After beating top and bottom line estimates in the second quarter, General Motors (GM) raised FY guidance for 2024. With “encouraging” early sales results in Q2, GM is preparing “to unleash the next cycle of EV growth.” This includes scaling Chevy Equinox EV production while launching new GMC and Cadillac EVs.
Expand Expanding Close
“America’s most affordable 315+ mile range EV” is getting even cheaper. Chevy’s new all-electric Equinox is already due for its next model year. The Chevy Equinox EV is getting slightly more power, along with the promised $35,000 variant arriving in 2025.
Expand Expanding Close
GM broke Q2 and first-half EV sales records with new models like the Chevy Blazer and Equinox EVs hitting the market. However, GM’s new electric cars were not the only ones driving growth, as sales of the Cadillac Lyriq and GMC Hummer EVs also surged.
Expand Expanding Close
General Motors does not expect to build as many electric cars as initially planned this year. On Tuesday, CFO Paul Jacobson announced GM aims to build 200K to 250K EVs in 2024, down from its previous target of 200K to 300K, citing slower-than-expected EV demand in the US.
Expand Expanding Close
American automakers Ford and GM do not agree on where hybrids will be in the future. Ford’s CEO says hybrids should stop being talked about as “transitional,” while GM’s leader claims the tech is “not the end game” as it’s not zero-emission.
Expand Expanding Close
As the race to launch low-cost electric models heats up, GM believes it has the answer. GM’s new North American president said the upcoming next-gen Chevy Bolt EV will be “the most affordable vehicle on the market by 2025.”
Expand Expanding Close
GM had its fair share of EV hurdles last year, leading to disappointing sales. However, CEO Mary Barra says those bottlenecks are a thing of the past as new models like the Chevy Equinox, Blazer, and Silverado EVs hit the market.
Expand Expanding Close
An affordable Chevy Camaro EV? That could become a reality. GM President Mark Reuss says the Camaro needs to be revived as a real pony car, hinting it could start at $35,000, similar to the new Equinox EV.
Expand Expanding Close
Chevy Malibu production will end later this year as GM prepares to launch new EVs, including the highly anticipated new Bolt EV.
Expand Expanding Close
Chevy is offering a $4,000 discount for owners and lessees of Teslas and other EVs for the 2024 Blazer EV but with some quirky conditions.
Expand Expanding Close
After losing EV market share in the US in the first three months of 2024, GM believes it can turn things around. GM expects new models like the Chevy Equinox EV and improved battery production will help regain EV market share in the second half of the year.
Expand Expanding Close
Amid an intense price war and lost market share to BYD and Tesla, China’s state-owned automaker SAIC Motor is reportedly making drastic job cuts this year at its joint ventures with General Motors and Volkswagen and at its EV unit – with mass layoffs a rare move for a China-owned company.
Expand Expanding Close
General Motors (GM) is reportedly in talks with battery giant CATL to license its cheaper LFP battery tech. The plans could include a new joint North American plant to produce the new batteries.
Expand Expanding Close
General Motors (GM) looks to get back on track this year as executives believe EV “production hell” is behind it. After missing EV sales targets for the past two years, will 2024 be the year of execution, as GM says it will?
Expand Expanding Close
The Chevy Blazer EV stop-sale finally ended Friday after almost three months. With drastically lower starting prices, the Blazer EV now starts at just over $50,000 and qualifies for the full $7,500 federal tax credit.
Expand Expanding Close
The next-gen Chevy Bolt EV is due out next year after GM ended production of its top-selling electric model at the end of 2023. GM’s CFO Paul Jacobson says the new Bolt EV will save the company billions by becoming North America’s first Ultium-based model to use LFP batteries.
Expand Expanding Close
General Motors is banking that Europeans will want an American-made $93,000 SUV that has zero emissions – but the US brand has had plenty of trouble getting production off the ground on its home turf.
If you were waiting on an electric GM truck similar in size to the Ford Maverick, you may be out of luck. GM is reportedly canceling plans to develop a compact electric pickup amid its shift toward plug-in hybrids (PHEVs).
Expand Expanding Close
Those looking to get their hands on GM’s highly anticipated Chevy Blazer EV may have to wait even longer. Sales of the new Chevy Blazer EV are still paused as GM looks to overcome software glitches setting the automaker back.
Expand Expanding Close
As GM looks to deliver on its promise of EVs for everyone, the automaker is recruiting talent from the best. GM announced Thursday that it has hired Kurt Kelty, former Tesla executive and recognized battery expert, as it aims to launch low-cost EVs.
Expand Expanding Close
Despite a truly terrible year for GM that involved plants being shut down for weeks due to a union strike, Bolt battery recalls, EV production problems, and the nightmare that keeps on giving that is Cruise, General Motors says it should tally up nearly $10 billion for 2023 – but we certainly don’t owe that to stellar EV sales.
Expand Expanding Close
Lovers of sleek, luxurious, and insanely expensive cars, you’ve now got an American-made EV equivalent in the form of Cadillac Celestiq. General Motors just announced that it has finally started production at its factory in Michigan, but only in very limited numbers, of course. Here’s what that eye-watering starting price of $340,000 will buy you.
Expand Expanding Close
GM’s joint venture in China, SAIC-GM, delivered over 100,000 EVs in 2023, more than doubling from the previous year.
Expand Expanding Close
GM is offering a $7,500 incentive for EVs that lost eligibility for the EV tax credit. This comes after several GM electric models were excluded, starting this week.
Expand Expanding Close