I thought everyone was cheering “you did it Mary !” Mary didn’t do it ?
No shit. We know and we don’t care that GM is unhappy. This is like a dumpster on fire rolling downhill.
“Our strong ICE business that frankly has gotten stronger, and we still believe there’s growth there,” Barra said.
This is all you really need to know about GM.
Mary Led remember???
GM is fucked. First it’s the all of the defective Volts with the Shift to Park defect which there is NO fix for. Then the Battery issue with the Bolts. GM is being sued buy customers and having to give customers FULL purchase price refunds plus attorney’s fees which is about $300k per car.
And due to that they will do a $10B share buyback, that certainly will help its EV business
And tellingly, Barra also managed to slip in some praise for the company’s internal combustion engine vehicles, which continue to generate profits for the company at a time when costs are rising across the board. “Our strong ICE business that frankly has gotten stronger, and we still believe there’s growth there,” Barra said.
Sigh. If only GM had actually stuck with the Voltec hybrid powertrain and pushed it forward. 🤦♂️
It’s truly is exasperating to think how much R&D went into perfecting that system only for GM to throw it all in the trash. The fact Toyota of all companies is doing a better job selling the concept of the Volt with the Prius and Rav4 Prime trims is just rubbing salt in the wound.
The important takeaway:
“Barra said that while EV growth has slowed, demand is still heading in the right direction, noting that US car buyers were on track to purchase 1 million EVs this year for the first time.
“There’s really no reason that EV demand won’t be higher in the years ahead,” she said. “Consideration is rising, the policy environment is favorable. The public charging infrastructure is growing and customer choice is expanding.”