Latest news with #ChevroletEquinox
USA Today
3 days ago
- Automotive
- USA Today
Could GM rival Tesla in EV sales by 2026? These electric vehicles are the ones to watch
Could GM rival Tesla in EV sales by 2026? These electric vehicles are the ones to watch Is General Motors the new top dog in the EV space? Show Caption Hide Caption Trump grants one-month tariff exemption for major automakers President Donald Trump granted a one-month tariff exemption to any autos coming from Mexico and Canada for Ford, General Motors, and Stellantis. General Motors electric vehicle sales show tremendous year-over-year growth. The Chevrolet Equinox (from GM's Chevy brand) is the company's best-selling EV in 2025. GM could rival Tesla in 2026 based on sales growth and attractive offerings. General Motors is one of the Big Three American automakers alongside Stellantis (formerly Chrysler) and Ford. Like Ford, GM has made incredible headway in the EV space, rolling out competitive electric vehicles across its portfolio of brands. Some of its nameplates are giving the company the potential to overthrow Tesla as the dominant EV sales leader. Affordability, brand recognition, and Tesla's recent fall from grace are all contributing factors in GM's sudden EV sales boom. Does the automaker have what it takes to dethrone a brand that has become synonymous with electric vehicles in America? General Motors EV sales up 183% year-over-year GMC electric vehicle sales increased by a whopping 183% from Q1 2024 to Q1 2025 according to Cox Automotive, an automotive research company. The American automaker sold 4,728 EVs, up from 1,668 EVs in the first quarter of 2024. Its Chevrolet brand sold 19,186 electric vehicles, an 114% increase from 8,957 in the first quarter of 2024. Cadillac, GM's luxury division, saw electric vehicle sales increase by over 37% from 5,800 to 7,972 year-over-year. On paper, General Motors is gaining serious traction in its mission to become a competitor in the EV space. A closer look at some of its most popular offerings across its portfolio of brands shows just how easy it could be for the company to overtake Tesla in the future. Best-selling General Motors electric vehicles (across portfolio) for Q1 2025 Chevrolet Equinox EV (10,329 units) Chevrolet Blazer EV (6,187 units) Cadillac Lyriq (4,300 units) GMC Hummer Truck/SUV (3,479 units) The Chevrolet Equinox EV leads the charge for GM EVs General Motors currently offers 10 electric vehicles across its GMC, Chevrolet, and Cadillac brands. Of the 10 EVs, the Chevrolet Equinox EV is its best-selling model by thousands of units. Chevrolet has sold 10,329 Equinox EV models in Q1 2025. Its pricing and specs explain why the electric family SUV is becoming so popular among drivers. The 2025 Chevrolet Equinox EV LT 1 front-wheel drive starts at $34,995. According to Chevy, it's eligible for the federal electric vehicle tax credit of $7,500, bringing its true cost closer to $27,495. The Equinox EV is currently the most affordable electric SUV in its segment (factoring in the tax incentive). Chevy's EV has an estimated 319 miles of driving range. It also comes with plenty of advanced standard features despite its low starting price. 2025 Chevrolet Equinox EV standard features A 17.7-inch diagonal advanced color LCD display Adaptive cruise control Automatic emergency braking Natural voice recognition Rear park assist The Equinox EV comes in three trims: the LT 1, LT 2 ($41,900), and RS ($43,400) final configuration. Chevy offers all-wheel drive on every trim for an additional cost. Each trim is more affordable than the average new vehicle cost (nearly $50K according to CNBC). The federal EV tax incentive makes these options even more attractive for drivers looking to save money on a new electric vehicle. Why General Motors could beat Tesla in the long run GM's explosive year-over-year EV sales growth could be a sign of things to come as the company's electric vehicles gain popularity and market share. GM EVs may not beat Tesla EVs when it comes to a direct side-by-side comparison in the performance category, but the company has a competitive edge in terms of pricing. Tesla's current most affordable electric vehicle is the Model 3 sedan which starts at $42,490 ($34,990 post-tax incentive). In comparison, GM's most affordable EV across its portfolio, the larger Equinox EV, is more affordable than Tesla's sedan by $7,495. While both models are below the average new vehicle price, the Equinox EV offers more value for American families in terms of cabin and cargo space as a larger model. Another factor in the sales battle between GM's brands and Tesla is the damage that Tesla has sustained since January. The company's share price nosedived by over 41% from January 2 to April 8. Additionally, Americans have protested Tesla and its CEO due to Elon Musk's former role as senior advisor to the president. Tesla stock is down 15% from January 2 at the time of writing, but the brand has suffered damage that's wreaking havoc on global sales. The recent sales plunge is the biggest decline in history, according to CNN. So, General Motors and its portfolio of brands could have a better shot at besting Tesla in electric vehicle sales in 2026.
