Tag: General Motors Co.

Elon Musk-led Tesla Zeroes in on Everyday Buyers After Winning Over Electric Vehicle Lovers
31Dec By adminNo Comments
Technology

Elon Musk-led Tesla Zeroes in on Everyday Buyers After Winning Over Electric Vehicle Lovers

[ad_1] Tesla Inc. is expected to say on Tuesday it had another record delivery year in 2023, in large part due to die-hard Elon Musk fans and tech-savvy early adopters. Now the company is working to widen its appeal. The Austin-based electric vehicle (EV) maker is estimated to have handed over almost 483,200 vehicles in the fourth quarter, according to analysts surveyed by Bloomberg. That means Tesla probably exceeded its goal to deliver 1.8 million cars last year, an all-time high for the company but just a fraction of what Toyota Motor Corp. or General Motors Co. normally sell.For its next phase of growth, Tesla has to win over everyday buyers, who primarily select vehicles based on price and ease of use. “When you look at car buying in general, we're trying get to the next set of EV ...
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Volkswagen, GM, Ford are being forced to reduce output or delay new electric vehicle models
29Nov By adminNo Comments
Technology

Volkswagen, GM, Ford are being forced to reduce output or delay new electric vehicle models

[ad_1] Bayerische Motoren Werke AG Chief Executive Officer Oliver Zipse was incredulous when asked this month whether the German premium carmaker would respond to a brutal price war in electric vehicles by cutting production. “Do I understand you right that you try to slow us down? Two years ago, it was the other way around,” he told analysts, triggering wry laughter.  Carmakers not called Tesla Inc. have spent the past decade being cajoled by governments, capital markets and journalists like me to speed up the transition to electric vehicles — and for good reason, because the planet is overheating. Now that EV sales aren't growing as fast as anticipated, Volkswagen AG, General Motors Co. and Ford Motor Co. are being forced to either reduce  EV output or delay new models and factories. ...
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A two-speed electric car market is heading for a crash
30Oct By adminNo Comments
Technology

A two-speed electric car market is heading for a crash

[ad_1] The world's auto industry is accelerating in two directions at once. Unless those contradictions are resolved, carmakers risk running themselves off the road.In China and Europe, the transition to electric vehicles is gathering pace. Battery-powered autos made up nearly a quarter of sales in both markets in August, according to Morgan Stanley, with plug-in hybrids lifting the total share to 38% and 28%, respectively. Things look very different in the US and India, where penetration is struggling to break north of 10%, and in Japan, where it's on life support at 3%. Honda Motor Co. said last week it was dropping plans to build a sub-$30,000 EV with General Motors Co., while GM and Ford Motor Co. and have pushed back targets for boosting sales of battery vehicles. Even Elon Musk ha...
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Tesla, EV investors face a reckoning
28Oct By adminNo Comments
Technology

Tesla, EV investors face a reckoning

[ad_1] The electric-vehicle boom that spawned multibillion dollar startups overnight and pushed Tesla Inc.'s value into the stratosphere is starting to flounder just a few years after it began.A key theme from this earnings season is the waning demand for electric cars. First was Tesla's grim earnings report last week, that was followed by dour commentary from General Motors Co., Mercedes-Benz Group AG, Honda Motor Co. and car-rental company Hertz Global Holdings Inc.  The shift has been sobering for investors, as the valuations of most EV stocks assume a rapid industry expansion. Should that fail to materialize, share prices will likely unwind and many startups won't be able to rely on the capital markets to fund their unprofitable ventures. “People were always too aggressive on EV ado...
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