Record Sales? Not Enough for GM!
So, GM had a stellar August—over 21,000 electric vehicles (EVs) sold! You’d think they’d be doing cartwheels, but no. Instead, they’re dialing back production faster than you can say ‘bummer’! In an ironic twist, they announced plans to build fewer electric vehicles, including the much-hyped Chevy Bolt EV that hasn’t even hit the streets yet. Talk about putting the brakes on excitement!
Waiting for the Discount Apocalypse
What’s behind GM’s sudden revocation of the production party invite? Well, it seems they’re bracing for what they call “irrational” EV discounts to bite the dust at the end of September. Imagine being served a delicious meal, only to find out the chef is throwing the rest of the food away just as you’re about to enjoy your first bite. That’s GM’s current vibe. Despite nearly doubling Ford’s sales, GM’s memo to employees indicated they will scale back output at their Spring Hill, Tennessee plant, resulting in a major ’uh-oh’ moment for their Cadillac EVs, the Lyriq and Vistiq.
What’s Next for GM?
With a second shift at their Fairfax Assembly plant also on hold ‘indefinitely,’ it’s hard not to feel like we’re in a game of production musical chairs—’Sorry, the Bolts can’t sit here!’ GM is confident it can still grow its market share, but with the ,500 tax credit on the chopping block come the end of the month, the excitement for EVs might come to a screeching halt. In GM’s world, the thrill of the sale might just go from electric to rather chaotic. Buckle up, folks; we’re in for a wild ride!
