Posted on 06/12/2024 6:23:47 AM PDT by george76
General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected.
GM Chief Financial Officer Paul Jacobson said the company now expects production of 200,000 to 250,000 EVs this year, down from a previously announced range of 200,000 to 300,000.
...
Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year. That’s lower than many other auto analyst forecasts, which expect EVs to represent around 10% of industry sales in 2024.
(Excerpt) Read more at cnbc.com ...
Expect more reductions, since those who had a psychological need to buy an EV already have them.
Unexpected.
Is the business world signaling an expectation of Trump taking in the WH? Maybe the carmakers are doing less tooling up to produce EV’s in part because there’s lower demand, and in part because they expect less government EV coercion.
ya think?
In boardrooms of Ford, GM and Chrysler:
“Let’s Go Brandon!”
“Let’s Go Brandon”
“Let’s Go Brandon”
General Motors, Ford, and .. losing tons of money on EVs.
Serves them right for being the fascists that they are.
The woke bean counters / not engineers are killing many businesses.
They would be wise to trim it down to nothing. How many have burned up already?
“... because there’s lower demand, and in part because they expect less government EV coercion.”
I firmly believe that FedGov has been threatening the auto makers with all sorts of nastiness to force them to build EVs. As you suggest those auto makers are betting that those threats will evaporate next January and the car makers can get back to making products that customers actually want.
Market share may grow from 7% to 8% but that’s not much in numerical terms. The EV boosters will cheer it on as a 14% growth rate though. 10% market share is wildly optimistic.
“Slower than expected demand?”
Only an “expert” could make such a stupid and uninformed statement.
“auto makers are betting that those threats will evaporate next January and the car makers can get back to making products that customers actually want”
This reminds of a variation of the old Soviet quote...
They pretend to make cars and we pretend to buy them.
;-)
Not the Bean Counters but the elected mob in Washington.
The mob knows nothing about beans or the dreaded, “Climate Change!”
SO, They mandate EVs and then blame the Manufacturers for poor sales.
I will never buy an EV.
I was a part owner of a golf cart but that was short term and only used on an airport property. I don’t count that.....
Not the Bean Counters but the elected mob in Washington.
The mob knows nothing about beans or the dreaded, “Climate Change!”
SO, They mandate EVs and then blame the Manufacturers for poor sales.
I will never buy an EV.
I was a part owner of a golf cart but that was short term and only used on an airport property. I don’t count that.....
Please excuse my double.
EV’s are not on a continuous upward curve. People who want them have already got them.
The unwritten story is that many car dealers won’t take EVs as trade-ins.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.