General Motors “Believes The Future Is Electric”
General Motors notes a lot of demand and profits for selling pickup trucks, SUVs and crossovers, especially after oil prices decreased.
GM promises that it will switch a big part of the profits to develop electrified cars like the next generation 2016 Chevrolet Volt and future all-electric Chevrolet Bolt.
“The company believes the future is electric, with billions (of dollars) of investment to support an all-in-house approach to the development and manufacturing of electrified vehicles.”
According to the GM sustainability report, they sold 180,834 electrified vehicles in the U.S. out of which we count over 80,000 plug-ins (76,136 Volts, 2,960 Spark EV and 1,731 Cadillac ELR).
Sales of conventional cars are much higher and GM will balance investment in future technology and ongoing business:
“But Chevrolet and GMC sold 235,927 Silverado and Sierra pickup trucks in the first four months of this year alone. Of $5.4 billion GM is investing in its 40 U.S. factories over the next four years, $1.2 billion, or more than 20%, is targeted for expansion of the Arlington, Texas assembly plant that will produce nearly 300,000 fullsize SUVs this year.
The company acknowledges it will fall short of its goal of having 500,000 vehicles on U.S. roads by 2017 with some form of electrified powertrain.”
“While the company doesn’t disclose the profitability or losses for individual models, analysts believe that none of the electrified models are making money.”