GM Won't "Absolutely" Catch Tesla in U.S. Sales of EVs By 2025
The Internet is a funny thing - because once someone says something, and it stays online, that "clip" or video of what they said stays around forever. Back in October 2021, Mary Barra, the CEO of GM, said that GM can "absolutely" catch Tesla in U.S. Sales of EVs by 2025. This couldn't be further from the truth, however.
2025 is now fast approaching - in about 9 months from now...
Mary was asked about EVs at that time, and was asked about the GM Hummer EV on CNBC. It was said that she had accelerated her plans and talked about how excited she was about the Hummer EV and the Ultium battery platform.
A Tesla FSD One Month Free Trial Is Going To Come Soon To Tesla Vehicles In North Americahttps://t.co/XnXKtv5JXr$TSLA @Tesla @torquenewsauto #evs #fsd #autonomy
— Jeremy Noel Johnson (@AGuyOnlineHere) March 17, 2024
Mary talked about her vehicles and delivering them, getting EVs delivered to customers and seeing how fast they can go. She said that the Ultium battery platform cut the time of development of GM's EVs in half.
One of the goals GM had was that they would be the market leader in EVs.
Tesla was at 63% market share in 2021.
GM was at about 9% market share in 2021.
Mary said this statement very enthusiastically when asked if GM could catch Tesla:
Absolutely, Phil. When we look at the portfolio we have, not only the Hummer and the Lyriq, but Mark Rice talked about that we are going to have an Equinox-liked sized product that's going to be at around $30,000. We have the Silverado E coming, a GMC product after that, and again, all the products we haven't announced yet, we are very comfortable, because when people get into these vehicles, they are just wowwed. We will be rolling them out and we are going to just keep working until we have #1 market share in EVs.
Let's take a look at market share in EVs today to see what changed since 2021.
Tesla was at about 56.3% market share.
Chevrolet was at about 5.9% market share, according to Market Watch. No other GM vehicles were mentioned in the article. The Chevy Bolt is the main EV that GM produces that is sold in any kind of meaningful volume.
It doesn't look like GM has made a dent in their EV market share. Tesla's market share has gone down to 56.3% and this is to be expected. As all the other companies produce EVs and companies like Rivian ramp up their production of EVs. Tesla will naturally go down in market share of EVs as the entire "ocean" of EVs increases.
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Will GM Every Be the EV Market Leader?
Gm is most likely not going to be the EV market leader. The company's core competency is internal combustion engine vehicles - and big vehicles like trucks. For GM to transition to EVs and make them profitably and at scale is a difficult task.
GM must first transition from its gas car business to making EVs in order for GM to be the market leader in EVs? Why? Because Tesla is an EV only company and is already at around 2 million EVs being produced and delivered per year.
GM ended 2023 with disappointing EV deliveries of 75,883. 62,045 of those were the Chevy Bolt.
GM produced about 4.2 percent of the EVs that Tesla did in 2023. To expect GM to exceed Tesla in 2025 is quite laughable. Still, I hop that they are successful in their EV endeavors because all companies will need to contribute to sustainable energy for the world to rid itself of its dependence on fossil fuels.
Elon Musk Just Said, "Three Significant Improvements to FSD Will Roll Out Roughly Every Two Weeks. Should Be Really Shining Bright By Late April Or Early May"https://t.co/hlaCZlCndu$TSLA @Tesla @torquenewsauto #fsd #evs #autonomy #robotaxi #software
— Jeremy Noel Johnson (@AGuyOnlineHere) March 19, 2024
Here is the full video of Mary Barra saying that GM could absolutely catch Tesla by 2025 in EV sales. In 2025, Tesla will most likely deliver around 2.4 to 2.5 million EVs. I just don't see any reality where GM will get to even a few hundred thousand EVs sold in 2025...
GM can “absolutely” catch Tesla in U.S. sales of EVs by 2025, CEO Mary Barra tells @Lebeaucarnews. https://t.co/XRwPhNgdac pic.twitter.com/wvRiu3xQDv
— CNBC (@CNBC) October 27, 2021
For Further Reading: Tesla Is Creating a Monopoly On EVs That Could Extend to All Automobiles Sold
Can GM catch up to Tesla by 2025? How would they do it?
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Hi! I'm Jeremy Noel Johnson, and I am a Tesla investor and supporter and own a 2022 Model 3 RWD EV and I don't have range anxiety :). I enjoy bringing you breaking Tesla news as well as anything about Tesla or other EV companies I can find, like Aptera. Other interests of mine are AI, Tesla Energy and the Tesla Bot! You can follow me on X.COM or LinkedIn to stay in touch and follow my Tesla and EV news coverage.
Image Credit: CNBC
Comments
GM's decision to drop the…
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GM's decision to drop the FSD nonsense certainly gives them an advantage.
Anybody that invests in…
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Anybody that invests in Tesla will be disappointed, and anybody that believes a word Musk says is a fool.
Tesla only dropped 260…
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Tesla only dropped 260 billion in value in the First Three months. Watch it accelerate. China factory working hours were cut by 33%. Your "ocean" of EV watch it carefully evaporate. You will be lucky if a pond is left. "Tesla is an excellent car if you don't have to drive." BTW I own one and after 10 months it has dropped in value by 50%.