“Global Motors” remember the IPO slogan. General Motors (GM, quote) is seeing market share growth in the markets that matter like China (now the largest auto market in the world) and even in the ones that matter because they don’t matter such as Europe. 
Remember the term “less bad” after the crisis to refer to 2nd derivative improvement being found in not going down more? GM is seeing “progress in Europe”.
The company has narrowed their 1Q European Union deficit to less than Ford’s (F, quote) while still printing a $-175m EBIT loss. The stock looks very interesting on the breakout today if it can sustain levels above the January high of $30.70. Pre-market indications are well through this level.
Any discussion on GM technicals must address the U.S. Government stake and it’s unwinding. Estimated are for 255 million shares to remain to be sold and there is an estimate of 22 million being sold in March.
In March according to DB the U.S. Government was about 9% of the daily sales volume in the stock.
Watch for a catalyst which will be reinsertion into the SPX. Some talk surrounding this can happen soon and if so would lead to at least 80 million in passive share purchases.