Forget Tesla: These 2 Earnings Reports Reveal Where the Auto Market Is Heading

Summary

General Motors Co. NYSE: GM and Mobileye Global Inc. NASDAQ: MBLY both reported earnings recently, and between them, they said as much, if not more, about where the car industry is actually heading than any amount of noise around Tesla Inc. NASDAQ: TSLA after its own report. The two sit at opposite ends of the same industry. GM, a $73 billion auto-giant, tells you what consumers are buying, what they're willing to pay, and whether the shift to electric is making or losing money. Mobileye, an $8 billion auto-technology company, tells you what automakers are spending on the driver-assistance and autonomy systems meant to define the next decade.Get General Motors alerts:Sign Up Read together, the two reports point to a conclusion that won't please anyone hoping the future of driving arrives on schedule. For investors willing to accept that, though, both stocks offer an interesting way to play it. GM Is Making Money the Unglamorous WayGeneral Motors TodayGMGeneral Motors$82.59 -0.05 (-0.06%) As of 07/24/2026 03:59 PM Eastern This is a fair market value price provided by Massive. Learn more.52-Week Range$51.69▼$87.62Dividend Yield0.87%P/E Ratio41.71Price Target$99.68The message from GM’s report was clear: demand is solid. The company beat on both lines and raised full-year profit guidance for the second time this year, which isn't something a business does when it's worried about what's coming. What sits underneath that is more interesting. GM has been holding pricing relatively steady, rather than trying to buy volume through discounts, with its incentive spending running comfortably below the industry average. That distinction matters because a carmaker that has to discount to move inventory is telling you something very different from one that doesn't. Unsurprisingly, its truck and SUV franchise remains the engine. GM held well over 40% of the U.S. full-size pickup market in the quarter, and its large SUVs are outselling the nearest competitor by roughly three to one....