General Motors (GM) Stock Forecast

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    General Motors is one of the original three U.S. automakers. The Detroit, Michigan-based company has been around since the early 1900s and has evolved with the times. GM has been investing aggressively in electric vehicles (EVs) and plans to introduce a hybrid Chevy Corvette. A supply chain disruption after the pandemic caused a shortage of new vehicles, causing GM to drop some vehicle features. In 2021, GM had revenue of $127 billion. GM is a popular auto stock but hedge funds believe it’s also undervalued.  

    How do they estimate GM will do in 2023? 

    The GM stock forecast for 2023 is generally bullish, with nearly 20 Wall Street analysts providing coverage on the stock. The median price target for GM stock is $42, which represents an 18% upside from where the stock is trading in early 2023. While there is a range of estimates for GM’s stock price, with some analysts predicting as high as $81 and others as low as $30. A survey of analysts shows that most of them are suggesting to trade GM stock.

    One of the reasons for this optimism is GM’s forecast for a resurgence in new car sales in 2023. The company predicts that 15 million new cars and light trucks will be sold in the U.S. for the year, following a period of cautious consumer spending due to the economic slowdown caused by the pandemic. This predicted growth in new car sales could bode well for GM, which is one of the largest automakers in the world.

    Another area of growth for GM is in electric vehicles (EVs). The company has been positioning itself to sell a potentially massive number of EVs, and has also been investing in battery-cell plants. However, as of early 2023, GM and its battery-cell partner, LG, canceled plans for their latest battery plant, suggesting that the company is pulling back on its investment in this area. Despite this setback, GM remains committed to expanding its EV offerings, and plans to introduce a Chevy Corvette hybrid vehicle in 2023. This will be the first semi-electric version of the automaker’s famous sports vehicle, and it is expected to sell for over $100,000. If the vehicle is well-received, it could bolster GM’s sales before the year is over.

    While GM’s prospects for 2023 appear generally positive, there are some potential headwinds to consider. One of these is the company’s production of battery-cells and packs, which has reportedly gone slower than anticipated. This could impact the company’s ability to meet its EV sales targets, and could also impact its financial performance if costs associated with production continue to rise. Additionally, while GM has predicted strong growth in new car sales in 2023, this forecast is dependent on a variety of factors, including consumer spending and economic conditions. Any unexpected changes in these factors could impact GM’s sales and financial performance.

    Despite these risks, GM remains well-positioned to continue its growth trajectory in 2023. The company has a strong track record of innovation and adaptation, and has shown a commitment to expanding its EV offerings despite the challenges associated with battery production. Additionally, GM’s diverse product lineup and strong brand recognition could help it weather any unexpected challenges that may arise. As always, financial analysts will need to closely monitor the market and stay abreast of any developments that could impact GM’s prospects in the coming year.


    In conclusion, General Motors appears to be on a positive trajectory for 2023, with a bullish stock forecast and anticipated growth in new car sales. The company’s commitment to electric vehicles and its planned introduction of a hybrid Chevy Corvette demonstrate its adaptability and focus on innovation. However, potential headwinds, such as slower-than-expected battery production and uncertainties around economic conditions, could impact GM’s performance. Despite these risks, GM’s strong brand recognition and diverse product lineup position it well to face any challenges. Financial analysts should closely monitor the market and any relevant developments to assess GM’s prospects throughout the year.


    Who are GM’s biggest competitors?

    GM competes against the likes of Ford, Toyota Motor, Honda Motor and Daimler. Now that GM is making EVs, it also competes against Tesla.

     What’s one of the risks that GM faces?

    One of the risks that the auto sector faces, GM included, is the supply chain, where any delays can stall the production of vehicles. 

    Is GM a good stock to own?

    GM could be a good stock to own. It is muscling its way into the electric vehicle market and has an aggressive plan for sales. This could make GM a good stock to own amid a shift from fossil fuels to more sustainable transportation.

    Is GM already selling EVs?

    Yes, but not many, at least not yet. In 2022, all-electric vehicles represented approximately 2% of GM’s total U.S. sales.

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