Core Viewpoint - General Motors (GM) has achieved sustained sales growth in both the Chinese and American markets in Q3 2023, driven by different power sources and a strong focus on electric and fuel vehicles [1][5]. Group 1: Sales Performance - In China, GM's retail sales reached approximately 470,000 units in Q3, marking a year-on-year increase of 10.1%, achieving consecutive quarters of sales and market share growth [1]. - Buick brand sales in Q3 saw a significant year-on-year increase of 54.3%, with the Buick GL8 family selling over 34,000 units, up 24.5% [3]. - Cadillac brand sales grew by 11.2%, with the new generation Cadillac XT5 experiencing a nearly 90% year-on-year increase in sales [3]. Group 2: Electric Vehicle Strategy - GM's total sales of new energy vehicles and pure electric models have continued to rise, achieving year-on-year growth for ten consecutive quarters since Q2 2023 [3]. - Starting in 2025, all new Buick models launched in China will be new energy vehicles, covering pure electric, plug-in hybrid, and range-extended electric vehicles across all mainstream price ranges [3][4]. - The Chevrolet Equinox EV has become the best-selling electric vehicle in the U.S. after Tesla, with total electric vehicle sales in the U.S. reaching 144,700 units in 2023, a 105% year-on-year increase [5]. Group 3: Market Position and Future Outlook - GM's strong performance in Q3 reflects a robust development pace in the Chinese market, supported by local innovation and partnerships [4]. - The company has recorded the best-ever sales for its fuel and electric vehicle lineup in the U.S., with strong pricing, low incentives, and low inventory contributing to market share growth [6].

TD Cowen将通用汽车的目标价从80美元上调至92美元，将福特汽车的目标价从11美元上调至13美元， 将Stellantis的目标价从10.5美元上调至12美元。(格隆汇) ...

Group 1 - General Motors and its joint ventures are accelerating their electrification process, with Buick's new energy sub-brand "Zhijing" launching its first electric sedan, Zhijing L, in September [1] - Starting this year, all new models launched by Buick in China will be electric vehicles, with the flagship model Buick Shijia expected to be released within the year [1] - By next year, it is projected that the sales proportion of new energy vehicles within the company will exceed 50% [1] Group 2 - In the third quarter, General Motors reported retail sales of approximately 470,000 units in the Chinese market, representing a year-on-year growth of 10.1%, achieving consecutive quarters of sales and market share growth [3] - Buick brand sales in the third quarter increased by 54.3% year-on-year, while Cadillac brand sales grew by 11.2% [3]

Core Insights - General Motors Co. has decided not to extend incentives on electric vehicles in the U.S. beyond the Federal EV Credit deadline of September 30, following concerns raised by Senator Bernie Moreno [1][2][3] - The automaker's financing arm was previously set to make down payments on dealer inventory to qualify for the tax credit, but this plan has been abandoned [2][4] - Other automakers, including Ford and Stellantis, are still offering incentives to EV buyers, while Hyundai has reduced the price of its Ioniq 5 EV and is providing incentives [5][6] Group 1 - GM's decision not to claim the tax credit was influenced by concerns regarding the use of its financing arm for down payments [2][3] - Senator Moreno expressed satisfaction with GM's decision, highlighting efforts to protect the domestic auto industry [3][4] - GM Financial was initially targeting 20,000 units for the incentive scheme, with over 5% of the vehicle's total value as a down payment [4] Group 2 - Ford is offering low-interest loans to customers with subprime credit ratings for its F-150 pickup truck [6] - Jon McNeill, former Tesla sales chief and current GM board member, believes that EV sales will continue to grow despite the reduction of incentives [7] - GM is noted to have good momentum and value, scoring satisfactorily on quality and growth metrics, with a favorable price trend in the medium and long term [8]

Core Viewpoint - General Motors has decided to terminate a program that would have allowed its dealers to continue offering a $7,500 tax credit on electric vehicle leases after the federal subsidy expired on September 30 [1][3]. Group 1: Program Details - GM initially planned for its in-house lending arm to purchase EVs from dealers' inventory and apply for the federal $7,500 credit, rolling that money into lease terms for customers until the end of the year [2]. - The program aimed to alleviate concerns from dealers about being left with unsold EVs after the tax credit expiration, with plans to claim the credit on tens of thousands of EVs in dealer stocks [4][5]. - GM Financial had already begun making down payments on approximately 20,000 EVs to qualify for the subsidy before the deadline [5]. Group 2: Reactions and Implications - Republican Senator Bernie Moreno expressed satisfaction with GM's decision to scrap the tax-credit plan, emphasizing the importance of adhering to the expiration of EV subsidies [4]. - The company stated it would fund incentive lease terms through the end of October, with down payments calculated as 5% of the maximum price for each vehicle [6].

General Motors is backing off a controversial plan to use its in-house auto finance company to effectively extend the federal $7,500 electric-vehicle tax credit beyond its Sept. 30 expiration, the company said https://t.co/1WRAER5B2X ...

Core Viewpoint - General Motors is retracting its plan to utilize the $7,500 federal electric vehicle tax credit and will instead implement its own incentive program for electric vehicle leasees [2] Group 1 - The federal tax credit for electric vehicles has expired at the end of the previous period [2]

Core Insights - The automaker aimed to leverage its finance division to secure the $7,500 federal tax credit on electric vehicle leases after the September 30 deadline [1] Group 1 - The automaker's strategy involves utilizing its finance arm to maximize tax benefits for electric vehicle leases [1]

General Motors has decided not to offer federal tax credits on EVs that were in transit to dealers or on their lots before last month’s expiration of the $7,500 incentive, opting instead to give about $6,000 of its own cash for lease support https://t.co/DZVXupU2eG ...

Core Points - General Motors is discontinuing a program that allowed dealers to offer a $7,500 tax credit for electric vehicles for several months after the federal tax credit expiration on September 30 [1] Summary by Category Company Actions - The decision to scrap the program indicates a shift in strategy for General Motors regarding electric vehicle incentives [1] Industry Implications - This move may impact the sales of electric vehicles as the tax credit was a significant incentive for consumers [1]