Some OEMs are winning some are losing, as is always the case. And the current interest rate environment and global slowdown is generally making things tighter.

Hyundai Motor Group just announced record profits and continuation of their EV plans. Volvo is on track with their EV transition plans including profitability. Tesla still is one of the most if not the most outright profitable OEMs worldwide. BMW’s EV sales growth is leaps and bounds more than their overall company growth, which seems to be more than fine. And BYD and other EV-focused/exclusive Chinese OEMs seem to be growing just fine as well (although reliable news sources on them in the West is scarce).

Meanwhile, Ford and GM are dealing with strikes in the US and their dealers continuing to markup their EVs to make them plain not competitive for the median consumer vs ICE analogues, and they can’t afford to compete on price with Tesla. Outside the US, they have limited production and models for what usually sells in Europe and China - not too many F150s, Hummers, Silverados, etc there - and their non truck/giant SUV models are middling compared to the competition. Stellantis seems to be scrambling to generate an EV plan while catching up to their home market’s EV mandates - they just bought a big stake in a Chinese OEM to import their EV tech - and seem to be struggling with a lot of the same issues as GM/Ford. Renault-Nissan pissed away their lead with the Leaf and are also importing platforms from China to try to catch up.

BEV sales are still growing worldwide and are the only consistent growth area in the overall auto market. Some companies have a more mature and well-thought-out strategy for the EV transition than others and/or a lack of baggage from their ICE footprint or labor force to deal with. All industries that go through a technological shakeup deal with a messy period like this. It’s not going to be predictable or easy for all.