Former Tesla Executive Recommends General Motors (GM) Stock

We recently published 10 Stocks Wall Street is Watching Heading into October. General Motors Company (NYSE:GM) is one of the stocks Wall Street is watching.

Jon McNeill, CEO of DVx Ventures and former Tesla president, said in a recent program on CNBC that the demand for EVs may decline following the end of subsidies but rebound in the long term.

“Demand is continuing to increase around the world. When I land in Tel Aviv, I see a lot of EVs, a lot of Chinese EVs. When I land in Mexico City, I see a lot of EVs and a lot of Chinese EVs. And certainly when you land in China, you see almost every car is an EV, but same thing in Norway. And the reason for that is these cars are a lot less energy cost, a lot less maintenance cost, and they’re super fun to drive because the weight of the center of gravity is actually in the center of the vehicle for the first time.”

Asked what names he’d own, the analyst mentioned General Motors and highlighted the company’s EV business:

“GM has come from the bottom of the charts now to the top of the charts and is the number one or number two player in the US. They’ve created a company several times the size of Rivian just in a few years. And so I wouldn’t rule out the US players, especially GM either. Like the GM released the Chevy Equinox and that is right around the $30,000 price point and that has shown that there is a mass market for these. They’re introducing the Bolt EV, the Bolt 2, early next year. And that’ll be another entry into that price segment. And so I think what they’re seeing is that yeah, there’s demand at that price point for sure.”

Hotchkis & Wiley Large Cap Fundamental Value Fund stated the following regarding General Motors Company (NYSE:GM) in its Q4 2024 investor letter:

“General Motors Company (NYSE:GM) reported strong Q3 earnings results and improved free cash flow guidance. We like GM for many reasons. First, we believe GM has leading market positions in its main business segments. Second, the valuation is extremely attractive. Finally, we believe it is a strong free cash flow generator, and the management team is committed to repurchasing their undervalued shares.”

While we acknowledge the potential of GM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.