Yahoo
7 days ago
- Automotive
- Yahoo
Drivers in Birmingham concerned about prices at the pump after Israel attacks Iran
BIRMINGHAM, Ala. (WIAT) — The price of crude oil rose on Friday in the wake of Israel's attack on Iranian nuclear and military targets. Concerns about escalating violence could impact the flow of crude globally. We talked with drivers in Birmingham to see how concerned they are about paying more at the pump. Gasoline at a Chevron gas station in Avondale was $2.89 for regular gas on Friday afternoon. Michael Hinkle, who drives a 2019 Chevrolet Equinox, said he spends a lot of time behind the wheel playing the role of 'Uber dad': 'Taking my teenage daughter wherever she may want to go, and then my son, he's in sports, so you know, we got to get back and forth to his practice and his games,' Hinkle explained. If gas prices increase significantly, Hinkle said that may have to change. 'We'll probably have to start carpooling games and stuff like that, and I'll tell my daughter she'll have to cut back on going out with friends and everything, just hanging out at the house.' Evanescence coming to Tuscaloosa Sept. 11 Art Carden, who teaches economics at Samford University, explained how this might play out in terms of paying more at the pump. 'If we have a sustained conflict, then maybe we end up with slightly higher prices over the longer term,' Carden said. 'You might want to think about gas mileage the next time you buy a car. But this is anything but catastrophic.' Patrick De Haan, Head of Petroleum Analysis for GasBuddy, said you will be paying more at the pump. 'Diesel prices could go up 10 to 30 cents a gallon over the next week or two starting here and now,' he said. He said gas prices could jump 10 to 15 cents a gallon over the next week or so starting as early as this weekend. De Haan said these are just estimates that could change. He added that the good news at the end of the day is that gas prices are still about 31 cents lower than last year. He noted that if escalations continue and Iran shuts down the vital Strait of Hormuz, which sees a significant amount of crude oil flowing through it every day, the situation could change. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
13-06-2025
- Automotive
- Yahoo
GM weighs tariffs, EV demand, factory flexibility as it moves some production to U.S.
For years, General Motors had turned to Mexico to reduce assembly costs for many lower-priced vehicles. Now it's spending $4 billion to move some of that production to the U.S. starting in 2027, as President Donald Trump's tariffs and evolving consumer demand changed the calculus. GM's plan to build more gasoline-powered crossovers, pickups and SUVs at three U.S. plants gives the automaker more manufacturing flexibility for American consumers, who haven't switched to electric vehicles as fast as once anticipated. General Motors is spending $4 billion at three U.S. assembly plants as it moves some vehicle production from Mexico and increases output of some gasoline-powered models in response to customer demand. Investment Chevrolet Blazer Chevrolet Equinox Chevrolet Silverado/GMC Sierra Chevrolet Silverado Source: General Motors And it helps fill underused U.S. assembly plants, a key priority for the UAW, which has supported Trump's tariffs as a tool to encourage domestic auto manufacturing. 'It respects the tariff issue, but it is not driven entirely by the tariff issue,' said Stephanie Brinley, associate director of AutoIntelligence for S&P Global Mobility. The fact that GM won't start building the vehicles in the U.S. for two years underscores the industry's message to the White House that production changes can't happen quickly, Brinley said. And with a longer runway for gasoline engines as EV demand builds gradually, GM will need to invest to keep its internal combustion lineup fresh. After already spending billions of dollars to prepare an assembly plant in suburban Detroit for electric pickup production, GM now plans to build gasoline-powered trucks there instead. Orion Assembly will be a relief valve for other high-volume factories, including GM's SUV plant in Arlington, Texas, that are running near capacity. 