GM Won't Follow Tesla's EV Price Cuts, Neither Will BMW, Mercedes, Or Hyundai | Carscoops carscoops
Soon after Tesla slashed prices for the popular Model 3 and Model Y by as much as 30 percent,
by slashing the average price of the Mustang Mach-E by $4,500. A number of EV makers in China have also cut prices. However, many legacy carmakers are remaining steadfast with their current pricing strategies, including General Motors.fourth-quarter earnings call earlier this week, GM chief executive Mary Barra said the company is confident in its current pricing strategy.
“When we look at our strong product portfolio and the interest that we have at the prices that we’ve already announced, we feel that we’re well positioned,” Barra said, according to. “[Going into] the first month of the year, we’ve seen a very strong customer interest in our products… we think, right now, we’re priced where we need to be.”
General Motors will have nine all-electric models on sale by the end of 2023 and is aiming to have delivered over 400,000 by the middle of 2024.
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