Connect with us

Hi, what are you looking for?


GM Delays Production of Electric Vehicles to Protect Pricing

GM 2023

General Motors (GM) recently announced a delay in the production of its electric vehicles, including the Equinox EV, Silverado EV, and GMC Sierra EV. The decision comes as GM seeks to “protect” its pricing strategy while adapting to evolving electric vehicle (EV) demand. The company did not specify a precise timeline for when production would resume but indicated that the delay would be for “a few months.”

GM’s CEO, Mary Barra, explained that the company is moderating the acceleration of EV production in North America to align with slower near-term growth in demand. Simultaneously, GM is working on engineering improvements to make its EVs more cost-effective and profitable in the long run. This approach aims to maintain pricing while enhancing the overall value of its electric vehicles.

The United Auto Workers strike, which began in September, has introduced uncertainty regarding labor costs and may have contributed to GM’s production adjustments. GM has also withdrawn its full-year financial guidance, pending the signing of new union contracts.

GM’s decision to delay EV production underscores the complexities of balancing demand, pricing, and production efficiency in the rapidly evolving electric vehicle market.

You May Also Like


Introduction California, known for its stunning beaches, vibrant cities, and diverse culture, is also a haven for food lovers. With its diverse population and...


In September 2021, renowned motivational speaker and consultant Tony Robbins, in collaboration with scientist and XPRIZE Foundation chairman Peter Diamandis and CEO Dugal Bain-Kim,...


The Importance of Forensic Accounting Corporate governance is a crucial aspect of any organization, ensuring transparency, accountability, and ethical practices. In recent years, there...


This achievement made Iddris Sandu, the founder of Spatial Labs, the youngest black entrepreneur to raise a double-digit seed round. Marcy Venture Partners, co-founded...