'Automakers are thinking about more than one thing when they make sourcing decisions that are expected to last for a few life cycles,' Brinley said. GM's new $4 billion investment will be shared among Orion Assembly, Fairfax Assembly in Kansas and Spring Hill Manufacturing in Tennessee. The automaker did not specify how much each plant would get, but sources told Automotive News affiliate Crain's Detroit Business that roughly half the amount is earmarked for Orion. Sign up to get our afternoon video email. The video focuses on a new topic in the news each day. 'We believe the future of transportation will be driven by American innovation and manufacturing expertise,' GM CEO Mary Barra said in a June 10 statement. 'Today's announcement demonstrates our ongoing commitment to build vehicles in the U.S. and to support American jobs.' GM will expand production of light-duty full-size gasoline pickups and SUVs to Orion Assembly, which has been down for retooling since the first-generation Chevrolet Bolt ended in late 2023. GM had delayed its timeline for the plant to reopen multiple times as EV demand stagnated. 'We had planned for that to be a big EV plant as we were thinking about rapid expansion of electric vehicles, and clearly we haven't seen that happen,' GM CFO Paul Jacobson said June 11 at a Deutsche Bank automotive investor conference. 'This is a great example of how we can pivot, how we can adjust, how we can be resilient in the face of an environment that's changing around us,' he said. The Kansas plant will make the gasoline Chevy Equinox compact crossover, while Spring Hill will become the new home of the midsize Chevy Blazer now made in Ramos Arizpe, Mexico. A company source told Automotive News that production of the gasoline-powered Blazer will end in Mexico, while Equinox production will continue there for other markets. The UAW celebrated GM's investment as 'a turning point' in its advocacy to bring auto jobs back to the U.S. from Mexico and other lower-cost countries. Want to keep up with the latest product planning news? Go to Automotive News' regularly updated database of product plans for brands that sell in the United States. Future Product Pipeline >5-year product timelines by brand > 'The writing is on the wall: the race to the bottom is over,' UAW President Shawn Fain said in a statement. 'We have excess manufacturing capacity at our existing plants, and auto companies can easily bring good union jobs back to the U.S. They can prove the naysayers wrong by investing in our communities and putting workers before corporate greed. GM is showing that it can be done.' GM's U.S. factory investment comes as the auto industry navigates the vehicle import tariffs Trump enacted in April. GM has said the tariffs will add $4 billion to $5 billion in costs this year and lowered the company's full-year earnings guidance as a result. In recent weeks, GM has said it will increase U.S. production of full-size pickups that also are built in Canada and Mexico. The automaker likewise will cut production of the trucks in Oshawa, Ontario. With the latest investment, GM said it will have capacity to build more than 2 million vehicles annually in the U.S. The $4 billion is in addition to $888 million it's spending to build more V-8 engines at a plant in New York. Fairfax Assembly is currently offline for retooling to build the next-generation Bolt EV starting later this year, but that had been the factory's only assigned product after GM discontinued the Chevrolet Malibu sedan and Cadillac XT4 compact crossover. GM said the plant also is slated to build future low-priced EVs. The automaker already uses a similar approach at Spring Hill and will assemble the Blazer alongside both gasoline and electric Cadillac crossovers. 'The idea that the Blazer and the Equinox EVs were going to replace volume of the gas-powered versions is a bit premature, and they're rectifying that situation by building more of them,' said Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions. 'Having flexible plants will help all automakers over the next decade or so. This is going to be a drawn-out transition, and many of the manufacturers did not plan for that.' Jacobson said investing in existing U.S. plants with excess capacity is a more efficient use of capital than building new factories. 'That optionality is really important and critical for us as we move forward, being able to respond to where EV demand is going to be,' he said. Have an opinion about this story? Tell us about it and we may publish it in print. Click here to submit a letter to the editor.
