Business Maverick: Selling a Truck to Detroit’s Loyal Owners May Be Tesla’s Toughest Challenge Yet

GM CEO Mary Barra told investors at an event in New York on Thursday her company’s first electric pickup will debut in showrooms in late 2021, and it will have a leg up on the competition. “General Motors understands truck buyers,” she said. Other GM executives also are confident that Tesla’s pickup won’t be in the same league as their electric truck.

“I suspect price-wise there might be some similarities, but I think in terms of size and capabilities, there might be a difference,” Phil Brook, the vice president of marketing for GM’s GMC brand, said in an interview. “People who buy our trucks, they are very proud of the fact that they’ll take their trucks anywhere, they’ll get them dirty, then they’ll wash them out and go to a five-star restaurant for dinner. So they’re not people who just drive them around and want to look good.

Tesla shares have been on a roll since that quarterly report, surging 42% on optimism the company can produce profits on a more sustainable basis. But it’s unclear how soon the new truck will contribute to those efforts. The Model Y crossover is scheduled to launch next summer, and limited production of the Semi truck is planned for next year. Toni Sacconaghi, an analyst at Sanford C. Bernstein, expects Tesla to begin building the pickup in late 2020 or early 2021.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: South Africa Inflation Rate Drops to Almost Nine-Year LowSouth Africa’s annual inflation rate dropped more than forecast to the lowest in almost nine years in October, providing some room for the central bank to ease policy.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Aramco Sees Nearly Enough Early Orders to Pull Off IPOSaudi Aramco’s bankers are seeing sufficient early demand to pull off the state oil giant’s initial public offering just three days after launching the deal, people with knowledge of the matter said.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Siemens CEO Seeks to Shake Up Company With Energy SpinoffSiemens AG aims to shed about 75% of its struggling power and gas unit in one of the most radical moves to date by Chief Executive Officer Joe Kaeser to untangle the sprawling conglomerate and try to boost its valuation.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: OP-ED: The decline and fall of US Attorney-General William BarrThe US Attorney-General’s recent actions raise the question of whether he is acting as the nation’s top law-enforcement official or as Donald Trump’s own defence lawyer.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: In Zambia, a state asset grab and a hazardous leak raise many questionsIn what seems a transparent asset grab by the state, mining company Vedanta is locked in a legal battle with the Zambian government to regain control of its KCM copper and cobalt asset. Vedanta is now raising alarm bells about safety after a sulphur leak hospitalised more than 270 people, most of whom were schoolchildren.
Source: dailymaverick - 🏆 3. / 84 Read more »