General Motors despite everything earns in the electric vehicle sector.
The automaker said its electric automobiles were “a positive variable profit” in 2024, they made more cash than GM spent on production prices such as hard work and parts.
GM does not withdraw from its EV profits as Ford, so there are probably other prices you want to succeed to achieve the complete profitability of electric vehicles, adding the load of adding meeting lines. However, the triumph of production prices marks the brands a milestone.
Despite the achievement — and overall results that topped analyst expectations for the fourth quarter — its shares fell more than 10% in trading Tuesday amid investor concern over the new Trump administration’s effect on the automotive industry.
GM has long been a leader in the transition to electric vehicles, with early deliveries, such as the Volt Chevrolet Rechargeable Hybrid and the electric battery vehicle. GM embarked on a completely electric race in 2017, a promise that leaders took place, even if EV sales attacked a tray.
It is not simple to take the merit of electric cars given the higher prices related to progression and materials. In fact, GM inherited competition still loses billions of dollars in electric cars. Ford recorded losses of $ 1. 2 billion alone in the third quarter. Ford reports its fourth quarter and full -year effects next week.
Until now, the corporate cash of the sales of electric vehicles in the US. It is Elon Musk’s Tesla, which benefited in 2020 after years of primary losses. But even Musk’s benefit has been threatened through a slowdown in industry in sales of electric vehicles by beyond the two beyond the two beyond two years.
The automotive industry continues to fight against the immediate progression of the demand of VE, under the leadership of a new cohort of buyers who are less interested in Giant and Dear Ves in which corporations in the past had to make them successful.
Last year, GM followed a dictate technique of this work quarter, flooding the domain with more EV for average customers, while its competition retired. In the end, GM was not successful in its production goal of 200,000 electric cars for the year, generating 189,000 cars fed through the battery.
The company has its production target this year higher than 300,000 electric vehicles, however, the OPR monetary director, Paul Jacobson, told Newshouings on Tuesday morning that the company would continue to respond to the adjustments in the call and the economic policy.
The automotive industry faces a lot of uncertainty under the Trump administration. The president has threatened tariffs on Canada and Mexico, which could be very costly for the sector. And when it comes to electric vehicles, Trump has floated the idea of pulling back on government incentives that have been critical for EV adoption in recent years.
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