A leading automotive industry analyst has said he expects both GM and Ford to have more electric vehicle market share than current leader Tesla by mid-decade, with the majority of this anticipated growth driven by the two American automakers’ new full-size electric pickup trucks.
Speaking during an Automotive Press Association event in Michigan this week, Bank of America Merrill Lynch automotive analyst John Murphy said GM’s EV market share will swell to about 15 percent by 2025. GM has a 0.3 percent EV market share in the first quarter of 2022, which was lower than usual due to the stop-sale of the Chevy Bolt EV and Chevy Bolt EUV. The automaker had a 9.2 percent market share in the first quarter of 2021, while Tesla had a whopping 70.9 percent market share during the time period, according to data from Cox Automotive.
Murphy said he expects the majority of GM and Ford’s EV market share growth to come from its new full-size, mass-market electric trucks. The Ford F-150 Lightning entered production earlier this year, while the Chevy Silverado EV will enter production next spring. The Tesla Cybertruck, by comparison, has experienced numerous delays following its debut in November of 2019 and is not expected to enter production until mid-2023.
Bank of America Merrill Lynch published its annual “Car Wars” study this week, which maps out future trends in the automotive industry. This year’s study predicts that 60 percent of all new vehicles introduced for the 2026 model year will be battery-electric, with only 40 percent being internal combustion, hybrid or plug-in hybrid. It also predicts crossovers and light trucks to account for 78 percent of all new vehicle sales between 2023 and 2026, with passenger cars taking up the remaining 22 percent.
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Comments
I think fleet sales will greatly benefit GM along with the ability to offer both a Sierra and Silverado. Now don’t ignore the fact that Tesla will be selling a sh1t ton of cyber trucks but GM will also be selling a lot of Equinox/Blazer as well.
GM is inept compared to Tesla
That seems very optimistic. While trucks will instantly make Ford and GM relevant in the EV space I’m not sure about taking over Tesla’s share in a matter of 3 years. GM doesn’t even have a truck to market yet.
(cough cough) Hummer EV.
If ya think GM does not have a truck then neither does Tesla…in fact I bet GM beats them to market while Tesla announced how long ago now and delayed how many times?
Please refrain from stating actual facts when discussing EV’s. The bed wetting enthusiasts may require extra therapy sessions 😉
Will they really? Shire there wasn’t some money slid under the table in a dinner for this analysis? Stock values are largely weighted by these sort of things. Bottom line is when I talk to someone who wants an EV, they want a Tesla, not just because it’s an EV, mostly because they think it’s cool and “techy.”
When people say they want a Chevy it’s for 2 things that Chevy is very well known for…. 1, they want a V8, 2 they want an SUV. Most of these headlines are just noise
they kind of do in the Hummer, but Tesla also has no truck to market either so your point is moot.
if that is the low buck WT version of the silverado EV, then Ford will handily whip them on sales. the Lightning base is far more attractive.
That massive black cheap plastic grill sure looks good.
I have zero love for Tesla and I don’t believe that for one second. Tesla still can’t build cars fast enough even though they are cranking them out faster than anyone. They have two massive factories that are just now coming online. I don’t think GM will be able to ramp up car production to those levels for several years.
Read his predictions from previous years. This is the same automotive cheerleader that keeps saying “This year will surpass 20 million sales in N.A.”
And?
2018 17.2m
2019 16.9m
2020 14.4m
2021 14.9m
Of the EV truck orders, when surveyed, most say they won’t take delivery. Tesla, GM, Ford and the like can only come out of this mess with government help. Teslas and other EVs sold in our area become worthless almost as soon as they are driven off the lot. People laugh at you if you try to sell and the dealers don’t want them back. This is the biggest waste of time and money in automotive history.
While it seems like GM has the best overall BEV Tech from the Legacy Automakers, GM stands ZERO chance of surpassing Tesla by 2025. Not saying that GM cannot or will never pass Tesla in overall sales but it sure as hell will NOT be by 2025.
Tesla will announce at least one more Gigafactrory location later this year or beginning of next. Tesla will easily be producing Five Million Vehicles by 2025. Does anyone honestly believe that GM will be at Five Million BEV’s by 2025?
Will they even sell 100K this year?
As a GM fan I want GM to keep pushing and striving to become the Best but as I have stated for many years Tesla is simply way too far ahead. That doesn’t mean in Terms of overall sales by say 2030 but lets never forget that Android sells waaaaaaay more Cell Phones than Apple sells iPhones. But Apple is by considered The Best.
Statements above about Tesla Values after sales going down is sooo false. Supply demand is so high that many have sold their used Tesla for a PROFIT. Troll lies abound here but anyone can search the truth. Shame on you BOXCAR JONES
Do you make money with the lies ????