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GM trims 2024 EV sales forecast amid slower-than-expected demand

In Business
June 11, 2024

GM’s 2024 Chevrolet Equinox EV during a media launch event for the vehicle in Detroit, May 16, 2024.

Michael Wayland / CNBC

DETROIT – General Motors is trimming its expected sales of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected.

GM Chief Financial Officer Paul Jacobson said Tuesday that the company now expects sales of 100,000 to 150,000 EVs this year, down from a previously announced range of 200,000 to 300,000.

“So at the lower end of that, and I think it reflects the momentum that we have in the business,” Jacobson said during a Deutsche Bank investor event.

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