Mary Barra Makes GM’s Electric Future Clearer As Company Reports 2021 Profit

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Cognizant electric vehicles fetch a price premium putting them out of consideration for many consumers, Barra revealed the automaker would, at some point, pivot from expensive pickup truck and SUV EVs to less expensive models, saying, “affordable EVs are part of the market.” Indeed GM's fourth quarter sales worldwide fell to 742,000 units from 1.01 million a year ago and declined for the full year to 2.85 million from 3.37 million in 2020, but sales of high-prices pickup trucks and SUVs moderated those declines.

Jacobson noted the chip shortage seem to abate during the fourth quarter and supply would improve throughout the year to the point where,“we expect total company volume to increase 25%-30% year-over-year with a majority of increase in second half of the year.”

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What investors should know ahead of GM's fourth-quarter earningsGM is expected to report a relatively positive fourth-quarter profit after the markets close Tuesday, capping off an unprecedented year of supply chain issues.
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