Gm guidance on evs has been terrible. They set many goals and have yet to achieve many.
I do trust some of their ICE targets, as that is their bread and butter.
Yes this been terrible and so has every other car manufacturer on EVs. Actually the worst has been some of Tesla's own statements. Stating they need to keep growing 50% per year, but.... they are not, how about 26%.
Agree Ice is GM bread and butter and thank god its not too late and they have now realized that. Amazing how big corporations get caught up in the media fantasy along with the rest of the country.
Only time will tell what the EV threshold is and to me anyway, it's great that they are selling vehicles almost as fast as they can make them. This to me has always been the huge advantage. While the
USA was going off (including GM) on how EVs were going to take over the future, one thing happened. The consumer isnt quite in agreement on the EV subject.
If things arent bad enough in the EV sector, just think, really think where the EV industry would be if it wasnt for giving away $7,500 per vehicle. That is going to ultimately play into the hands of GM too as it expects and has the money to qualify a lot of their EV car models by 2025. They are turning out profits by the boatload and have the money to sink into whatever share of the EV market they want.
Im not saying EVs are dead, they will co-exist with ICE vehicles, as I said for years in here? They are just cars.
Full disclosure, I have a significant (for me) short term holding in GM, I couldn't pass it up at $29 and change. GM 4 times earnings, Tesla 70 times earnings. The math was simple to me for the short term. I guess I will see if I am right, I am not making predictions, just the reason for the short term trade. For me personally I bought the stock approx. 6 weeks ago and have a 10% unrealized return on my money.
I could sell today, next week, next month or next year whenever I think the short term return on the money starts to look risky to me. Generally the automotive industry is a cycle just like any industry. I cant help feel this might be short lived cycle if the economy continues to slow but I know nothing and try my best to go with the flow and not lose money.
