General Motors Company (GM - Free Report) is set to transfer its Vietnamese operation to VinFast Trading and Production LLC, a unit of Vietnam’s biggest private conglomerate — Vingroup JSC, per Reuters. General Motors intends to distribute Chevrolet cars through this local carmaker and anticipates this to boost its sales.
General Motors is likely to transfer the full ownership of its Hanoi factory, dealer network and employee base to VinFast by the end of 2018. Subsequently, from 2019, small cars will be produced under a GM global license.
General Motors used its Hanoi plant to assemble Chevrolet vehicles, with parts imported from South Korea. GM Korea is the biggest production base of General Motors in Asia, excluding China. The latest GM-VinFast partnership will be beneficial for the Chevrolet brand. Domestic strength, the insight of VinFast, and the global scale and expertise of General Motors will bolster this partnership.
In the past year, shares of General Motors have outperformed the industry it belongs to. During the period, its stock has gained 16% in comparison with the industry’s increase of 1.9%.
General Motors currently has a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the auto space are Allison Transmission Holdings, Inc. (ALSN - Free Report) , Ferrari N.V. (RACE - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) . While both Allison Transmission and Ferrari sport a Zacks Rank #1 (Strong Buy), Fox Factory Holding carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission Holdings has an expected long-term growth rate of 10%. Over the past year, shares of the company have gained 6.4%.
Ferrari has an expected long-term growth rate of 17.3%. Over the past year, shares of the company have gained 57%.
Fox Factory Holding has an expected long-term growth rate of 11.5%. Shares of the company have risen 30.2% over the past year.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
General Motors Company (GM - Free Report) is set to transfer its Vietnamese operation to VinFast Trading and Production LLC, a unit of Vietnam’s biggest private conglomerate — Vingroup JSC, per Reuters. General Motors intends to distribute Chevrolet cars through this local carmaker and anticipates this to boost its sales.
General Motors is likely to transfer the full ownership of its Hanoi factory, dealer network and employee base to VinFast by the end of 2018. Subsequently, from 2019, small cars will be produced under a GM global license.
General Motors used its Hanoi plant to assemble Chevrolet vehicles, with parts imported from South Korea. GM Korea is the biggest production base of General Motors in Asia, excluding China. The latest GM-VinFast partnership will be beneficial for the Chevrolet brand. Domestic strength, the insight of VinFast, and the global scale and expertise of General Motors will bolster this partnership.
In the past year, shares of General Motors have outperformed the industry it belongs to. During the period, its stock has gained 16% in comparison with the industry’s increase of 1.9%.
General Motors currently has a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the auto space are Allison Transmission Holdings, Inc. (ALSN - Free Report) , Ferrari N.V. (RACE - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) . While both Allison Transmission and Ferrari sport a Zacks Rank #1 (Strong Buy), Fox Factory Holding carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission Holdings has an expected long-term growth rate of 10%. Over the past year, shares of the company have gained 6.4%.
Ferrari has an expected long-term growth rate of 17.3%. Over the past year, shares of the company have gained 57%.
Fox Factory Holding has an expected long-term growth rate of 11.5%. Shares of the company have risen 30.2% over the past year.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on GM - FREE
Get the latest research report on ALSN - FREE
Get the latest research report on FOXF - FREE
Get the latest research report on RACE - FREE