I think that these results are impressive for GM considering that their previous high-volume vehicle was discontinued. LYRIQ is now the 2nd-best selling Cadillac, 1/3 of Chevrolet Blazer sales are the electric version, plus the HUMMER had solid results as well. Silverado and Equinox EV should hopefully ramp more in Q3 and Q4. Thanks for covering this, Viking! GM had a good result here.
@@rogermckenzie2711 I own a 2023 Bolt EUV. I traded in my 2019 Bolt early to get a new one while I could. They are great little cars. I worked 30 years in supplier auto plants. The term 'all new' is greatly abused. I would expect GM to reuse as much tooling as they can and I'm fine with that. Keeps cost down, improves initial quality.
They sold 696.086 cars in Q2, 22.000 of them were EVs. They are doing fine, what's dying is the government forced EV push. Reason EVs are sucessful in China is because they made it almost impossible to register an ICE car in many cities, so people have no other choice if they want a car. They won't get through with such mandates in the West.
EV market share in US is about 8%. That means 92% of sales are gas cars and the sales by the OEMs quite good. Overall the revenue of profits for all cars from OEMs are quite good. So much for very sad.
Just bought a Lyriq lux 3, Wow, Quality upon Quality, Class. Smooth ride. Premium materials. Got tired of waiting on model Y refresh, Lyriq everytime I look at it, wow. nice. Comfort. Did not have to inspect the car or be Teslas quality control dept for them. Sad tesla does not believe in quality, "ITS IN SPEC" basically screw off, we are not going to fix it.
@JaceTran got super chargers all over the place and in a month or so all tesla chargers too. Had no dealer issues. And it's worth more like 35k in quality and options tesla either does not offer or is extra. Like I said it'd beautiful inside and out. Do not have to spend extra 4k to protect tesla cheap paint. Do not have to spend 2500 for the color I want. Do not have to spend 2000 for the interior I want. Do not have to spend 2500 for the tires I want. Do not have to spend 3k so I do not feel every rock in the road. And it also qualifies for the 7500 rebate. I can go on and on. No regrets.
@@kennytinker24 glad to see how happy you are. I am a fan of GM, too, and I had several Chevy and Cadillac. Really love my Chevy Impala before. But in terms of EV, GM is not very competetive, which I feel sad.
My neighbor owns a Chevy Bolt. It looks like a nice little car. I'd be tempted to buy one if I wasn't afraid its batteries would cause it to burn up in my driveway.
Time to bring back the US Chrysler Desoto's of the late 1950's, early 1960's with huge, cool fins but as nostalgic EV's! Don’t know Desoto? Do a quick picture search. :-)
Math trick stat! Doubling your production from 100 thousand to 200 thousand is still less production than an increase of 1 million to 1.5 million in percentage.
Blazer EV build quality is so great ride is smooth heads up display with bird’s eye view on backup. Excellent battery range software still needs work but remote updates do help .
Volume is far below what’s needed to have economy of scale-to make enough $$ per car and sell enough cars, invest in R&D and other CapEx, and keep competitive advantage. Even with a complete ban on the Chinese EVs (made in China or Mexico), GM can’t compete with California made Tesla.
The EV fleet in the US is growing as EVs are lasting longer than ICE cars before being junked. As the EV fleet grows and used EV prices fall more and more car buyers will consider and switch to EVs as the prices are too good to deny. This will greatly expand EV penetration as price now is the biggest barrier to EV adoption.
The title is non sense. In the second quarter of 2024, General Motors (GM) sold 21,930 electric vehicles (EVs) in the United States They lose money on each sale. The Silverado at 2196 units per quarter is an indication GM is slow walking theses trucks because they lose a lot of money on each of these big battery trucks. If you have to tow get one while GM is still giving away over $100k with each sale.
Outside North America nobody is buying EVs with NACS. CCS2 with contactless payment, up to 22kw three phase kw home charging and a free market for charging is the future. In the US you have a monopoly or at best oligopoly situation where you have to use silly things like apps and accounts. Outside the US anyone can set up an EV charging network. That will lead to price competition with plenty of choice. Paying for charging should be like you pay for just about every low value purchase nowadays, contactless. That is how we buy petrol by the way. NACS is extremely unhealthy havingthe charging market dominated by one or a few companies that also happen to make the cars. It would be banned as uncompetitive in many countries. It is rather akin to having to go to a Ford garage to buy Ford petrol because you happen to have a Ford car. That is just rdiculous. That is why CCS2 with contactless payment is the future just about anywhere outside North America.
By the time TH gets their act together,the Chinese cars will be here along with the Koreans and Tesla.It's only a matter of time before the get bailed out again
The cars are great the charging is a little slow but nothing insane. GM prioritizes battery longevity, faster the charge the shorter the battery total life.
Buffet probably has metrics that conform with Benjamin Graham’s method of investing, which he espouses. It has to do with earnings per share. I think the U.S. automakers are doing well if they can sell 2,000 pick-ups in a quarter at $100k a piece. That’s $200m. Likely U.S. automakers will focus on trucks, as this is where customer demand is strongest. They’ll also have SUV segments as well as the basic runabout. Just a guess, I think U.S. automakers will be seeking to adjust to demand by offering an ICE, Hybrid and EV version of the same model, by swapping out internal combustion for a battery pack and electrical motor. You won’t be able to sell an EV in North America, unless it strongly resembles their ICE forbears in appearance. Some of the EV creations have an accompanying combustion engine noise to go with it!(Dodge Charger)
