Update (4:22 p.m. EST): Updated with closing price, day high and low prices, price change and volume information.
NEW YORK (TheStreet) -- General Motors (GM) fell 1.6% to $39.38, down 64 cents from its previous close of $40.02, at the close of the trading day on Wednesday after the automaker announced that it expects a slight profit increase and flat margins in 2014.
The stock had a volume of 88,748,392, more than four times its average of 22,136,300. It hit a high of $39.77 and a low of $38.96 for the day.
GM's new executive team, led by CEO Mary Barra and President Dan Ammann, offered a cautious outlook, as the company anticipates only a minor increase in pretax profit in 2014. GM has continued to cut its losses and increase revenue in Europe, according to the executives, and the automaker expects growth in the U.S. and China in 2014 to help fund $1.1 billion in restructuring.
GM also plans to open four new plants in China, the company's best market, through 2015 in order to increase production capacity to 5 million vehicles annually there. This would keep GM on pace with Volkswagen in that market. GM built 3.3 million vehicles in North America in 2013.
TheStreet Ratings team rates GENERAL MOTORS CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about its 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."