CICC published a research report stating that it has initiated coverage on General Motors (GM.US) with an "Outperform Industry" rating and a Target Price of $65. The report points out that pickup trucks are the group's most important source of sales and enjoy a stable market share. The group's SUV and sedan products are facing intense competition, but sales of new products may effectively boost sales.

CICC believes that General Motors' electric vehicles are in a growth phase, but growth will not be forced. If the penetration rate of electric vehicles in the USA market continues to be pressured, the company may sell more high-margin internal combustion engine models in the short term. Regarding the group's decision not to fund the development of Cruise anymore, the report considers this a proactive approach that emphasizes capital efficiency, and Super Cruise is expected to benefit from increased R&D resources.

The report expects the group's earnings per share for the next two years to be $10.1 and $10.6 respectively, with adjusted net profit reaching $11.1 billion and $11.6 billion.