GM's Wall Street vindication is occurring as it outperforms its peers in 2024.

• This year, GM is demonstrating its excellence among automakers by consistently exceeding Wall Street's earnings expectations and surpassing its competitors.
• On Monday, the Detroit automaker's shares rose 54.7%, surpassing the performance of both Tesla and U.S. electric vehicle startups.
• Since last November, GM has used $12.4 billion in stock buybacks with the help of the automaker, and it plans to continue this practice in the future.

This year, DETROIT is distinguishing itself among automakers by consistently exceeding Wall Street's earnings expectations and surpassing its competitors.

On Monday, the shares of the Detroit automaker increased by 54.7%, surpassing both legacy competitors and U.S. electric vehicle startups.

Despite your doubts, it's true that GM continues to thrive, as evidenced by its recent third-quarter earnings beating Wall Street's expectations, according to BofA Securities analyst John Murphy in a note to investors last month.

Since last November, GM has utilized $12.4 billion in stock buybacks with the help of its crosstown rivals and Chrysler parent, as well as other sector peers. However, GM is proving to be operationally superior to its competitors.

Mary Barra, CEO and Chair, has emphasized the importance of differentiation for years, but it has largely been ignored. Despite their differences, GM and Ford have largely followed each other's lead in the automotive industry, with their stock prices moving in tandem.

As of Friday's close, Ford stock has fallen 10%, while others, including , which has been one of Wall Street's top auto performers, are also lagging behind GM.

Despite Tesla's stock price increase of over 30% in the past week following the election of President-elect Donald Trump, the company still lags behind General Motors in market share.

• General Motors (GM): 54.7%
• Ferrari (RACE): 34.3%
• Tesla (TSLA): 29.3%
• Hyundai Motor* (HYMTF): 27.9%
• (BYDDF): 27.2%
• (TM): down 6.2%
• Ford (F): down 10%
• (HMC): down 13.3%
• Volkswagen* (VWAGY): down 28.2%
• * (NSANY): down 36.1%
• (LI): down 36.8%
• Stellantis (STLA): down 42.5%
• (NIO): down 43.9%
• Lucid (LCID): down 47.5%
• Rivian (RIVN): down 54.9%* Over-the-counter shares

Unlike many competitors, GM has not lowered its 2024 guidance or underperformed Wall Street's quarterly earnings expectations. In fact, it has raised key financial targets despite facing ongoing market challenges in the U.S. and its Chinese operations losing hundreds of millions of dollars amid increased competition.

Although GM has announced cost-cutting measures, it has not had to be as drastic as other automakers this year. In contrast, Nissan, Volkswagen, and Stellantis are conducting extensive business restructurings that involve layoffs, production cuts, and other cost-saving measures.

Since January 2014, when Barra began leading General Motors, the company's stock performance has been disappointing for investors. Despite her leadership, the average closing price of GM's shares under her tenure is $38 per share, lower than the $40.02 per share closing price before she became CEO, according to FactSet data.

Under Barra's leadership, GM's stock shares have increased by 38.9% cumulatively as of Friday's close. In comparison, the S&P 500 experienced a nearly 300% increase during the same timeframe. The all-time high stock price for GM under Barra was $67.21 on January 5, 2022, when Barra unveiled GM's electric vehicle (EV) ambitions and growth plans.

The future of GM's hot streak is uncertain, but the company expects its 2025 performance to be similar to this year, with a weaker fourth quarter.

During the quarterly earnings discussion on Oct. 22, Barra emphasized that GM will maintain its competitive advantage and distinguish itself from other companies in the industry by continuing to excel.

"Barra stated that we will be disciplined and resilient, and we will make adjustments as necessary to maintain growth and profitability. In the coming weeks and months, you will witness how we will utilize the opportunities within our control to achieve strong results in 2025, similar to those of 2024."

According to FactSet, the average Wall Street estimate for GM stock's price target is $59.85 per share, which makes the stock overweight on average.