2023 Is Breakout Year For GM, Says Mary Barra46
Electric vehicles continue to grow in popularity and garner official support and encouragement as the new year of automotive sales begins. Against this backdrop, GM CEO Mary Barra says 2023 is the year The General begins its push in earnest to outdo most of its competitors in the electric vehicle field, aiming to eventually overtake Elon Musk’s Tesla, Bloomberg reported last Friday.
“I don’t think, I know, I know this is our breakout year because of the products we have and the demand we’ve seen,” Barra stated during an interview, according to Bloomberg‘s report.
These ambitious plans will require GM to overtake both Ford, which is currently outselling its electric vehicle offerings, and sector leader Tesla. While GM delivered close to 40,000 EVs during 2022, research firm LMC automotive projects 427,000 electric vehicle sales in 2023 for Tesla, a formidable benchmark to surpass.
LMC analyst Kevin Riddell remarked in an email “there is still of [sic] a chasm to fill to catch Tesla’s sales volumes,” though the firm anticipates GM will deliver 117,000 EVs in 2023, putting Ford’s electric vehicle sales in its rear-view mirror.
GM’s electric vehicle numbers may have lagged those of competitors like Ford until now, the article suggests, because The General opted to develop its GM Ultium batteries, electric GM Ultium Drive motors, its highly scalable BEV3 platform, and related technologies rather than repurposing ICE vehicles with ad hoc electrification. Now that GM has prepared the necessary technological groundwork, it can launch its electrical initiative vigorously.
GM plans to introduce 30 new electric vehicles planetwide by 2025, and recently said it will have EVs in one third of automotive segments by the same date. The segments it’s aiming for are the most popular, accounting for 70 percent of vehicle sales each year.
Currently, GM has seven Ultium-based electric vehicle models available:
- Cadillac Celestiq
- Cadillac Lyriq
- Chevy Blazer EV
- Chevy Equinox EV
- Chevy Silverado EV
- GMC Hummer EV Pickup
- GMC Hummer EV SUV
Production will need to ramp up sharply to overtake Tesla’s projected 427,000 calendar year 2023 electric vehicle sales. General Motors expects annual EV sales of over 1 million units total by 2025 in its two major markets, North America and China, a figure likely to put it decisively in the lead if achieved.
A slower than anticipated launch of battery cell production recently caused Mary Barra to push back GM’s previously announced 400,000 EV production target to early 2024 rather than late 2023 as originally intended. However, battery production began in September at GM’s new Ultium Cells plant in Warren, Ohio. More battery plants should soon be operational.
Analysts at Bank of America Corp also say GM will likely be producing 1 million EVs a year by 2025. This, combined with the robust electrification investment The General can make thanks to its solid earnings, may give it a strong chance at its planned replacement of Tesla in the number one spot among electric vehicle manufacturers.
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Thats seems like an empty statement given how poor they’ve been dealing with the issues in the gmc hummer. I hope they figure it out soon enough because i actually like the hummer
The Equinox sales will be telling as this is the first of the EV models for the average buyer. It will be priced in that area where it is not a major jump in price. The Blazer to a lesser degree.
I can see both selling well.
Absolutely correct – this needs to sell at scale. I would argue the Silverado EV is a close second.
I have been patiently waiting now 2 years to replace my volt! Come on GM get this going and out the door. But point made, many buying the existing Fords do not realize as mentioned ad hoc EV conversions to get out the door and more than likely not Fords long term platform strategy. And for those that like to keep their cars/trucks til the tires fall off will be disappointed especially around battery support just like whats happening to the VOLT.
The battery in my wife’s 2013 Volt is starting to fail as it was designed to last 8-10 years. Paid $45k for it new and now its worth about $4k if we replace the battery for ~$16k. Although the vehicle has been absolutely flawless to 130k, GM’s commitment to a platform/battery/strategy is concerning – will they continue with Ultium packs or will they scrap it like every other platform/battery and start using cylindrical cells leaving current buyers in our situation where a 16.5 kw battery replacement costs the same as a 75kw Tesla Model 3 battery. I cut my losses and bought a 2023 Tesla Model Y when the prices dropped. I’ll keep my 2020 Duramax truck until it dies, but don’t trust GMs revolving BEV plans.
