Donald Trump may be a Tesla (TSLA) owner these days, but the Secret Service is very much sticking with Detroit. The head of the U.S. Secret Service was in Michigan to meet executives from General Motors (GM) this week to discuss the next generation of armored SUVs, the agency said on Friday, just a day after Tesla was forced to recall virtually all its Cybertrucks due to a build quality flaw. I guess you call it “timing”.
Secret Service Sticking with GM
The Secret Service posted on X that Director Sean Curran met with GM executives “to discuss advancements that could benefit the next generation of armored SUVs.”
In November 2023 GM won a ten-year, $300 million contract to deliver the next generation Heavy-Duty armoured Sport Utility Vehicle (HD SUV) in support of the State Department’s Diplomatic Security Service. These are basically armored Chevy Suburbans featuring a specially-designed body-on-frame chassis and suspension.
GM completed the first production vehicle in October. Steve duMont, GM Defense president, said the vehicles have “good acceleration, handled better in the turns and the heavy-duty anti-lock braking system was far superior to our aftermarket vehicles.”
In January the company said its GM Defense subsidiary is providing these next generation Suburban Shield armored vehicles to the Qatar Armed Forces as well.
“Countering evolving threats require us to constantly explore new innovations and improvements to our armored fleet of protective vehicles,” the Secret Service added in its Friday post on X.
In September, the Secret Service along with the the Homeland Security Department awarded GM a $14.8 million contract to develop the next-generation presidential limousine, which could be worth up to $40.8 million through 2029. The heavily armored presidential limousine, known as The Beast, is a custom-built Cadillac from GM. Meanwhile in October GM unveiled its latest next-generation tactical vehicle prototype, based on the Chevrolet Silverado 3500HD ZR2 truck.
It comes amid all kinds of problems for Tesla’s Cybertruck after nearly all were recalled due to potential issue where an exterior panel may detach while driving.
Last month, Tesla CEO Musk denied reports that the State Department was planning to buy $400 million of “Armored Tesla” later this year, after details about a planned purchase of “Tesla Armored Electric Vehicles” cropped up in a 2025 procurement report.
Is GM a Good Stock to Buy?
On Wall Street, GM has a Moderate Buy rating based on ten Buys, four Holds and one Sell. The average GM price target of $63.53 implies about 27% upside.
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