GM has already encountered headwinds, leading to a walk-back on its original projection of building 400,000 EVs in North America by mid 2024. They will be lucky to produce 1/4 of that many.
Consumers are learning that man-made climate change is a hoax and sales of EVs are plummeting.
Related Article: More on the fallacy of Electric Vehicles and ‘fake’ global warming.
Mary Barra led GM will be in trouble soon. GM’s short-sightedness in not embracing hybrids will come back and haunt them. Enjoy the billions in CAFE fines that will be coming when 95% of their customers only want non-EVs and the EVs they sell pile up on the lots to rot.
Some analysts and onlookers consider it a viable option, suggesting that General Motors introduce new hybrid and plug-in hybrid (PHEV) models as a sort of stop-gap measure to bridge the way to the automaker’s all-electric future. The question then becomes this – are hybrids really a viable option for General Motors?
As it stands, the problem with launching a series of new hybrid models can really be distilled down to two main issues – cost and timing.
General Motors has not invested in hybrid or PHEV powertrains for mainstream vehicles, meaning that the company would need to dedicate substantial resources – primarily financial and human – to develop and ultimately bring hybrid and PHEV models to market in North America.
By the time GM realizes America is going to hybrids and not full EVs, the company will be headed toward bankruptcy.
“GM could license hybrid and plug-in hybrid powertrains from, say, its Chinese joint venture partner SAIC, which has developed several plug-in hybrid systems for vehicles sold in China. However, doing so would cut into profits, making this approach less attractive for the Ren Cen,” GM Authority Executive Editor Alex Luft.
GM has run into issues producing its EVs in sufficient quantities because they cannot get the expensive raw materials to produce the batteries. Tesla and the Chinese have the mineral rights all locked up.
So basically, GM is screwed.
November 30, 2023
As an update to the GM lunacy of taking their company down the 100% EV rathole – Executives with car dealerships from Massachusetts to Alabama to Wyoming sent a letter to Joe Biden this week, urging his administration to drop EV mandates and green energy requirements on the auto industry, citing a lack of interest among American consumers in EVs.
“… we are asking you to slow down your proposed regulations mandating battery electric vehicle (BEV) production and distribution,” the car dealers tell Biden:
According to the car dealers, “enthusiasm has stalled” with EVs and the number of unsold EVs sitting on dealership lots are piling up “even with deep price cuts, manufacturer incentives, and generous government incentives.”
“With each passing day, it becomes more apparent that this attempted electric vehicle mandate is unrealistic based on current and forecasted customer demand,” the car dealers write to Biden. “Already, electric vehicles are stacking up on our lots which is our best indicator of customer demand in the marketplace.”
November 29, 2023
Get Woke, Go Broke as they say. GM Chairman Mary Barra kissed up to the tree-huggers and took GM down an all-EV path that now looks likely to bankrupt GM.
–by Mark Cipolloni–
GM and Mari Barra rejected hybrid vehicles, saying the path forward was all-electric, and they instructed their design teams to spend zero time on hybrid design.
Increasingly consumers are rejecting EV’s high prices, limited range in cold weather and recharging inconvenience, and they are turning to hybrid vehicles sold by Japanese Giants Honda and Toyota.
EV demand is shrinking at an alarming rate. Those consumers who thought they were saving the world because they bought into the climate change hoax, have already bought their expensive EV.
Increasingly consumers are becoming educated on the climate change hoax, which is not man-made at all but in fact as a result of activity on the sun. Scientists not feeding from the government money trough have come out and said climate change is not man-made and pointed out that scientists who say it is, come up with fudged data to support the globalist lie so their funding continues.
Related Article: Automotive: Companies losing billions on blind EV push
Related Article: Hole in the ozone layer is closing, will climate change cease?
Despite all the warnings that an all-EV business model was a receipt for disaster, GM Chairman Mary Barra and President Mark Reuss insisted that the Japanese were wrong with their hybrid push and stayed on the all-electric path.
Now they are in trouble – years of hybrid design lost.
They got woke and now GM may go broke.
Related article: Tree-hugger green energy is neither green nor energy – Epstein
Used EVs spend longer on dealership lots despite rapidly dropping prices, indicating increased consumer rejection.
iSeeCars found that there is a downward spiral of EV sales, both new and used. Used EV prices have fallen 33.7% year-over-year, with an average unit price of $34,994, while the used car market as a whole only dropped 5.1% year-over-year. Notably, the average used EV price in 2022 was $52,821.
Related article: Ford abruptly halts work on EV Battery Plant
“This combination of lower prices and slower sales suggests EVs have hit a market demand threshold that will be difficult to break through. Everything from economic concerns to growing competition among electric vehicles is contributing to their downward trend,” said Karl Brauer, iSeeCars executive analyst.
“It took years for the car-buying public to understand and appreciate the benefits of hybrid technology,” said Brauer. “But enough people have figured it out that hybrids now sell faster than the average new car, and much faster than new EVs.”
Ironically, GM has signed up with the FIA to produce hybrid Formula 1 engines for the Andretti-Global F1 team.
Perhaps they finally got hybrid-religion, but is it too late to save them from upcoming financial ruin as their upcoming all-EV sales trend toward zero?