Don't look now, but General Motors (NYSE: GM) has quietly had a strong start to 2024 with its stock price jumping over 35% year to date. That compares favorably to its closest competitors Ford Motor Company (NYSE: F), which has remained roughly flat year to date, and Stellantis (NYSE: STLA), which has shed roughly 6% of its stock price.

General Motors' surge looks to continue after the company announced good news in terms of returning value to shareholders this week -- let's dig in.

General Motors announced earlier this week that its Board of Directors approved a new share repurchase of up to $6 billion of the company's outstanding common stock. This move is in addition to its November 2023 announcement of a $10 billion accelerated share repurchase.

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Source Fool.com