TSLA - General Motors And Ford Are Facing The Same Challenge As They Run Back To Gas-Powered Trucks | Benzinga
General Motors (NYSE: GM) and Ford Motor (NYSE: F) will report their first quarter results next week. They both need to answer how they intend to grow their profits amid the EV slowdown to which even the EV king, Tesla Inc (NASDAQ: TSLA), isn’t immune. Tesla warned of slower growth this year. With the EV sales slump, Tesla shares tumbled as much as 39% year to date. Along with growing competition in China, Tesla has also found itself in the mud, let alone legacy automakers struggling to make their biggest ever transformation for the all-electric era that is still coming, just not as fast.
GM
GM is yet to outline its strategy for restructuring its business in China. Last year, GM delivered 2.1 million vehicles in the ...