I am hoping my 2014 volt holds out til next year when Equinox or Blazer are available otherwise I am doing plan B….waiting is over!
I will agree with you. My wife had a Volt with over 100K and was waiting for GM to come out with a newer style Volt or one like it, but then GM and Mary decided to quit making to volt all together so we purchased a Traverse now my wife and I decided to get a Toyota Highlander and Ill keep my 2020 Duramax as long as I can. My 2020 Duramax is one strong pulling truck.
Baloney. They’re not able to deliver. Just tried to custom order a 2023 Camaro LT1 Convertible. Dealer said constraints on V-8s. He’s honest. I’ve ordered new Chevy V-8 vehicles since 1971- Super Sports, Corvettes, pickups, and large passenger cars. Never experienced anything such as this.
Glad I put my long- established GM card on ice some years ago.
All true. The thumbs down crowd likely all GM employees
No such thing as an honest dealer Bud.
I’m still waiting on a battery for the 2019 Bolt (2 YEARS) and your telling me that you can produce trucks with 3x the battery size?
It’s a completely different battery and one that doesn’t have a future beyond the Bolt.
You’re not making enough noise Ned…. You need to get on your dealers back and stay there until your car is fixed. My experience dealing with 2 of these replacements says this works. I know, in a perfect world you should not have to do this but if you want it in the review mirror then saddle up and bring the spurs
Because it and the now defunct VOLT is why I patiently for the BEV3 full platform for the hopes of its longevity by the time they reach 5 10 or more years old for replacement batteries beyond GM being a long term BEV3 platform ultium strategy! Time will tell. But can’t wait….time is of the essence.
You’d think she would have learned by now. Just shush and get the product out. The Roger Smith tree casts a long shadow.
Being silent is the exact opposite of what anyone in leadership would want to do when you have shareholders to please.
We heard a lot of rhetoric from gm brass up to 2009. How did that pan out for shareholders?
Up until 09 GM was still fighting to prevent knowledge of their vehicles leaking up until weeks before they were unveiled unlike now when we know what the vehicles are going to be like and 2 to 3 years out! The old gym usually delivered, they may not have been the shiniest, they may have had cost cutting galore, but they delivered! And they’re sure weren’t supplier constraints on brand new vehicles! If you can’t get the parts don’t advertise it. Truth and advertising / bait and switch!
Only if you’re just doing lip service instead of delivering! Walk softly and carry a big stick is another analogy that applied to GM during the decades it owned the market!
Well, I’m confused because almost every vehicle on the above list that they say is available is not. Just the Lyriq and Hummer SUV are out, but the rest will be available later this year or early next. Typo?
Anyhow, I understand that they article is mostly about the EV’s, but you can’t just compare GM’s EV’s to Tesla and be fair about it. Yes, Tesla is only EV, but sales are sales and GM still sells ICE aplenty. Shouldn’t they make it fair and use all GM sales and make the distinction of their EV goals?
Dan B – By available means they announced them like 2 super bowls ago that they are coming, but this is for sure the year they ramp up – ish, maybe. Yes, the article is about GM’s aspirations of selling 1M BEVs in 2025 and they do outsell Tesla by total units in the US (2.3M vs 430k) and globally (6M vs ~2M projected for 2023), but aren’t even close in regards to BEV sales. That matters because tyrannical government mandates designed to end ICE sales are being imposed in large markets that GM is in, which will eliminate significant ICE vehicle sales leading to the inevitable collapse of well known OEMs (especially european and japanese). So, BEV sales will matter even before 2030 – GM knows this, that’s why they keep announcing whats on the horizon even if they keep delaying it so their customer base doesn’t evaporate while they work out the kinks. Its a tough balancing act, we’ll see how it turns out.
Zero interest in EVs. Good luck to Karen Motors.
She needs to GO AWAY along with her lousy EV crap. No interest.
