GM Lowers 2024 EV Production Targets Amid Sluggish Demand

General Motors adjusts its electric vehicle production forecast to 200,000-250,000 units for 2024, citing slower-than-expected market growth.

GM's revised target is down from an initial range of 200,000-300,000 units.
The company aims to achieve variable profit at the lower production range by Q4 2024.
Incentives and rebates up to $7,500 are being offered to boost EV sales.
New models like the Chevrolet Equinox EV are central to GM's strategy.
Despite challenges, GM reported strong EV sales in May 2024.