GM EV pricing: Focus on long-term customer acquisition

“We really look at each customer, each segment, and the willingness to do that is a little different,” he said. We must continue to be an automaker that reduces friction when purchasing our EV products through our products.”

GM will roll out more nameplates on its own Ultium battery platform next year, Chevrolet Volt EV Built on GM’s old battery architecture and the GMC Hummer EV pickup. Cost $112,595 Includes first edition postage.

CEO Mary Barra told investors this month that the Cadillac Lyriq midsize crossovers already on sale and the upcoming Chevy Equinox, Blazer, Silverado, and GMC Sierra EVs are “our EV growth strategy through 2025. It is core and important to

GM’s job is to “provide a really good car at the right segment price, and it won’t cost you more than what you paid to get into the ICE segment,” Royce said. and it’s our job to do it at margins similar to, or possibly even higher than, what we did with ICE vehicles…be opportunistic or temporary in pricing is not our job. Here we are. We are in the long game and intend to create customers for life.

Automakers are also keeping an eye on reservations so they don’t have to raise prices for consumers waiting in line, executives said. CFO Paul Jacobson told investors that the Cadillac Lyric only attracted reservations for one model year, despite the higher demand, because it couldn’t predict the demand.