I recently finished my annual GM Diversity, Equity, and Inclusion training and I was thinking, when will GM practice what they preach? Instead of picking winners and losers. Does GM treat an older dealer with the same respect as a younger dealer? Do they believe in equity among all dealers? Does the smaller rural dealer have the same opportunity for success as the largest metro dealer and vice versa? I’m not talking about total volume of units, I’m talking about percentages based on market size. Why do some dealers consistently get high demand vehicles over and over while others get one a year or none? Where is the equity? GM complains publicly about dealers selling above MSRP but they keep rewarding those dealers with high demand products. How does a dealer in the small town of Fort Payne, Alabama get (30) new HD 2500 trucks? While large metro dealers have less than five. Where is the equity? Looks like many folks aren’t included at the table. My understanding of Equity, Diversity, and Inclusion is treating your fellow citizen with respect and fairness. When do corporations put into practice what they desire for everyone else? Is it possible to be fair 100% of the time? No but it sure would be nice to see 75% of the time. Mary is probably a great lady but it would be nice to see her management team practice her policies.
If they keep offering products that people don’t want in lieu of products that people do want, as well as continuing to build incomplete vehicles due to constraints, 2023 may be a Break Up year instead of a Breakout year.
tim: I’ll turn that around on you. Most of what GM is offering is trucks and SUV-ish vehicles. I don’t want any of those and there are over a million of buyers annually who also don’t want them. So you are referring to EV’s. I’m referring to not being able to purchase a Buick sedan like I would really like. Same outcome, just different ways of looking at it.
I agree with you 100%. I’m not ready to jump into an EV given their range and charging limitations. But I am also fed up with SUV’s and trucks. I want a large sedan like the Impala or last-gen Buick Lacrosse. If I want a new GM sedan, I am limited to a Malibu (which I don’t like), a Bolt (I won’t buy an EV), or a Cadillac CT4/CT5 (which are expensive). I have a Blazer lease that I am turning in later this year and there aren’t many appealing products that the General has without getting into another SUV or large truck. I am exploring getting into a CT5 lease if the numbers line up, but if there were other sedan options, I wouldn’t be looking at Cadillac.
Yup it’s this exact reason I won’t be buying a GM for my next vehicle. They literally killed off all their best sedans in one fell swoop.
tim: Good luck in the quest for the CT5. I hope you can work that out. When you say the two Cadillac sedans are expensive, do you feel they are more expensive than a new loaded Blazer? From what I know, I think the Blazer could be more than a comparable CT5. I’d take the CT5 any day over and GM SUV.
Just you wait!
You know, like they’ve been saying for years. Decades even.
The Only Thing That Will Break This Year Is The Bank With Continuous Price Increases!
All due respect to Ms. Barra, I sincerely hope that GM hits the sales goals she is forecasting. When it comes to GM’s press pronouncement track record in the last few decades though, it’s hard to believe. Is it just me, or is something going on with GM’s snail-like EV production so far they won’t talk about? I mean; the Cadillac Lyric rollout has been a non-event. They debuted and continue to air and post national advertising for a vehicle they can’t seem to produce in any volume. I realize that this is new technology, but GM has to employ 100 development and production engineers for every 1 at Tesla. I applaud them if they won’t release any vehicle unless it’s as perfect as they can make it – but this extended slow crawl has me wondering what the hell is going on. C’mon GM. A little daylight, please.
Mary should move her office to communistic china
I think she’s over paid.
I call [email protected]#$%. Ordered a 22′ 3500 reg cab they wouldn’t build tried again with a 23′ same thing apparently not enough profit in a reg cab HD and they were both loaded as much as possible. Asked about a 2024 was told may take a year if they build it at all. Shifted focus to 23′ 1500 with Duramax waited two months after giving dealer $1000.00 deposit was just informed can’t be built as configured – I wanted the HD tow package. Not going to be available for the rest of the model year !
What I understand Toyota is coming out with a hybrid 1/2 ton pickup and possible 3/4 ton pickup. For now Toyota is sticking with hybrid vehicles.
Interesting how a few bad apples on here feel it’s ok to use someone else’s info. The above “Time for a global recession” is NOT from me.