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Thank the just-announced Silverado EV.
Wall Street responded in kind hours after General Motors announced plans to launch an all-electric version of the long-popular and long-running Chevrolet Silverado full-size truck. The automaker s stock was up by 1.5 percent at the end of the trading day Tuesday, closing at $61.94 a share. That s a new closing record. Earlier in the day, the stock reached an all-time high of $63.44, according to CNBC. Not bad for an automaker that emerged from bankruptcy just over a decade ago.
At present, America s biggest automaker is worth just over $89 billion. Of course, that s a fairly small figure compared to Tesla s $660 billion market cap. But Tuesday s announcement is still excellent news for GM going forward.
But is there any truth to them?
General Motors had a very good week. It unveiled the 2024 GMC Hummer EV SUV, of which the $105,000 Edition 1 trims sold out in less than an hour. Days later it announced an all-electric Chevy Silverado is on the way. Following that, GM s stock reached an all-time. America s biggest car company is now worth about $90 billion. There s genuinely a lot to be excited about, especially for an automaker that filed for bankruptcy in 2009. GM s commitment to an all-electric future means an entirely new lineup of EVs is coming, many of which will be built in the US.
Increases of over 300 percent are being reported.
We all know how much fun rental cars can be to drive, even if you re talking about something as average as a Mazda 3, but you can hire cool cars too, including stuff like a Chevy Camaro. Mix a rental car with a spring break vacation, and you ve got a recipe for fun, but some holidaymakers may find their joy cut in half.
The Points Guy is reporting that there s a shortage of rental cars available, and this shortage is a result of the pandemic. As a result, rental car rates are now soaring, with some Arizona, Hawaii, and Florida agencies charging as much as $300 per day for economy -sized cars.