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GM promises to add 20 EVs and fuel-cell cars to lineup, paid for by SUVs

DETROIT — General Motors outlined plans on Monday to add 20 new battery electric and fuel-cell vehicles to its global product lineup by 2023, financed by robust profits from sales of gasoline-fueled trucks and sport utility vehicles in the United States and China. "General Motors believes in an all-electric future," GM global product development chief Mark Reuss said on Monday during a briefing at the company's suburban Detroit technical center. Future generations of GM electric vehicles "will be profitable," Reuss said, but added it was not clear when GM could make all its new vehicle offerings zero-emission electric cars. Regulators in China and some European countries have floated proposals to ban internal combustion engines by 2030 or 2040. "We will continue to make sure our internal combustion engines will get more and more efficient," Reuss said. GM shares were up more than 4 percent in midday New York trading on positive comments from Rod Lache, auto analyst at Deutsche Bank. Automakers, including electric vehicle market leader Tesla, lose money on electric cars because battery costs are still higher than comparable internal combustion engines. The company offered sneak peeks of three EV prototypes: a Buick SUV, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM funds its forays into new technology using a river of cash generated by old-technology vehicles popular with its core customer base in the United States heartland. In comparison, Tesla has burned through an estimated $10 billion in cash and has yet to show a full year profit. GM earned more than 90 percent of its $12.5 billion in pretax profits last year in North America, amid robust demand for its lineup of large sport utility vehicles and pickup trucks. The company's profitable operations in China rely on consumer demand for an expanding lineup of gasoline powered SUVs. GM has previously announced plans to make some of its future electric vehicles capable of driving themselves in robot taxi fleets. The company offered sneak peeks of three electric vehicle prototypes: a Buick brand sport utility vehicle, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM collaborated with Korean battery maker LG Chem to build the Bolt battery system. Company officials did not say what companies would supply batteries for the larger fleet of vehicles promised by 2023. Fuel-cell vehicles will also play a role in GM's future, the company said.

These are the slowest-selling new cars of 2024

While overall sales numbers are a solid indicator of an automaker’s success, another metric can show how well its new vehicles resonate with buyers on the ground. iSeeCars recently released a list of the fastest- and slowest-selling new car companies on the market, and a handful of brands appear to have some catching up to do. Lincoln landed the “top spot” among slow-selling brands, taking an average of 82.6 days to move inventory. Infiniti wasnÂ’t much better, at 79.8 days, and Buick came third with 79 days to sell.  Slowest-selling new cars of 2024 Lincoln: 82.6 days to sell Infiniti: 79.8 Buick: 79 Audi: 75.1 Ram: 69.7 Ford: 68.1 Dodge: 67.4 GMC: 66.6 Acura: 65.4 Lexus: 64.5 iSeeCars executive analyst Karl Brauer noted that the fastest-selling brands, which include Toyota, Alfa Romeo, and Cadillac, likely move inventory because they resonate with buyersÂ’ desire for value and a compelling product. The study also noted that seeing GMC, Ford, and Ram so low on the list likely indicates slowing truck sales, which comprise a significant portion of those brandsÂ’ numbers. ItÂ’s also possible that buyers are turned off by higher prices from those brands. Fast-selling new car brands also appeared on the used car list, where Honda, Lexus, and Toyota dominated. Unfortunately for Lincoln, it also made the slow-selling used list, between Maserati as the slowest and Alfa Romeo in third. iSeeCarsÂ’ analysis also examined EV and hybrid sales and found that hybrids tend to sell much faster than their electric counterparts. In March 2024, new hybrids took an average of 49.5 days to sell, while EVs took 70.6 days. That again brings us to the price and value arguments, where hybrids are significantly less expensive than EVs, though charging and range concerns also likely play a role. By the Numbers Green Buick Infiniti Lincoln Car Buying

BMW tops Consumer Reports 2023 Brand Report Card

Feels like we wrote about Consumer Reports' 2022 Brand Report Car and 10 Top Picks a few weeks ago, but it was last April. So the mag is back with a ranked roster of 32 brands and 10 vehicles in four categories for your debating pleasure. Starting with the brands, last year's top three were Subaru, Mazda and BMW. This year, the Munich crew climbed two spots to win the prize thanks to "Superb road test scores and solid results in CR’s reliability and owner satisfaction surveys." Subaru narrowly fell to second, maintaining its four-year run in the top three. Mini, eighth last year, jumped five spots to get the last step on the podium. The rest of the top 10 were Lexus (up one spot from last year), Honda (down one spot from last year), Toyota (up three), Genesis (up 12), Mazda (down six), Audi (down three) and Kia (up eight). The magazine and testing outfit says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CRÂ’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." Last year's top 10 had six automakers from Japan, three from Germany (giving Mini credit for England), none from the U.S. or South Korea, and five luxury brands. This year's list counts five makes from Japan, two from Germany because Porsche fell out of the top ten, two from South Korea, still none from the U.S., and four luxury brands. Buick again ranked as the best domestic, dropping to 12th after being 11th last year. The big mover was Lincoln, its 10-place jump up to 16th attributed to better reliability from the Corsair and Nautilus. Tesla's improved overall reliability saw it climb six spots to 17th. Dodge climbed one spot to 15th. Jeep got out of the penalty box in last to come second-to-last. Land Rover fell three places into the penalty spot.  CR's top 10 vehicle models The 10 Top Picks list is practically a new list. Only two holdovers made it to 2023, those being the Subaru Forester and Kia Telluride.