Time of India
12-06-2025
- Automotive
- Time of India
Latest GM investments in US in line with slowing EV demand: exec
General Motors' latest $4 billion investment into US factories in light of tariffs fits with the auto giant's shift towards slower growth of electric vehicles, a top GM executive said Wednesday. GM late Tuesday announced plans to invest $4 billion over two years to expand production of plants in Michigan, Kansas and Tennessee, making use of unused capacity in its home market as President Donald Trump's tariffs penalize imports of finished vehicles. At a financial conference Wednesday, Chief Financial Officer Paul Jacobson emphasized that the investments also come as GM sees robust US demand for internal combustion engine (ICE) vehicles and slowing growth in EVs compared with the outlook a few years ago. "This is a great example of how we can pivot, how we can adjust, how we can be resilient in the face of an environment that's changing around us," Jacobson said. Jacobson said GM had revised its plan for the Orion Assembly plant in Michigan, which had been envisioned as a home to new EV investments but would instead build ICE sport-utility vehicles and pickups. On Orion, "we had planned for that to be a big EV plant, as we were thinking about rapid expansion of electric vehicles, and clearly we haven't seen that happen," Jacobson said. The other two plants will be capable of producing both ICE and EV vehicles, depending on how demand evolves. GM's announcement added capacity for the Chevrolet Equinox in Kansas and the Chevrolet Blazer in Tennessee. Both of those vehicles are currently imported to the United States from Mexico, exposing them to a 25 percent tariff following Trump's policies. The announcements mean GM will build about 300,000 more vehicles in the United States, Jacobson said. GM's announcement was applauded by the United Auto Workers, which has backed some of Trump's trade policies while urging automakers to shift production to the United States, where many plants are underutilized. "GM's decision to invest billions in American plants and prioritize US workers is exactly why we spoke up in favor of these auto tariffs," said UAW President Shawn Fain. "The writing is on the wall: the race to the bottom is over," Fain said. "We have excess manufacturing capacity at our existing plants, and auto companies can easily bring good union jobs back to the US." Shares of GM were up 2.6 percent in late-morning trading.
Yahoo
11-06-2025
- Automotive
- Yahoo
GM's $4 billion US plant investment will allow production 'rebalance' in light of tariffs, slowing EV adoption
General Motors (GM) is making a big investment in its US production footprint — in part because of uncertainty over President Trump's tariffs. GM plans to invest $4 billion in certain US plants over the next two years to expand production of some vehicles and reshore production of others from Mexico. 'So as we look at our landscape, as we look at the world around us, whether it's the tariff situation, EV adoption, there's a real opportunity to rebalance some of our manufacturing,' GM CFO Paul Jacobson said to Yahoo Finance from the Deutsche Bank Auto Conference in Manhattan. GM said it will add production of the gas-powered Chevrolet Blazer and Chevrolet Equinox, which are currently made in Mexico, to the US starting in 2027. GM will also begin making gas-powered full-size SUVs like the Chevrolet Tahoe and light-duty pickup like the Silverado at its Orion Michigan plant, as well as shift EV production from that plant to the Factory Zero Michigan plant, which produces only EVs. GM said it was No. 1 in overall full-size pickup sales during Q1, which includes Chevrolet Silverado and GMC Sierra models with more than 200,00 units sold — its best first quarter since 2007. GM said full-size pickups also had their best Q1 since 2007, with models like the Tahoe, Suburban, and GMC Yukon seeing sales up 31%. 'It's clear that EV demand has slowed a bit, so we're able to fill that back at Factory Zero and really convert Orion to a much better-utilized plant for full-size SUVs, which will get us some incremental capacity and help take some of the pressure off our team at Arlington [Texas], but also full-size trucks where we'll be able to fill that plant up and have a really secure future going forward for [internal combustion engine] production,' Jacobson said. While rebalancing is a positive in terms of production and shifting powertrains in light of consumer demand makes sense, the moves also address tariffs, at least in the near term. GM said in early May that it would take a $4 billion to $5 billion hit to EBIT due to tariff exposure, though it would mitigate up to 30% of that cost due to remediation and cost-cutting efforts. Jacobson said that GM's peak tariff exposure and impact would occur in the second quarter, as the new initiatives will take time to complete. And despite tariff uncertainty, Jacobson said GM has maintained pricing in the environment and even gained market share, despite others cutting prices. Read more: What Trump's tariffs mean for the economy and your wallet In terms of imports, GM hasn't thus far altered shipments in other markets including Korea, where the popular Buick Encore GX, Buick Envista, Chevy Trailblazer, and Chevy Trax are produced. Jacobson said GM's Mexico operations will still crank out vehicles and won't reduce production, but will eventually shift production for non-US export markets once GM's domestic production moves noted above come online. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram. Sign in to access your portfolio
