While EV giant Tesla Inc.’s TSLA shares have dropped by about 13% year-to-date, those of General Motors GM have risen by about 49%, marking the deep differences between the two carmakers.
Vehicle Sales: While Tesla retains the position of the best-selling EV maker in the U.S., GM is the best-selling automaker across fuel types.
GM delivered 659,601 vehicles in the U.S. alone in the last quarter while Tesla sold just 462,890 vehicles around the globe. GM is also amping up electric vehicle sales, taking over Ford in the last quarter as the second best-selling EV maker after Tesla.
GM, despite its lower EV sales, also has more variety for its American customers. The company sold 8 EV models in the U.S. in the last quarter, compared to Tesla’s just four. GM also introduced new EVs to the market this year, as Tesla continues to battle concerns about its aging lineup.
Tesla is also currently at risk of reporting its first-ever decline in annual deliveries, particularly after global deliveries fell 8.5% year-on-year in the first quarter and 4.8% in the second quarter.
Tesla’s Dropping Margins: Detroit-based automaker GM reported an EBIT adjusted margin of 8.4%, higher than the 8.1% reported in the corresponding period of last year. While Tesla is yet to report its results for the third quarter, the company’s adjusted EBITDA margin has been falling over the last several quarters.
In the second quarter, Tesla reported an adjusted EBITDA margin of 14.4%, down from 18.7% in the corresponding quarter of 2023.
Dividends Or The Lack Of It: Further, unlike Tesla, GM awards its shareholders with quarterly dividends. Earlier this week, the company’s Board of Directors declared a quarterly cash dividend on the company’s outstanding common stock of $0.12 per share payable on Dec. 19, 2024, to all common shareholders.
Tesla, however, has yet to offer a dividend to its common shareholders.
What If You Invested $1000 At The Start Of Year?
If an investor invested $1,000 in the GM stock at the start of this year, they would have nearly $1,490 as of the stock’s last close. However, had they invested in Tesla, they would be left with nearly $877, marking a loss of $123.
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Photos courtesy: GM and Tesla
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