Why General Motors Shares Are Rising Today

General Motors Co GM is trading higher Tuesday after the company released its fourth-quarter and full-year 2021 highlights. 

GM said it sold 440,745 vehicles in the fourth quarter, down 43% year-over-year. The company noted that the comparable quarter (Q4 2020) was GM's best quarter for retail sales since 2007.

GM said it entered the fourth quarter with record low inventories, but the company’s fourth-quarter production and wholesale deliveries were up significantly from the third quarter, which GM attributed to improving semiconductor supply chain conditions.

Combined sales of the Chevrolet Silverado and GMC Sierra totaled 768,689 in 2021, representing about 39% market share, according to GM. The company noted that it has led the industry in retail sales in the full-size pickup segment every year since 2003.

See Also: Why Ford Shares Are Making New 52-Week Highs Today

GM Price Action: GM has traded as low as $40.04 and as high as $65.18 over a 52-week period.

The stock was up 7.32% at $65.65 at time of publication.

Photo: courtesy of General Motors.