Yahoo Finance published this video item, entitled “GM CEO Mary Barra: ‘I’m not happy with share price'” – below is their description.
General Motors CEO Mary Barra (GM) sat down with Yahoo Finance Executive Editor Brian Sozzi to discuss a wide range of topics including the state of the company post-UAW strike and EV production and adoption. Part of that conversation was the ongoing transition to have all cars produced by GM become EVs. Despite initiatives from the Biden administration’s Federal Sustainability Plan and automakers releasing more options for EVs, EV demand from consumers is down. Greg Migliore, Autoblog Editor-In-Chief, joins Yahoo Finance to discuss his thoughts on Barra’s comments and GM’s efforts to beat out competition and continue in EV sales growth.
When asked about expected margins for some of these vehicles, Migliore states: “I think it’s going to take several years for these some of these vehicles to achieve those type of margins. If you look at vehicles like the Chevy Silverado, the Chevy Tahoe, GMC Yukon, hugely profitable vehicles that are sold in wide varieties to a lot of different people, it’s going to take a while for things like a Chevy Blazer EV, for example, to achieve that type of scale and thus that type of profitability. I think they’re going to be working on that for the rest of the decade at least.”
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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