GM’s Electric Vehicle MELTDOWN
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Empathy for the automakers. Again, I. It’s hard to get empathy for them. I hard to get feel bad for companies that have gotten bailed out by the taxpayer. But I’ve said it before here on the program. Our government, our government has really done a number, really done a number on American automakers. Here is another CI told you so moment here on the program.
General Motors is going to be taking a $1.6 billion charge on write downs on EVs. GM has said that the end of government funded subsidies and regulatory mandates that push them into electric cars, they’re going away and they’re not going to sell them.
Again, the entire idea of in itself, know, all right, we’re gonna be completely electric by 20, what was it, 2035. I’m like, no you’re
No, you’re not. It doesn’t add up. We talked about how they were putting the cart before the horse and we don’t have the charging stations. We don’t have the electrical capacity. People aren’t going to, you know, all of sudden decide they’re going to want to all buy these cars. lousy $7,500 credit helps, but it’s nonsensical. This is not going to work. And again, GM spent billions.
dollars on this technology. Back in 2021, if you remember, GM said they were going to commit $35 billion on EVs. Yeah, new models, EV battery development, converting traditional auto factories into EV plants. Again.
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Over. Over. There’s not even cafe standards before. I made fun of these things years ago. Keep reasoning of cafe standards on cars. Okay, so you’re making these cars more expensive, more expensive. You’re not making them as nice. The interiors are crap. It was just one thing after another where the government gets involved in the private sector.
The reality is that companies will by design look to make cars more efficient if you just let them because they’re looking to compete against one another. That just happens. That is going to happen. You don’t have to tell them to do that. They’re going to do that. But then you start telling them that they have to go electric.
all of this woke green dreams on you think about you think about all of the way the billions of dollars flushed down the toilet yeah GM CEO Mary Barra again it’s 2025 right now she said this in 2021 that the company planned to have an all-electric lineup by 2035
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And some of these things, I mean, here in America, you know, with the SUVs and the pickup trucks and all of this stuff, didn’t make any sense whatsoever. again, I’ve said this before, I don’t have any problem with electric vehicles. I think they’re fine. I think that they are a great niche product. They are.
They’re great and should probably, listen, people love them. They do some amazing things. think that some of the Tesla technology is fantastic, but it’s not for everyone.
I gave this example before, a good buddy of mine, got himself a Rivian. He loved it. EV, high-end, electrics, expensive, Rivian, it’s got all sorts of bells and whistles, all this stuff. He got rid of it. Boy, he loved it. Why did he get rid of it? Well, you know, his kids are all graduated from college now and…
He and his wife are gonna be visiting them. They wanna be gone the road longer. And it’s just too much of a pain in the butt to find charging stations and everything that goes along with that.
Again, that’s an issue. That’s an issue. You have to let the market decide. As soon as you start seeing, you know, we’re gonna have to, we’re gonna put up all of these, remember Pete Buttigieg and the billions of dollars we spent on chargers around the country, none of them went up.
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None of them went up.
And you know, you would think that, you know, jeez, know, people are buying electric vehicles. Why aren’t these various different fueling stations and roadside rest areas along I-95 and various highways around the country, why aren’t they jumping all on board and actually building these things out themselves?
because you’re gonna lose money.
They’re going to lose money. So they’re not gonna do it.
Again, government always likes to put a square peg in a round hole. Step the hell away and let the market decide. Just that simple. Stop subsidizing anything. Stop picking and choosing winners and losers. What we’ve done to American auto manufacturers, it’s a sin.
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What we have done, telling them what to make, how they’re gonna do things, basically Luca Brazi making them an offer they can’t refuse. As far as the CEOs of these automakers for crying out loud, again, weak. I would have rather resigned. I would have said, know, sorry, I would have held a press conference. I’m not gonna run a company.
I’m not gonna run a company where the people in Washington DC are gonna tell me what to do. People that never built anything nor created anything at all. I’m not gonna do it. Goodbye. Take a stand.
Anyway, and this is just the beginning. Okay, this is 1.6 billion. That’s just a start in the losses that General Motors is going to take. Ford is going to take. They’re all going to have to take. I wonder if they can get together and actually sue the federal government. Watchdog on wallstreet.com
