GM CFO Says Rivals Were Selling EVs For 'Whatever They Could Get' During Third Quarter Earnings Call Amid $1.6 Billion EV Charge - General Motors (NYSE:GM)

Core Insights - General Motors Co. (GM) CFO Paul Jacobson highlighted that emissions regulations and EV credits have led competitors to sell electric vehicles (EVs) at lower prices during the third-quarter earnings call [1] - There has been a notable decline in demand for EVs since the termination of the $7500 Federal EV Credit by President Donald Trump, prompting some competitors to sell EVs at minimal prices to secure environmental credits [2] - GM reported a $1.6 billion charge related to EVs, with $1.2 billion attributed to adjustments in EV capacity [3] - GM has retracted its plans to extend EV incentives after the September 30 deadline, which included making down payments to dealers to qualify inventory for the EV credit [4] - Following GM's decision, Ford Motor Co. also rolled back its planned incentives after concerns were raised by Senator Bernie Moreno [5]