Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
American Axle & Manufacturing Holdings, Inc. (AXL) - free report >>
Magna International Inc. (MGA) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
American Axle & Manufacturing Holdings, Inc. (AXL) - free report >>
Magna International Inc. (MGA) - free report >>
Image: Bigstock
General Motors (GM) to Ramp Up Chevrolet Bolt EV Production
General Motors Company (GM - Free Report) has made the announcement to increase the production of Chevrolet Bolt EV by 20% in fourth-quarter 2018, per Autoblog. The growing demand for this auto giant’s electric compact crossover has prompted it to gear up production.
General Motors has stated that its battery-electric car is in huge demand in the United States and across the globe. The company anticipates global sales to be more than 35% for second-quarter 2018 and more than 40% in the first half of 2018. Its plan of extra production will help it keep pace with the growing demand for Bolt EV and restore its inventory level. Importantly, this is in line with the company’s vision of a world with zero emissions.
General Motors introduced Bolt EV in late 2016. The 2018 Bolt offers a 238-mile driving range from its 60 kWh battery pack, though the company hasn’t yet come out with updated specs for the 2019 model.
In a year’s time, shares of General Motors have outperformed the industry it belongs to. Its stock has grown 12.9% in comparison with the industry’s increase of 0.6%.
General Motors currently has a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the auto space are American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) , Magna International Inc. (MGA - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
American Axle & Manufacturing has an expected long-term growth rate of 8.1%. Over the past year, shares of the company have gained 4.3%.
Magna has an expected long-term growth rate of 8.5%. Over the past year, shares of the company have gained 26.4%.
Fox Factory has an expected long-term growth rate of 11.5%. Shares of the company have risen 43% over the past year.
Will You Make a Fortune on the Shift to Electric Cars?
Here’s another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>