Written by Cláudio Afonso | LinkedIn | X
General Motors (GM) announced on Tuesday it is reducing its projected sales of electric vehicles (EVs) for the year, citing slower-than-expected adoption of EVs in the U.S. market.
The group has been offering various incentives and rebates on its EVs to boost sales. For June 2024, the company has announced rebates up to $7,500 on certain models like the Cadillac Lyriq Electric, alongside attractive financing deals across its EV lineup.
According to CFO Paul Jacobson, the company now anticipates selling between 100,000 and 150,000 EVs in 2024, down from an earlier forecast of 200,000 to 300,000 units.
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“So at the lower end of that, and I think it reflects the momentum that we have in the business,” Jacobson said Tuesday during a Deutsche Bank investor event on Tuesday.
GM’s key upcoming releases include the 2024 Chevy Equinox EV, which is set to hit the market this fall at a starting price of around $30,000 .
In recent developments, GM has introduced several high-volume electric models, such as the Chevy Silverado EV, Chevy Blazer EV, besides the upcoming Equinox EV.
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Written by Cláudio Afonso | LinkedIn | X
