Jim Cramer’s Game Plan: 23 Stocks to Watch

6. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 72

Cramer has highlighted General Motors Company’s (NYSE:GM) substantial buyback program and praised the CEO, Mary Barra.

“In the morning, we have General Motors, one of the cheapest stocks in the entire S&P 500. The traders believe GM’s future earnings will collapse or would not have such a low price-to-earnings multiple, PE multiple. I think it’s a bargain, even as it may be hurt by tariffs on Mexican-made cars if Donald Trump wins in November.”

General Motors (NYSE:GM) develops, manufactures, and markets a wide range of vehicles, including trucks, crossovers, cars, and vital automotive components. On October 13, it was reported that Republican U.S. presidential candidate Donald Trump suggested the possibility of imposing tariffs exceeding 200% on vehicles imported from Mexico. In an interview, he expressed intentions to prevent the sale of cars from Mexico into the United States, stating, “I’ll put a number where they can’t sell one car.”

Reuters reported on October 16 that the company and Taiwanese tech giant Foxconn, plan to transition production from Asia to Mexico, a move highlighted by the nation’s deputy economy minister.

Additionally, on October 10, General Motors (NYSE:GM) reported significant progress in the Chinese market, with deliveries exceeding 426,000 vehicles in the third quarter of 2024. It was a sequential growth rate of 14.3%, the highest since the third quarter of 2022.

Additionally, sales of new energy vehicles, which include battery electric vehicles and plug-in hybrids, surpassed those of internal combustion engine vehicles for the first time in China. With over 224,000 units delivered, new energy vehicles constituted 52.7% of the company’s total Q3 deliveries in the region, which was a remarkable 60.7% increase year-on-year.