Who else thinks Mary Barra is an idiot?

[Slo Yelo C5]

Just yesterday, GM completely reversed course on their plan to go all in on EV.

After spending countless billions on it, saying it's "the future", they threw in the towel yesterday.

They now won't even give forward guidance/estimates on sales numbers for EV.

What a colossal disaster. One of the biggest business disasters in recent years.

I predict GM is going to lose half their market capitalization between now and 2026. Watch.

Going all in on EV? Stupidest idea ever.

Nice work, Mary!

[zeek]

Who?

[Louie Detroit]

Originally Posted by zeek

Who?

The head hoe in charge at GM.

[Bill]

Originally Posted by zeek

Who?

GM's DEI CEO. mUh GiRl BoSs!

[VatorMan]

Originally Posted by bill_daniels

GM's DEI CEO. mUh GiRl BoSs!

She headlined a conference that I attended. Said GM was 100% headed to EV production and said by 2025 GM would be 100% EV.


Just like the CEO of Bud Light, stupid CEO can’t read her base.

[Moond0ggie]

Just yesterday, GM completely reversed course on their plan to go all in on EV.

Does anyone else read this as a good thing ?

They threw in the towel on EVs ?

Forward guidance would show hybrid vehicles as the best option in EV development .

Proceed & advance with fuel combustion vehicles also .

[Bruze]

Originally Posted by Slo Yelo C5

Just yesterday, GM completely reversed course on their plan to go all in on EV.

After spending countless billions on it, saying it's "the future", they threw in the towel yesterday.

They now won't even give forward guidance/estimates on sales numbers for EV.

What a colossal disaster. One of the biggest business disasters in recent years.

I predict GM is going to lose half their market capitalization between now and 2026. Watch.

Going all in on EV? Stupidest idea ever.

Nice work, Mary!

Not to defend GM, but you're forgetting the catalyst here: Auto makers world-wide have been brow-beaten, threatened, regulated, and harassed by their governments for decades.

It started here in the '60s. Some of it was maybe needed, but once a government bureaucracy springs into life it never goes away, it only grows as it continues to justify itself. The kings protect their kingdoms; they never give ground.

Auto makers have been regulated into trying to build cars that satisfy Washington's demands. CAFE standards always go up, emission rules always get tighter, pushing auto makers to build EVs as the only way to escape government clutches. Which it won't, of course.

Marxism and its media have been very successful in the US: Hate businesses and love government. Most people I know think this way.

If you want to hate something, hate the government. GM cannot take your liberties away, they cannot clean out your bank account, they cannot break your door down in the middle of the night and drag you away in your pajamas -- but government can do all those things.

[John Wiz]

Originally Posted by Bruze

Not to defend GM, but you're forgetting the catalyst here: Auto makers world-wide have been brow-beaten, threatened, regulated, and harassed by their governments for decades.

It started here in the '60s. Some of it was maybe needed, but once a government bureaucracy springs into life it never goes away, it only grows as it continues to justify itself. The kings protect their kingdoms; they never give ground.

Auto makers have been regulated into trying to build cars that satisfy Washington's demands. CAFE standards always go up, emission rules always get tighter, pushing auto makers to build EVs as the only way to escape government clutches. Which it won't, of course.

Marxism and its media have been very successful in the US: Hate businesses and love government. Most people I know think this way.

If you want to hate something, hate the government. GM cannot take your liberties away, they cannot clean out your bank account, they cannot break your door down in the middle of the night and drag you away in your pajamas -- but government can do all those things.

It's not just GM, but also Ford and GM. I also believe Dodge has reversed course a bit on the all EV future.

They gambled that the government mandates would drive everyone to EV, so none of them wanted to be left behind. What they didn't count on is people realizing the limitations as they became more mainstream. For a % of people, an EV may make sense (as long as you can deal with the fire potential and cost of replacing a battery when needed). But for most Americans, they don't make any sense. They (.gov) also ignores the impact on the grid as they simultaneously cut production and increase load.

[VatorMan]

She wanted to be a government angel complete with halo. We hired a guy from San Francisco. (Uber liberal but really good with finding alternative funding)
He is the # 1 proponent of EV charging. So, the bleeding heart liberal doesn’t want EVs to make it. Nope. Because his well earned engineering degree from N. Carolina showed the payback numbers.

We’ve become great friends. Because we talk actual numbers to make things happen. We throw politics to the side and work numbers. He’s now leaning center.

Amazing how simple things like showing how certain actions can affect the bottom line.

[Bill]

Ford also throws in the towel!

https://www.outkick.com/ford-pulls-p...-biden-praise/

Ford Pulls Plug On $12 Billion Electric Car Investment, Takes Massive Losses On EV’s After Biden Praise

by Ian Miller October 27, 2023, 7:09 pm


The Biden Administration, state of California and most of Europe have made it a priority to push electric cars on consumers going forward.

And consumers are overwhelmingly rejecting them.

Ford, one of the world’s largest auto manufacturers, announced on Friday that it was pressing pause on its $12 billion investment into electric cars. Because the company, like most of the rest of the auto industry, has seen demand for electric cars wane rapidly in recent months.

