The “$60,000 Electric Junkers to Save the Planet” industry is running into trouble. Tesla sales are down and GM is running into trouble with its lineup of electric junkers. Especially since with the Bolt gone, it has no more remotely affordable EVs. And the people who can drop a year’s salary to save the planet are buying luxury brands.
GM’s U.S. dealers sold 594,233 new vehicles in the first three months of 2024 compared with 603,208 a year ago… GM sold 16,425 electric vehicles in the United States, down from 20,000 in the first quarter of 2023, a milestone that was supported by sales of the since-discontinued electric Chevrolet Bolt
“Our brands are all performing well. GM gained retail market share year-over-year with strong mix and pricing, our inventories are in good shape heading into the spring, and production and deliveries of Ultium Platform EVs are rising, led by the Cadillac LYRIQ,” said Marissa West, GM senior vice president and president of North America, in a statement. “We’re on plan.”
Let’s look at the numbers for the “plan”.
GM plans to sell 1 million electric cars by 2025. It sold less than 40,000 in 2022.
2025 is, let me do the math here, less than a year away. In the first quarter of 2024, GM sold 16,425 electric junkers.
In the first quarter of 2025, GM will need to sell 250,000 of them.
How is GM planning to get from 16,425 to 250,000 with a year to go? Don’t ask questions. It’s on plan.
The Chevy Bolt, one of the few affordable EVs ran to $26K. The Caddy Lyriq is around $60K. That’s obviously a very different income demo. GM is trying to compete in the already overcrowded luxury EV SUV market and they’re running out of trust fund babies and DEI officers with a lot of money to burn who really and truly love the planet.
Nearly all of the early adopters and people concerned about internal-combustion engines’ impact on the planet have bought electric vehicles, and now automakers are facing more skeptical mainstream buyers, Edmunds Director of Insights Ivan Drury said.
Biden and Dem states are still pushing a car ban that will leave people with no choice except to buy electric junkers. But the majority of Americans still won’t be able to afford them and still won’t be buying them from GM.
They’ll be buying Korean and Chinese.
Kia Corp.’s sales dropped 2% year over year with 179,621 vehicles delivered, marking the second-best first-quarter behind 2023’s record. With sales of the new, all-electric three-row EV9 SUV, Kia’s first-quarter EV sales were up 88% from the previous year.
GM’s leadership decided to nuke the company to push the climate change hoax. If EV mandates are actually enacted, the last of the American automotive industry will simply disappear.