Why General Motors is riding high
The automaker posts strong earnings and earns kudos for its new Chevrolet Impala.
The automaker posted better-than-expected quarterly results and also earned praise from Consumer Reports for the Chevrolet Impala, something that a few years ago seemed like a pipe dream.
GM's financial success was attributed to higher prices on some models, such as the Chevrolet Silverado pick-up truck, coupled with aggressive cost-cutting in Europe. (Click here for a closer look at the numbers.)
The praise that Consumer Reports heaped on the Impala, which GM recently redesigned, was nothing short of extraordinary.
The magazine noted that the Impala (pictured) has "been transformed from a woefully uncompetitive and outdated model that was to be avoided even as a free upgrade at the rental-car counter into a thoroughly modern and remarkably enjoyable vehicle."
Consumer Reports gave the Impala its highest ranking for a sedan, an honor that had exclusively gone to European and Japanese vehicles for at least two decades, according to CNNMoney. The only cars rating higher than the Impala are Tesla Motors' (TSLA) Model S, an electric-powered car, and the BMW 135i coupe.
The Impala's suggested retail price is $27,500, far cheaper than the $31,200 to $48,000 seen for the BMW and the $48,000 for Tesla's Model S.
About the only thing bad that can be said about GM is that the company's stock would have to more than triple for taxpayers to break even on their $49.5 billion bailout of the automaker at the height of the recession. That is highly unlikely, according to many experts.
--Jonathan Berr does not own shares of the listed stocks. Follow him on Twitter@jdberr
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I have all ways been a GM man but now none of the cars are built in the states,.there is only 3 that's built here now and none are GMs
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