S&P Equity Research Maintains STRONG BUY Rating on General Motors

October 04 00:00 2011

NEW YORK, October 4 (RainbowNewsLine.com): Analyst Efraim Levy of S&P Equity Research reiterates his STRONG BUY rating on the shares of General Motors (NYSE: GM).

Analyst Efraim Levy, CFA, in a research note published yesterday mentions that General Motors have recorded 20% higher September sales as compared to last year. After being range bound for months the gas prices relieved causing a sudden rise in the sales of full size pick-up trucks. Chevrolet brand was supported by healthy sales of Cruze, which led to rapid growth in that month when compared to last year’s rate, the analyst says. Cadillac vehicles were kept constrained as the company decreased the fleet sales but GMC continued to expand at faster rate as their retail sales gained momentum. The analyst expresses his satisfaction with GM’s performance as the incentives were not higher than their peers.