A Buy Rating on General Motors That Has Nothing To Do With New Products

Robert Barry of Goldman Sachs has a

Robert Barry of Goldman Sachs has a “buy’ rating on General Motors even after the big automaker posted a huge 26% decline in sales for June. He also notes that GM’s most solid performer, full-size pickups, is under pressure from increasing incentives from Toyota for its Tundra pickup. Tundra has big discounts, as much as $5,000 in some retail ads, as well as five-year 0-percent lending. GM truck inventories are running at 107 days of inventory. That’s too high.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.