Boston, MA 10/30/2013 (wallstreetpr) – General Motors Company (NYSE:GM) will finally lay threadbare for shareholders, investors and analysts, its strengths and weakness for the third quarter of 2013, when it announces results on Oct 30, 2013.
General Motors closest competitor, Ford has already announced excellent results for the third quarter this year.
Ford on Oct 24, 2013, kept its date with profit making and announced positive results for the third quarter of 2013. Despite the good performance, in comparison to most other stocks in its category, Ford saw the slightest increase in its share prices, finishing at $17.60 just 2% higher than its price before the declaration of results.
General Motors has come a long way from its financial debacle back in 2008. After the government-brokered financial support to bail it out of the ‘Chapter 11 bankruptcy’ situation, General Motors has now reworked to show straight profits in the previous three years. According to a note issued by the General Accountability Office, the company now holds a good liquidity position and is being ranked higher by credit agencies.
However, it is also burdened with the higher pension it has to dole out, despite measures to lower the overall outlay for this sector.
As per analyst observations, the company has lost substantially on its market segment due to the bankruptcy and now commanders lesser consumers. In 2007, its market share was nearly 25.1%. As of last year, General Motor’s share of the market is just 18%. Currently, the General Motor handles nearly 17.7% of the new vehicles market segment in the U.S. markets.
Meanwhile Chrysler group, which also survived a bankruptcy crisis similar to that of General Motor with the government’s swift backing, is expected to announce its quarter three results for 2013.
Increased car sales in the US have been an indicator of an economy in the throes of recovery and General Motors hopes to reflect the positivity with good Q3 results.