NEW YORK (TheStreet) -- General Motors (GM) was very generous with its discounts for its pickup trucks in the month of February. The average discount on the Chevrolet Silverado jumped more than $500 to $4,218 from January to February. The move was meant to stimulate sales in the slumping but still lucrative pickup truck sector.
While improving the discounts on the lower end, the storied auto-maker is maintaining what new GM CFO Chuck Stevens is calling "pricing discipline" on its higher end models. While overall sales are slumping, more expensive full size pickups still seem to be performing admirably.
GM and Ford's (F) full size pickups are the standard bearers for the U.S. auto industry making up two-thirds of US Automakers pretax earnings, despite only accounting for 16% of North American auto production.
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TheStreet Ratings team rates GENERAL MOTORS CO 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 several positive factors, 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, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had sub par growth in net income."