During the last few weeks, some stocks have pushed higher despite the market’s lackluster tone. One of them is this automotive giant, states Mark Skousen, editor of High-Income Alert.

General Motors (GM) is one of the world’s leading sellers of cars and trucks under the Chevrolet, Buick, GMC, Cadillac, Opel, Vauxhall, Holden, Baojun and Wuling and Jiefang brands.

With operations on six continents, the company employs 216,000 people in more than 100 countries.

After years of runaway costs and mismanagement, GM filed for bankruptcy in June 2009. With the government’s help, it soon emerged from bankruptcy and raised $20 billion with its initial public offering at $33 a share in November 2010.

Three months later, it announced annual net income of $4.7 billion, its first profit since 2004. Two years ago, the US Treasury sold its remaining shares of GM stock, closing the book on the 2009 bailout.

Since then, the company has been solidly in the black. GM produced record earnings and margins last year, thanks to strong sales in trucks and SUVs. And the balance sheet is strong, showing $20.1 billion in cash.

In the most recent quarter, earnings soared 157% on an 11% increase in revenue.

What’s going on here? Improving jobs numbers, low gasoline prices, new model introductions and cheap financing are powering near-record auto sales.

Consumers also are impressed that GM ranks near the top of J.D. Power’s initial quality and vehicle dependability studies. (Ahead of even many of the top German and Asian brands.)

These factors should push revenue even higher at GM in the months ahead, especially due to pent-up demand. The age of the average vehicle on US roads is currently 11.4 years.

It also is worth noting that GM owns 9% of Lyft, Uber’s main rival. The company is even testing GM’s self-driving Bolt electric vehicles on the city streets of San Francisco.

Plus, GM is rolling out its first all-electric car. The new Chevrolet Bolt has 238 miles of range and a starting price of just under $30,000 after federal incentives.

Let’s also talk about valuation. GM is dirt-cheap at just four times earnings, 32% of sales and only 1.2 times book value. Plus, you’ll collect a 4.8% dividend yield here.

No wonder Warren Buffett has been a recent buyer of the stock. In short, GM is on the upswing -- and offers excellent short-term trading potential.

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By Mark Skousen, Editor of High-Income Alert