NEW YORK (TheStreet) -- General Motors (GM) was gaining 1.6% to $35.19 Tuesday on news that the automaker created a position for a vice president in charge of safety and a jump in auto sales in Europe in February.
The new executive role, the Vice President, Global Vehicle Safety, is filled by Jeff Boyer. Boyerwill report directly to CEO Mary Barra and is tasked with overseeing safety developments on new vehicle models and recall activities. GM created the position as a response to recent recalls.
Unrelated to the new position, the European Automobile Manufacturers' Association reports that GM saw a 12.6% increase in sales in Europe in February. Automobile sales as a whole rose 7.6% in the month, with France as the only major market that showed a decline in the month.
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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 some important positives, 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."