Even that buries the lede of just how bad the forced electric vehicle (EV) investment has been for automakers.

Ford also said that its electric car division lost $1.3 billion this quarter alone. Which means that for every EV the company sold, it lost $36,000. Revenues are so catastrophically bad for electric cars that Ford expects to lose roughly $4.5 billion on its EV unit.

According to the company, the loss is “attributable to continued investment in next-generation EVs and challenging market dynamics.” Additionally, “many North American customers interested in buying EVs are unwilling to pay premiums for them over gas or hybrid vehicles,” Ford said.

So people aren’t willing to pay more for cars they don’t actually want, based on hyperbolic scenarios of climate change, when the cars aren’t even necessarily better for the environment than gas cars anyway.

READ: ELECTRIC CARS MAY BE WORSE FOR ENVIRONMENT THAN GAS CARS, ACCORDING TO NEW REPORT

Who would have ever guessed?

What might be most impressive about Ford’s remarkable EV losses is that the Biden administration keeps giving out money to support the company. Just this year, in June, Ford was given $9.2 billion to construct battery factories.

All to build more of the same cars that Ford can’t sell without steep discounts.

Ford announced its slashing production of its Mustang Mach-E SUV after declining demand. Demand that continues to erode even with the federal government and some states issuing massive tax credits to subsidize the inflated cost of EV’s.

And it’s still not enough.

Surveys have shown that a substantial portion of electric car owners intend to return to gas in the near future, an unsurprising result considering the hassles of ownership. The public charging infrastructure is abysmal; outside of Tesla, fast chargers are few and far between. Often they either don’t work at all or charge at reduced speeds. If you can find an open plug at all.

Waiting for a charger to open, spending 30 minutes to an hour killing time without the car actually fully charging…none of that is desirable for most buyers. Not to mention spending money to install a home charger, especially with skyrocketing utility costs thanks in part to costly and mostly ineffective “green” energy initiatives.

On top of the lack of resale value in electric cars, given that battery life degrades rapidly over time, meaning that the already abysmal range figures quoted can be cut by 30 percent to 50 percent in just a few years. Or that they don’t work as well in extreme heat or cold.

Other than that, what’s not to like?

Politicians though, likely won’t care enough to change course, because virtue signaling about climate change is more important than making financially responsible choices. Ford better get used to losing a whole bunch of money.

[Yadkin]

FedCo will just bail GM out again, so they can afford to blow billions away. As long as the wasted money is for whatever lamebrain idea that FedCo fashions, future bails are assured.

[Slo Yelo C5]

Originally Posted by Yadkin

FedCo will just bail GM out again, so they can afford to blow billions away. As long as the wasted money is for whatever lamebrain idea that FedCo fashions, future bails are assured.

This.

I wouldn't be surprised if there were already discussions between Mary and DC saying "invest all in on EV. It doesn't matter how it turns out... bailout guaranteed".

And there you go.

[markids77]

Yet here in Jawgia we get Rivian, and the Hyundai Metaplant, complete with battery manufacturing to match. YAY?

[BRUIZER]

GM is #1 for trucks and large SUV sales by a wide margin.
Barra personally earned aprox $58 MILLION over the last 24mos at 61yo.

Yeh...idiot.

[Steve_R]

Originally Posted by BRUIZER

GM is #1 for trucks and large SUV sales by a wide margin.
Barra personally earned aprox $58 MILLION over the last 24mos at 61yo.

Yeh...idiot.

GM should hire Slo as CEO and YadKareNNN as President. What could go wrong?

[Slo Yelo C5]

Originally Posted by Steve_R

GM should hire Slo as CEO and YadKareNNN as President. What could go wrong?

[John Wiz]

Originally Posted by BRUIZER

GM is #1 for trucks and large SUV sales by a wide margin.
Barra personally earned aprox $58 MILLION over the last 24mos at 61yo.

Yeh...idiot.

And at the same time screwed employees and share holders... Weil Done...

[LATB]

Originally Posted by BRUIZER

GM is #1 for trucks and large SUV sales by a wide margin.
Barra personally earned aprox $58 MILLION over the last 24mos at 61yo.

Yeh...idiot.

GM is #1 in truck sales because they are the only company that builds two full size trucks that are essentially the same thing.

It’s either a brilliant marketing strategy that pays huge dividends
Or a case of complete ignorance in efficiency in the modern world.

[markids77]

Originally Posted by LATB

GM is #1 in truck sales because they are the only company that builds two full size trucks that are essentially the same thing.

It’s either a brilliant marketing strategy that pays huge dividends
Or a case of complete ignorance in efficiency in the modern world.

It is amazing to me that people think a Silverdoodoo and a Denali are "different" trucks. Shows you the general awareness of the average consumer.

[VatorMan]

Originally Posted by markids77

Yet here in Jawgia we get Rivian, and the Hyundai Metaplant, complete with battery manufacturing to match. YAY?

While I believe in the technology, it’s not ready for prime time