GM's North American Restructuring Shows the Firm Moving More Toward What It Does Best
We are raising our GM fair value estimate to $46 after incorporating a major restructuring for GM North America announced Nov. 26. In our view, the company is wisely staying ahead of the cycle and moving to remove vehicles that are out of favor now that Americans are buying light trucks at a torrid rate. Light trucks constitute nearly 70% of monthly U.S. industry sales, and in GM's case that ratio is about 80%. That ratio is why we think GM stopping production in March and June of 2019 of the Bu...General Motors designs, builds and sells trucks, crossovers, cars and automobile parts. The company also provides automotive financing services through its subsidiary, General Motors Financial Company, Inc. (GM Financial). GM Financial provides retail loan and lease lending across the credit spectrum. GM Financial provides commercial lending products to dealers including new and used vehicle inventory floorplan financing and dealer loans, which are loans to finance improvements to dealership facilities, to provide working capital, and to purchase and/or finance dealership real estate. Other commercial lending products include financing for parts and accessories, dealer fleets and storage centers.
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