- NEWS Desk Global
GM AND FORD COUNT ON GAS-POWERED TRUCKS AS EV GROWTH SLOWS
U.S. automakers General Motors and Ford are gearing up to report their first-quarter results next week, but both face a common challenge: articulating to investors where future profit growth will originate, particularly as the growth in electric vehicle (EV) sales begins to slow.
The slowdown in global demand for electric vehicles, coupled with heightened competition from Chinese automakers and elevated borrowing costs in the U.S., has prompted both companies to reassess their investment strategies and prioritize cost-cutting measures over the past year. Additionally, with China's economy showing signs of deceleration and U.S. inflation levels remaining elevated, prospects for a macroeconomic growth surge appear distant.