The move is the latest sign that electric vehicle production and demand may not be as strong as forecast.
In addition, the 50% increase in the first nine months of 2023 trails the 65% growth for all of 2022, according to The Wall Street Journal, citing Motor Intelligence data. A GM spokesperson told The Post that delaying the Orion Assembly plant’s transformation has nothing to do with the ongoing strike by United Auto Workers union against the Big Three — which has shut down major factories, prompting Ford and GM to lay off a combined 500 staffers this month.
Industry leader Tesla slashed prices by up to 20% on many of its popular models at the start of the year after the company’s failure to meet Wall Street’s delivery estimates for 2022.Tesla’s price cuts had a ripple effect through the competitive EV marketplace, dropping the average price for an EV from nearly $59,000 in January to $48,000 in September, per the The Journal, which reviewed Cox Automotive data.
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