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Home»Automotive»GM’s Electric Future Faces Major Test as Trump Targets EV Subsidies : Automotive Addicts
Automotive

GM’s Electric Future Faces Major Test as Trump Targets EV Subsidies : Automotive Addicts

Mike SmithBy Mike SmithFebruary 28, 2025No Comments5 Mins Read
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Gm’s Electric Future Faces Major Test As Trump Targets Ev
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General Motors has been on an aggressive push to carve out an even bigger slice of the U.S. electric vehicle market, doubling its EV market share to 12% within the fourth quarter of 2024. With a growing lineup of battery-powered models, GM is proving it will probably compete beyond Tesla’s dominance. But as political winds shift, the automaker’s EV ambitions could face a significant roadblock—former President Donald Trump’s proposed rollback of EV subsidies if he wins the 2024 election.

GM’s EV Surge: A Hard-Earned Victory

GM’s recent success in EV sales isn’t just luck. The corporate has expanded its electric lineup, offering the whole lot from the inexpensive Chevrolet Equinox EV to premium models just like the Cadillac Lyriq. This broader selection has helped the automaker attract buyers who previously might need stuck with gasoline-powered models.

In 2023, GM tripled Lyriq sales to twenty-eight,402 units—outperforming several of Cadillac’s gasoline SUVs. Meanwhile, EV versions of the Chevrolet Equinox and Blazer accounted for 22% and 40%, respectively, of those models’ total fourth-quarter deliveries. By comparison, Tesla continues to dominate with a 44.4% share of the U.S. EV market, but GM is proving that variety matters in winning over customers.

Industry analysts credit GM’s momentum to a combination of competitive pricing, leasing incentives, and the easy incontrovertible fact that its lineup now includes 10 EVs, giving buyers more options than many competitors. Ford and Toyota, against this, have leaned into hybrids, a method that has paid off as many consumers remain hesitant about full electrification.

The $7,500 Query – Will GM Hold Up Without Subsidies?

Certainly one of the important thing drivers of GM’s recent EV sales has been generous incentives, particularly the $7,500 federal EV tax credit. This subsidy has made EV leases especially attractive, with many GM dealers reporting that over half of their electric vehicle transactions come through leasing.

Trump has made it clear that, if re-elected, he intends to eliminate EV subsidies and will even impose a 25% tariff on vehicles imported from Mexico—where GM builds the Blazer EV and Equinox EV. If these policies take effect, GM will face a serious challenge in maintaining its EV sales growth.

Ivan Drury, director of insights at Edmunds, summed it up bluntly: “We all know what happens for those who don’t provide it. You don’t sell.”

The potential lack of subsidies puts GM in a difficult position. It could decide to cut EV prices to keep up competitiveness, but that will put much more pressure on profitability, which is already a significant concern within the transition to electric vehicles. GM has yet to verify whether it will lower prices if the tax credits disappear.

GM’s Biggest Hurdle to an EV Future

GM’s long-term vision is an all-electric lineup by 2035, but its biggest moneymaker—full-size trucks and SUVs—stays a significant obstacle. While the Silverado EV has finally hit the market, its high price point has made it a slow seller. GM delivered only about 9,000 electric pickups in 2024, compared to almost 900,000 gas-powered Silverado and Sierra trucks.

The issue is twofold: battery-powered trucks remain expensive, and their towing and payload capabilities still fall in need of what traditional truck buyers demand. EV pickups require massive batteries to realize competitive range, which in turn makes them extremely costly.

GM has plans to expand its electric truck lineup, including cheaper Silverado EV trims in 2025. But the truth is obvious: the transition to electric trucks goes to take longer than expected, and GM will need to search out ways to keep up its dominance within the highly profitable full-size truck market while making EVs a viable alternative.

Will GM Stick With EVs or Pivot to Hybrids?

Unlike Ford and Toyota, GM has largely resisted the hybrid route, as a substitute betting big on pure EVs. Ford has seen hybrid sales soar—jumping 40% in 2023—while Toyota’s hybrid strategy continues to be a runaway success, with hybrids making up 40% of its U.S. sales.

GM has signaled it’s going to introduce plug-in hybrids by 2027 to fulfill emissions regulations but has no plans for traditional hybrids. CEO Mary Barra recently dismissed hybrids as an “interim solution,” arguing that GM’s resources are higher spent on full EV development relatively than dual-powertrain vehicles.

Some analysts, nevertheless, consider that GM’s reluctance to embrace hybrids could cost it within the short term. “It will be hard for GM to compete head-on with Toyota in hybrids,” said David Whiston, an automotive stock strategist at Morningstar Research. Still, GM stays confident that full electrification is the longer term.

2025 is The Yr That Could Make or Break GM’s EV Push

With a broader lineup, a more refined production strategy, and robust lease incentives, GM has set itself up for EV success. But 2025 will probably be the true test of whether its electric ambitions can delay under recent political and market realities.

The upcoming launch of the next-generation Chevy Bolt—a sub-$30,000 EV—could play an important role in maintaining momentum. At the identical time, if federal incentives disappear and consumer demand shifts back toward hybrids and gas-powered vehicles, GM could find itself in a difficult position.

For now, the automaker stays committed to its all-electric strategy. But with economic uncertainties, political risks, and lingering questions on profitability, the road ahead is anything but smooth.

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This Article First Appeared At www.automotiveaddicts.com

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