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Auto Stock Roundup: General Motors (GM) Dominates the Week's Top Stories

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11.10.2021

Last week, General Motors GM created the maximum buzz in the auto space with its investor-day event, wherein the company laid out ambitious financial targets. General Motors believes that its compelling hardware and software platforms, electrification strides as well as aggressive autonomous vehicle development will result in major revenue growth by the end of the decade. The automaker aims to double five-year average annual revenues of $140 billion by 2030, with software and new businesses witnessing a CAGR of 50% through the decade-end. To that end, the company expects $80 billion in new revenues from software-enabled services, Cruise unit, BrightDrop business and OnStar insurance line. (Is GM a 'Buy' After Setting Ambitious Growth Targets?)

Meanwhile, as the global chip crunch continues, some companies have been prompted to slash guidance for the to-be-reported quarter. For instance, last week, automotive equipment giant Oshkosh Corporation OSK and trucking giant PACCAR PCAR issued dim business updates. Oshkosh expects supply-chain disruptions, and high commodity and freight costs to impact fourth-quarter fiscal 2021 results. A tough labor market and shortage of parts have made it difficult for the firm to manufacture and ship units, which particularly impacted its Access Equipment segment. As a result, Oshkosh anticipates fourth-quarter 2021 revenues and EPS to be lower than the prior expectations. It envisions fourth-quarter revenues and adjusted EPS of $2.05 billion and 90-95 cents, respectively. PACCAR updated that its third-quarter truck deliveries were affected by the global shortage of semiconductor supply. It expects deliveries of 33,000 vehicles, indicating a decline from 40,100 units sold in second-quarter 2021. The company expects chip crunch and related production inefficiencies to persist in the fourth quarter as well.

Ford F released September 2021 sales figures for the United States — the company’s most significant market. During September, the auto giant sold 156,614 vehicles in the........

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