GM Now “Variable Profit Positive” on EVs

[JeffKeryk]

Without government loans, if I remember correctly, Tesla may not exist
All good just discussing!
I just don’t understand why you keep bringing that up. The fact of the matter is both company survived and big companies all over this country survive in the same way.

If you really think about it, the company that survives was the smartest of them all using the system to their advantage. Just about like any American does.

Sure. Tesla repaid a $465 million loan from the US Department of Energy in 2013, nine years ahead of schedule.
Beyond that, I am not sure Tesla would be around without Toyota's early investment and the sweetheart deals Fremont gave Toyota to choose the shuttered NUMMI plant after Toyota and GM failed.

I bring it up because many companies,including GM, might not be profitable or even around without taxpayer support.

 

[SupremePossum]

Good for GM, Ford better make better products then abortions like the Mach-E.

I'm offended

We love our Mach-E

 

[alarmguy]

Sure. Tesla repaid a $465 million loan from the US Department of Energy in 2013, nine years ahead of schedule.
…

it doesn’t matter. The piggy bank was the US government, and we don’t know if Tesla would be here today.
Just because they paid the loan off ahead of time means nothing.
The same as when I purchased my first house or business. Without the loan it wouldn’t exist and I paid them both back ahead of time.

It’s all good. I’m just making a statement that when government offers things people take it.
Look at your own home, they paid for most of your solar system, and you get reimbursed at a rate that people with far less means to pay thier bills than you.

Almost every American, who could took up to $11,000 in government money during Covid.

However, my only point was you always mention GM might not exist. Well, they also might have existed and may have been better off because most of their union labor force would’ve lost their jobs back then. If they survived on their own then maybe they would’ve had non-union work is like Tesla.
Don’t forget those tens of thousands of workers are also paying state and federal income taxes as well as Social Security.

The above is just an example. All good.

 

[ME_Andy]

So GM is actually the only individual stock I own right now. Bought them after earnings. They're a strong #2 in US EV's and that's not ready to change. It's likely the USA will have more EV growth than any other country in the next few years.

The Chinese division is struggling but I think that's water under the bridge.

 

[JeffKeryk]

So GM is actually the only individual stock I own right now. Bought them after earnings. They're a strong #2 in US EV's and that's not ready to change. It's likely the USA will have more EV growth than any other country in the next few years.

The Chinese division is struggling but I think that's water under the bridge.

Yep. For just about every car company.

 

[Trav]

So GM is actually the only individual stock I own right now. Bought them after earnings. They're a strong #2 in US EV's and that's not ready to change. It's likely the USA will have more EV growth than any other country in the next few years.

The Chinese division is struggling but I think that's water under the bridge.

I bought BYD stock (BYDDF and BYDDY) a year ago and it has doubled, now with them bringing out a sub 30K EV with free FSD software in Europe, once they get into the USA it spells huge problems for other companies. BYD blade batteries remove a lot of fear about battery life and safety. The BYD HAN seems like a lot of value for the money.

https://www.greencarreports.com/new...rrives-in-china-tesla-model-s-sized-about-40k

 

[97prizm]

Start up cwithout the billions in offset credits they nies always lose money until business ramps up sufficiently or they go belly up.
Tesla got a huge influx of cash from Toyota in their early years. Without which, chances they never would have made it past their first 5 years. The joint effort resulted in the RAV4 EV; my neighbors had one. Toyota sold their investment stock and got out; kinda missed the boat, right?

All the EV business has problems. I wonder when GM will make a profit on their EV business? CEO Barra has said soon...
Of course Tesla's problems go beyond their actual products... Look at what has been happening to sales and stock.

Musk and financial analysts said without the carbon offset credits they definitely would have gone belly up. If they did it's difficult to know if they would have been bought up or disappeared.

 

[JeffKeryk]

I bought BYD stock (BYDDF and BYDDY) a year ago and it has doubled, now with them bringing out a sub 30K EV with free FSD software in Europe, once they get into the USA it spells huge problems for other companies. BYD blade batteries remove a lot of fear about battery life and safety. The BYD HAN seems like a lot of value for the money.

https://www.greencarreports.com/new...rrives-in-china-tesla-model-s-sized-about-40k

Yep. Already a big problem for other car companies, given their losses in the huge China market alone.

 

[alarmguy]

I bought BYD stock (BYDDF and BYDDY) a year ago and it has doubled, now with them bringing out a sub 30K EV with free FSD software in Europe, once they get into the USA it spells huge problems for other companies. BYD blade batteries remove a lot of fear about battery life and safety. The BYD HAN seems like a lot of value for the money.

https://www.greencarreports.com/new...rrives-in-china-tesla-model-s-sized-about-40k

Nice. I have thought about that stock for sometime, never did anything about it though.

 

[dogememe]

So GM is actually the only individual stock I own right now. Bought them after earnings. They're a strong #2 in US EV's and that's not ready to change. It's likely the USA will have more EV growth than any other country in the next few years.

The Chinese division is struggling but I think that's water under the bridge.

I think GM is doing really well with EVs. I don't see many Prologues around here, although I do definitely see some, but I've seen lots of Equinox EVs recently. Blazer EVs are pretty common sights. If I add up Hummer EVs (seen a couple), Silverado EVs (seen many), and Sierra EVs (seen one, mmm, gorgeous, I want), I see about as many of those as I see Cybertrucks. Lyriqs are out there, too, and someone down the street just got an Escalade IQ - gorgeous but I want the Sierra EV more. For business/fleet they're even making progress. PG&E and Caltrans have Silverado EVs around here. Their BrightDrop electric delivery vans are popular with FedEx, I've seen a few.

And as per the other thread I just made, GM is continually improving their EVs. For 2025 model year as far as I can tell all Ultium vehicles got updated front drive units that put out more power, use energy more efficiently for a range bump, and are likely cheaper/easier to make in some way. And they're working on LFP for Ultium, I think the Ultium Bolt will be the first vehicle to be Ultium LFP?

Overall I think GM has the most compelling EV lineup in the industry. When the Ultium Bolt is out, they will truly have EVs in EVERY segment across all price points from sub-$30K to over-$100K. American consumers want choices and GM is giving them that.

They have a ways to go in terms of customer experience and tech... they need to overhaul the myChevy app and HondaLink by OnStar for the Prologue is a worthless turd. Some nice to have features like being able to use the built-in cameras as dashcams like you can with Teslacam would be AWESOME. And, from what I've heard, the dealers kinda hate selling and servicing EVs. But, as it is now, if an EV would fit your lifestyle, GM probably makes one that would fit your needs.

I like Teslas and people seem to love the refreshed Model 3 (and refreshed Model Y is launching) but the S and X are stale at this point, and the S/3/X/Y kinda all look the same, and Cybertruck is, well, the Cybertruck, opinions vary, but Tesla doesn't really give you many choices.