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Published Feb 02, 2024 16:50
© Reuters.
DETROIT – General Motors Co. (NYSE:) has announced that starting with the 2025 model year, all new Chevrolet, Buick, GMC, and Cadillac vehicles will come standard with select OnStar features at no additional cost. The move aims to enhance the value and connectivity of GM vehicles by incorporating Automatic Crash Response, remote vehicle commands, and navigation and voice assistance into every purchase.
Marissa West, president of GM North America, stated that standardizing popular OnStar features will deliver more technology and value across all price points, ensuring long-term connectivity for vehicles and customers. This initiative reflects GM’s commitment to safety and connected services, leveraging nearly three decades of OnStar’s experience and innovation.
The OnStar One Essentials package will include the industry’s pioneering Automatic Crash Response, which connects customers to emergency assistance following an accident, even if they are unresponsive. Remote vehicle commands will be accessible through GM’s mobile apps, allowing customers to control their vehicles remotely. The package also integrates navigation and voice assistance with apps such as Alexa Built-in, Google (NASDAQ:) Assistant, and Waze on eligible vehicles.
GM’s most affordable models, including the 2025 Chevrolet Trax and 2025 Buick Envista, will be among the first to feature the OnStar One Essentials package, which will be included for eight years from the time of vehicle purchase. Cadillac customers will receive additional premium OnStar services for three years.
The OnStar One Business Essentials will offer similar benefits to GM Envolve fleet and business customers for eight years, with corresponding standard features for vehicles in Canada.
This initiative is part of GM’s broader strategy to advance an all-electric future, with the Ultium battery platform at the core, powering a range of vehicles from mass-market to high-performance. The company, known for its diverse brand portfolio, continues to focus on safety services and connected vehicle technology through its OnStar subsidiary.
The information is based on a press release statement from General Motors.
InvestingPro Insights
General Motors Co. (NYSE:GM) is enhancing its technological features and customer connectivity, which may further solidify its position as a prominent player in the Automobiles industry. In light of their recent announcement regarding OnStar features, let’s delve into some key metrics and InvestingPro Tips that could provide additional context for investors considering GM’s stock.
InvestingPro Data shows a robust Market Cap of $44.87B, indicating GM’s significant presence in the market. The company’s P/E Ratio stands attractively at 5.22, with an even more compelling adjusted P/E Ratio for the last twelve months as of Q4 2023 at 4.4. These figures suggest that GM is trading at a low earnings multiple, which could be appealing for value investors. Additionally, the Revenue Growth for the last twelve months as of Q4 2023 was 9.64%, showcasing the company’s ability to increase its sales in a competitive environment.
In terms of InvestingPro Tips, it’s noteworthy that management at GM has been aggressively buying back shares, a sign of confidence in the company’s future prospects and potential undervaluation. Furthermore, the stock has demonstrated a significant return over the last week with a 10.49% price total return, which may catch the eye of momentum investors.
For those seeking a deeper analysis, InvestingPro offers even more insights, with a total of 14 additional tips available to subscribers. These tips include details on the company’s high shareholder yield, recent analyst earnings revisions, and insights into the stock’s current technical indicators.
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