The Chevrolet Display will be seen at the New York International Auto Show on April 16th, 2025.
Daniel Devries | CNBC
meanwhile Tesla It is the number one electric car manufacturer in the US, with a wide margin. General Motors On Tuesday, it secured second place and believes it has “intrinsic benefits” when it comes to EVS.
Executives at GM’s Quarterly Revenue Call on Tuesday said the company is focusing on reaching and improving the profitability of its EVs. When asked on the phone about GM’s purpose at Tesla when it faces the same uphill, GM CFO Paul Jacobson said the company’s advantage lies in the diversity of its gas and electric vehicle lineup, as EV demand fluctuates.
“There’s a lot of stuff being made about Tesla’s simplicity and its size,” Jacobson said. “And obviously, in some narrow segments, they have it, and they have achieved some good advantages. And they wear hats on them. It also makes them overexposed to a very unstable demand set.”
GM currently has 12 EVs in its lineup, while Tesla has five models. Tesla does not destroy sales on a model-by-model basis, but they put them together in groups.
Jacobson’s comments are being raised by President Donald Trump’s new tax and spending bill as carmakers face changing demand for EVs.
Sales of the new EVS for the second quarter of 2025 fell 6.3% year-on-year, showing only the third decline on record, according to the automotive industry forecast Cox Automotive.
Cox senior analyst Stephanie Valdez said it could represent the start of the rush to buy EVS before the tax credit ends, according to Cox Automotive, those sales increased 4.9% from the first quarter of 2025.
Valdez predicts new EV sales will be recorded in the third quarter of 2025, and will collapse in the fourth quarter as the EV market adapts to the “new reality” without EV tax credits.
GM CEO Mary Bala admitted that EVs are growing slower than expected, but said in a revenue call Tuesday, “The long-term future is profitable electric vehicle production, and this continues to be our north star.”
Amidst this fluctuating demand, the July 17 Barclay’s Notes stated that Tesla’s demands and foundations remain weak, and that its autonomous vehicle and Robotaki’s story is the forefront and center.
In the second quarter, Tesla reported deliveries of approximately 384,000 vehicles, a 14% decline from the previous year, and a second quarterly decline. Delivery is the closest approximation of vehicle sales reported by Tesla, but is not accurately defined in our shareholder communications.
However, Tesla remains a vast EV leader. GM’s electric vehicle sales totaled 46,300 in the quarter, more than 21,900 times the quarter. This is a relatively small portion of the Detroit automaker’s gross vehicle sales in the second quarter of 974,000.
Cox Automotive noted that GM’s 78,000 EVs will more than double that of 2024 in the first half of 2025.
In a call Tuesday, Jacobson said GM is preparing for changes in EV demand. This is because they have built up flexibility in manufacturing plants by investing in both EVs and internal combustion engines.
“The built-in flexibility to switch between EVs and ICEs and make sure they have customers is a unique advantage that we have, as we can absorb some of the costs of that manufacturing facility through ice production if EV demand decreases,” Jacobson said.
He highlighted GM’s new investments in the Spring Hill plant in Tennessee and the Fairfax plant in Kansas as examples of this diversification. Last month, GM announced that it had invested $4 billion in several American plants, and was to increase US production of both gas and electric vehicles.
GM said Tuesday that Chevrolet holds the second spot, while Cadillac is sitting fifth in the EV brand rankings.
– Lora Kolodny of CNBC contributed to this report.
