Why General Motors Shares Climbed in January
Auto stocks were under pressure for much of 2022 on fears that a slowing economy and rising interest rates would eat into demand for autos. A combination of easing fears about a recession, and General Motors (NYSE: GM) reporting earnings that showed no signs of a slowdown, moved GM shares into the fast lane in January.
Shares of the automaker were up 16.9% for the month, according to data provided by S&P Global Market Intelligence.
General Motors and other automakers didn't have a lot of supporters through much of last year. After a pandemic-induced period of little inventory due to flush consumers and disrupted supply chains, supply finally began to catch up to demand in the second half of 2022. That, coupled with fears that as the economy weakened, consumers would shy away from big-ticket purchases, has had investors watching on the sidelines.
Source Fool.com
