to be a key player in the industry. CEO Mary Barra shared with Barron’s magazine, “We’re going to be the leader by mid-decade…because we’re just going to have a broader portfolio.”
GMC Is Building Up Their EV Lineup
As the nation’s largest automaker continues on with its strong brand awareness, the company is dedicated to rolling out EV models that will catch the eyes of consumers.
Currently, GMC’s EV models include the GMC Humer EV Pickup and the GMC Hummer SUV. GMC has also announced they’ll also be introducing their Sierra Denali EV in early 2023.
Along with building a bigger Fleet of EV vehicles, GMC has developed the impressive battery pack Ultium. Chevrolet’s all-new first-ever EV pickup truck, the Silverado, is built on GM’s Ultium batter platform. Working with LG Energy Solutions, GM is committed to being a key player in the development and distribution of these battery packs critical to electric vehicles.
As the company continues on with its mission of taking well-loved vehicles like the GMC Terrain and creating their EV counterparts, it’s clear that this latest slump in the company’s stock price is a mere dip that has little to do with the company itself, and more to do with the nation’s changing economic landscape.
The Time is Now
If you have been keeping an eye on the Gm Stock and waiting for the right time to pounce, then you’re already behind the curve. Our advice, do it now! Don’t wait any longer because GM is low, for the time being, but it isn’t going to stay that way for long. Jump on the GM bandwagon before it’s too late!
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