We all know Tesla (TSLA) is a run-away train, but what if I told you General Motors (GM) could soon be not only chasing down Elon Musk but maybe passing him?
OK, all of the Tesla fanatics need to take a deep breath and calm down. The thinking that another “car” company could pass Tesla is not a negative comment against Tesla; it’s the reality that we are now living in a world where electric and other alternative energy vehicles are not “pipe” dreams but reality.
The late January announcement from General Motors that they will no longer sell internal combustion engine vehicles in the United States by 2035 is the writing on the wall that gasoline is ending and EV’s will dominate the road. In 2020 Tesla delivered 499,550 vehicles, which shows that we have demand for EVs even now. Perhaps not like the demand that GM still has for gasoline-powered vehicles. GM sold 7.7 million in 2019, down from the 8.3 million it had sold in 2018 and way off its high of just over 10 million in 2016. These are worldwide sales figures, but regardless GM sold 2.5 million vehicles in the US in 2020.
What’s the point of these figures? Continue reading "General Motors Announcement Changes Everything"