General Motors Chief Financial Officer Paul Jacobson has now revealed that the company has lowered its 2024 electric vehicle production forecast to 200,000 to 250,000 vehicles, from the previous forecast of 200,000 to 300,000 vehicles, which is equivalent to lowering the upper limit of the target by 50,000 vehicles.
However, given GM's historical performance, the 200,000 to 250,000 unit range is still a good performance and would still be a significant increase over the past few years.
In 2023, GM's core brand sold 75,883 electric vehicles in the U.S. (and fewer in other markets). In the first quarter of this year, the U.S. sold 16,425 vehicles (down 20.5% year-on-year). Even if sales reach 150,000 vehicles this year, GM will still achieve a year-on-year growth of 100%.
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