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GM electric vehicles still not profitable, company sees 'progress'

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General Motors told its shareholders Tuesday that its electric vehicles program is not yet profitable, but it making 'progress.'

General Motors says its electric vehicles are still not profitable, but that the company is seeing "progress" in the industry. GM made the announcement in a letter to shareholders detailing the company's performance in the third fiscal quarter. "In the third quarter, we grew U.S. retail market share with above-average pricing, well-managed inventories and below-average incentives. In China, sales improved from the second quarter, and dealer inventory fell sharply.

GM PAUSES SALES OF NEW LINE OF TRUCKS OVER SOFTWARE ISSUE The company recalled roughly 450,000 trucks and SUVs in late September over brake issues. The recall includes some 2023 Chevrolet Silverado 1500, GMC Sierra 1500, 2023 and 2024 Chevrolet Tahoe, Suburban, GMC Yukon, Yukon XL, Cadillac Escalade and Escalade ESV models. The electronic brake control module software on impacted vehicles may fail to display a warning light when a loss of brake fluid occurs, the NHTSA said.

 

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