GM trims 2024 EV forecast amid slower-than-expected demand
Publishing timestamp: 2024-06-11 13:48:34
Summary
GM is reducing its expected sales and production of all-electric vehicles in 2024 due to slower U.S. adoption of EVs. The company now expects to produce 200,000 to 250,000 EVs, down from the previously announced range of 200,000 to 300,000. GM's CFO also mentioned that the company expects its EVs to be profitable once production reaches 200,000 units. Additionally, GM announced a new $6 billion stock repurchase authorization.
Sentiment: NEUTRAL
Tickers: GM,
Keywords: detroit, autos, united states, general motors co, business news, breaking news: business, business, transportation, paul jacobson,