This is despite an increasing number of competitors and new pricing pressure on high-volume segments driven by recent cuts announced by Ford and Tesla. During GM's earnings call Tuesday morning, CEO Mary Barra said the company's EV plan is solid and does not need any pricing adjustments, wit...
The price cuts are anticipated to dent the profitability of industry players. Additionally, the company has publicly acknowledged the slow pace of EV adoption and consequently has dialed back its ambitious EV production plans. The company now expects to hit an annual production capacity of 600,000...
The Detroit automaker cut the cost of the Bolt EV to a starting price of $26,595, down $5,900 from the 2022 model year. GM also reduced the price of its larger Bolt EUV by $6,300 to start at $28,195. All pricing includes a mandatory $995 destination charge. The cuts come as...
Rival automakers are on a quest to take onEV giant Tesla, which dominates the arena and has made several price cuts to vehicles this year to keep the cost of its cars competitive for consumers. Tesla, Inc. In the company's earnings call last week,Tesla CEO Elon Muskvoiced his concerns t...
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The cuts affect about a quarter of GM's North American factory work force and are the deepest since it eliminated 21 plants and 74,000 jobs over four years beginning in December 1991. Wagoner said GM plans to cut 7 percent of its salaried work force next year, bringing the total ...