Despite the automobile industry witnessing several headwinds since last year, this auto stock could be your top choice if you want to capitalize on the industry’s long-term prospects. I am talking about General Motors Company (GM).
Supply chain disruptions, high inflation, and rising interest rates led to a decline in the sales of light vehicles last year to their lowest level since 2012. Also, an estimated 13.70 million to 13.90 million new vehicles were sold last year, representing a year-over-year decline of 8% to 9%. However, General Motors Company (GM) stood out as it registered a 2.5% year-over-year rise in vehicle sales last year.
