GM's Big Warning for EV Investors

By Jason Hall and Tyler Crowe – Oct 26, 2023 at 6:07AM

NYSE: GM

General Motors

Market Cap

$52B

Today's Change

(0.48%) $0.22

Current Price

$45.84

Price as of April 26, 2024, 4:00 p.m. ET

GM is backing off its near-term expectations for its EV business. Investors should take note.

Investors looking for wins in electric vehicles (EVs) have had a brutal couple of years. Well, in its third-quarter earnings report and CEO letter to investors, General Motors (GM 0.48%) may have just issued a warning that things could get worse before they get any better.

In this video, Motley Fool contributors Jason Hall and Tyler Crowe break down GE's results, what CEO Mary Barra and the company said, and why it matters for investors across the EV space, including legacy automakers GM and Ford (F -1.92%), EV giant Tesla (TSLA -1.11%), and EV start-ups like Rivian Automotive (RIVN 6.10%) and Lucid Group (LCID 0.41%).

*Stock prices used were from the morning of Oct. 24, 2023. The video was published on Oct. 25, 2023.

Jason Hall has no position in any of the stocks mentioned. Tyler Crowe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends General Motors and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy. Jason Hall is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.