📈🚗 General Motors has authorized a $6 billion stock buyback!

General Motors $GM is an American automaker with a long history and global presence. Founded in 1908 and headquartered in Detroit , it is known for manufacturing a wide range of vehicles, from passenger cars to commercial vehicles. Thecompany owns renowned brands such as Chevrolet, Cadillac, GMC and Buick. In recent years, GM has focused on innovations in electric and autonomous vehicles, while continuing to improve traditional internal combustion engines.

The company recently announced that its board of directors authorized a new buyback of the automaker's common stock worth up to 6 billion dollars. The move follows a month after GM beat estimates Wall Street in the first quarter, thanks to strong demand for gas-powered vehicles.

"We are very focused on the profitability of our internal combustion engine (ICE) business, growing and improving the profitability of our electric vehicle (EV) business, and using our capital efficiently," said Paul Jacobson , executive vice president and chief financial officer . "This allows us to continue to return cash to shareholders."

As a reminder, GM previously announced a share buyback in November worth $10 billion, of which approximately $1.4 billion. In the first quarter, the company bought back shares for $300 million and plans to repurchase the remaining 1.1 billion by the end of the second quarter.

The new share buyback will not be tied to a fixed timetable, but will be able to take advantage of opportunities in the market, such as when the stock price is favorable or when they have excess cash. This approach will allow them to maximize shareholder value as they can react to current market conditions and other financial circumstances.

GM stock , with a market capitalization of nearly $54 billion. Since November, when the$10 billionshare buyback was announced , thestock has risen by approximately 50 %. In addition, in January, the company raised its dividend by 33 % to 12 cents per share.

What's your opinion of General Motors $GM, do you like American car companies more than European ones?