General Motor Company’s (GM - Free Report) Chevrolet brand announced that the next-generation 2020 Silverado HD will be introduced in 2019. The new model will join 2019 Silverado 1500 and 2019 Silverado 4500/5500/6500HD, which are already available in the market. Recently, the company provided a preview of the latest Silverado HD before its launch in 2019.
Being one of the most successful truck manufacturers, Chevrolet will offer a new and extensive range of Silverado models, enabling customers to choose from a pool of options.
The new 2020 Silverado HD is designed keeping in mind the need of heavy-duty truck customers. On-road testing of the prototype is about to start soon. The model is scheduled to be available by the third quarter of 2019 and will be manufactured at the assembly plant in Flint, MI.
General Motors Company Price and Consensus
Earlier in March, the company introduced 2019 Silverado 4500HD, 5500HD and 6500HD models that are scheduled to hit the showrooms by the end of 2018. With a focus on easy-to-drive, these Silverado medium-duty trucks are designed for commercial customers.
Prior to this, in the Detroit Auto Show held in January, General Motors launched the 2019 Silverado 1500 model.
With rising demand for trucks, automakers are flooding the market with a number of options with specific configurations. This has enabled customers to choose per their requirements and investment capability.
Over the past year, shares of General Motors have outperformed the industry it belongs to. During the period, its stock has gained 16.8% in comparison with 5.1% growth recorded by the industry.
Zacks Rank & Key Picks
General Motors carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are Fox Factory Holding Corp. (FOXF - Free Report) , Cummins Inc. (CMI - Free Report) and BorgWarner Inc. (BWA - 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 expected long-term growth rate of 10.5%. Over a year, shares of the company have gained 30.7%.
Cummins has expected long-term growth rate of 11.4%. The stock has seen the Zacks Consensus Estimate for annual earnings being revised 0.3% upward over the last seven days.
BorgWarner has expected long-term growth rate of 8.6%. Shares of the company have risen 40% over a year.
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