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GM Delay The Production Of Chevrolet Equinox EV, Silverado EV And GMC Sierra EV
For fans of the Chevrolet Equinox EV, the Silverado EV, or the GMC Sierra EV, we have some bad news. GM has chosen to delay the production of the three models for “just a few months”, in order to “protect pricing” and “enhance viability”.
According to GM CEO Mary Barra, the delay will somehow “make the trucks more efficient and less expensive to produce, and therefore more profitable” in the future. So it’s not “protecting pricing” to offer you better prices, it’s “protecting pricing” to increase its profit margins.
GM is also becoming less optimistic about projected sales numbers for EVs for the following few years, in response to what is apparently slower-than-expected demand growth. The company now says it will sell 400,000 EVs in North America for the period starting in 2022 and ending in mid-2024 and will produce a grand total of 100,000 EVs through the end of this year. It still plans on making a total of 1 million EVs by the end of 2025. After 2035, GM wants to only sell EVs in the US.
Despite the delays, GM beat Wall Street’s expectations for its third quarter, raking in $44.13 billion in revenue versus the $43.68 billion that was estimated. The earnings were announced as the automaker continues to negotiate with the United Auto Workers to end its strike, which is now in its sixth week. GM said the strike was costing it roughly $200 million a week in lost vehicle production.
