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