General Motors Company’s (GM Quick QuoteGM - Free Report) car-sharing operation, Maven, is taking initiatives to expand its partnerships in ride and delivery services, per a Reuters report. Maven has decided to do so because its parent, General Motors, is mulling over entering the on-demand mobility business, which is presently controlled by Uber Technologies and Lyft Inc.

However, Maven has already taken steps to pull out from Lyft, in which General Motors holds a 9% stake. With its own Gig leasing business, Maven can now offer the automaker ride-sharing drivers.

Maven also has been accumulating knowhow and expertise. This could eventually enable General Motors to provide on-demand mobility services like Uber and Lyft. In fact, like other automakers, General Motors is now experimenting with several on-demand services, from peer-to-peer car sharing to fractional ownership, through Maven.

In the last one month, General Motors’ shares have outperformed the industry it belongs. Its shares have increased 10.1%, whereas the industry grew 7.6%.



General Motors currently carries a Zacks Rank #3 (Hold).

A few better-ranked automobile stocks are Fox Factory Holding Corp. (FOXF Quick QuoteFOXF - Free Report) , Cummins Inc. (CMI Quick QuoteCMI - Free Report) and Ferrari N.V. (RACE Quick QuoteRACE - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see  the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Fox Factory has a long-term growth rate of 16%.

Cummins has an expected long-term earnings growth rate of 12%.

Ferrari has an expected earnings growth rate of 14.1% in the long run.

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