Background Article: General Motors Details All-Electric Journey
Making Money on EVs Just Got Harder
After a heated market spurred higher prices for electric vehicles, competition is driving them back down as major OEMs roll out new profit strategies.
February 15, 2023
The profit forest for electric vehicles has thinned out as upward pressures squeeze margins for manufacturers.
Image: Bobit
1 min to read
How do automakers ride the electric vehicle price hikes n' slashes roller coaster to achieve a healthy profit?
Two major OEMs -- Ford and GM -- recently shared strategies to ensure their vehicles can compete in a volatile costs and pricing market being driven by Tesla's 20% price cuts.
The second generation of Ford’s EVs will be “radically simplified,” with only three body styles a handful of orderable combinations that could garner up to 1 million units each in sales, but with a smaller bill of materials and lower manufacturing costs.
GM is working to be the EV provider to the masses. It’s doubling down on Chevrolet Bolt production and feels that Chevrolet Equinox EV will be at the right price point yet with enough range and charging capability to be a daily driver.
Learn more about Ford and GM EV profit strategies on Automotive Fleet.
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