Thursday, July 25, 2024

Several car brands regret – dropping 100,000 electric cars

The car group General Motors already believes that it will take decades to switch to electric cars. Now they are significantly reducing the 2024 targets.

General Motors is now reacting to the lower demand for electric cars and reducing production targets for 2024.

Across the brands, 100,000 fewer electric cars must now be built than GM – which includes the brands: Chevrolet, Buick, Cadillac and GMC – had anticipated.

AOL.com writes that.

It is GM's financial director Paul Jacobson who says that the car group had previously expected to build 300,000 electric cars this year. That figure is now reduced to 200,000 pieces.

READ ALSO: Nils has promised he will never drive far in an electric car again

The downsizing is happening because the market for electric cars is growing more slowly than what GM had anticipated. But now the financial director also believes that the 'market's momentum' has been hit.

And although the group is now lowering its expectations for the electric car – and sales of the car type – it is still believed that there is a profit to be made in the 200,000 new electric cars that may – or may not – hit the roads this year.

Back in April, General Motors saw sales of a single electric car model increase by as much as 83,000 percent. However, the story behind the crazy number is somewhat less impressive. Read more about it here.

Something else is that General Motors intends to make a European comeback. But in that case it will only be with electric cars.

The American group has not been to our latitudes since Opel was sold in March 2017 to what was then called Peugeot-Citroën for 2.2 billion dollars. Until then, Opel had been part of the American group since 1931.

Read more exciting news from and about the world of cars right here!

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