General Motors and Electric Vehicles

Questions and Answers

What was General Motors' expectation regarding its electric vehicle (EV) sales in comparison to Tesla by 2025?

To focus more on hybrid vehicles instead.

To absolutely catch up to Tesla. (correct)

To become the leading EV manufacturer in the world.

To maintain its current sales without significant growth.

By what percentage had GM's EV sales increased compared to the previous year through August?

90%

50%

70% (correct)

100%

What challenge has GM faced that hindered its electric vehicle production progress?

Limited market demand for electric vehicles.

High manufacturing costs for electric vehicles.

A shortage of electric car enthusiasts.

Challenges with production, software, and supply chains. (correct)

How many electric vehicles did GM sell in July and August combined?

Nearly 21,000 EVs. Signup and view all the answers

Which company remains the uncontested leader in EV sales during the second quarter according to estimates?

Tesla. Signup and view all the answers

What is the price range of GM’s expanding lineup of all-electric vehicles?

Approximately $35,000 to $300,000. Signup and view all the answers

What did GM's president of global markets claim about their growth in EV sales?

GM is outperforming the industry in terms of EV growth. Signup and view all the answers

What was GM's situation with respect to Ford's EV sales through August?

GM was almost matching Ford's sales, being just about 2,000 units away. Signup and view all the answers

How many Ultium-based EVs does GM currently offer for consumers?

8 Signup and view all the answers

What is the expected total number of Cadillac vehicles in GM's EV lineup by the end of the year?

10 Signup and view all the answers

What is the approximate selling price of GM's bespoke Celestiq?

$300,000 Signup and view all the answers

By what year does GM plan to exclusively offer all-electric vehicles?

2035 Signup and view all the answers

What is the expected percentage of overall U.S. vehicle sales accounted for by EVs by the end of the year?

10% Signup and view all the answers

What has GM spent billions of dollars developing to meet consumer demand?

Ultium-based EVs Signup and view all the answers

What is the projected unit output GM expects to achieve for EVs by the fourth quarter for profitability?

200,000 units Signup and view all the answers

Which luxury brand is part of GM's electric vehicle offerings?

Cadillac Signup and view all the answers

Study Notes

General Motors' Electric Vehicle Sales

General Motors (GM) aimed to catch up to Tesla in electric vehicle (EV) sales by 2025, but currently remains behind Tesla, Hyundai/Kia, and Ford Motor.
GM has withdrawn most of its previously announced EV targets, but believes its EV sales momentum is building due to an expanding lineup of all-electric vehicles.
The automaker's EV lineup spans a price range of roughly 35,000toover35,000 to over 35,000toover300,000.

GM's EV Sales Data

GM sold nearly 21,000 EVs in the U.S. in July and August, almost matching its full second-quarter EV sales.
EV sales through August were up about 70% compared to a year earlier.
GM's EV sales are up, but still behind Hyundai/Kia EV sales through August, and more than 20,000 units shy of Hyundai/Kia EV sales.

Competition in EV Sales

Tesla remains the leader in EV sales, with estimated sales of over 164,000 EVs during the second quarter, roughly double the sales of GM, Hyundai/Kia, and Ford combined.
Ford and Hyundai/Kia report sales monthly, while GM reports quarterly.

GM's Expanding EV Lineup

GM offers eight "Ultium-based" EVs for consumers, ranging from mainstream models to luxury models from Cadillac.
Two additional Cadillac vehicles are expected to join the lineup by year's end, bringing the total to an industry-leading 10.
GM's Ultium electric vehicle architecture and battery technologies support its expanding EV lineup.

Industry Comparison

Tesla's five vehicles range from the roughly 39,000Model3sedantothemorethan39,000 Model 3 sedan to the more than 39,000Model3sedantothemorethan100,000 Cybertruck.
Hyundai, including its Genesis luxury brand and Kia sibling, has a lineup of nine cars and crossovers ranging from about 34,000to34,000 to 34,000to80,000.

Challenges and Expectations

The pressure is on GM to sell its EVs, with billions of dollars invested in their development.
EVs remain less profitable than gas-powered models, but GM expects them to be profitable on a production basis once it reaches output of 200,000 units by the fourth quarter.
Cox Automotive expects EVs to make up roughly 10% of overall U.S. vehicle sales by the end of the year, up from 7.3% in the first quarter.

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Description

A quiz about General Motors' electric vehicle sales and production, and its competition with Tesla. Learn about the challenges faced by GM and its goals in the EV market.