NEW YORK (TheStreet) -- General Motors Co. (GM) climbed 1% to $40.45 on Monday morning after the company's Chevrolet brand won the 2014 North American Car of the Year and North American Truck of the Year awards.
The Corvette Stingray sports car won the North American Car of the Year Award, while the Silverado pickup, the full-sized truck that is one of GM's most profitable autos, won the North American Truck of the Year at the Detroit auto show. GM had not won both awards since 2007, and Ford (F) was the last company to sweep the awards in 2010 with the Transit Connect van and the Fusion sedan.
The Corvette Stingray defeated GM's Cadillac CTS and Mazda Motor Corp.'s Mazda3. The Silverado beat out Honda Motor Co.'s Acura MDX and Chrysler Group LLC's Jeep Cherokee.
Mary Barra, who takes over as CEO of GM on Jan. 15 after Dan Akerson retires, called the win "very significant," according to Bloomberg.
"I hope that people look, and if they haven't considered General Motors or Chevrolet they'll get into the showroom, because I'm confident if they get into the showroom they're going to see a lot of vehicles they like," Barra said.
TheStreet Ratings company team rates General Motors as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL MOTORS CO (GM) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."