What Happens After GM Just Started The EV Price War

Skeptical investors mistakenly thought that inflation would hurt automotive stocks. Instead, General Motors (GM) bottomed last Nov. 2023 at $26.30. GM stock closed at $39.50 last week and is in a good position to retake over $40.

GM is rekindling its electric vehicle segment by restarting sales of the Chevy Blazer electric vehicle. It is offering customers a generous 10% discount. This should make up for the unfortunate software and charging issues. Additionally, General Motors upgraded the software to improve features and functionality. Assuming that the company listened to its early owners by addressing their feedback, Blazer sales should improve.

GM is pricing the Chevy Blazer LT AWD at $50,195, down from $56,715.

Stellantis (STLA), whose stock touched a 52-week high, launched an all-electric Charger muscle vehicle. While the 670 horsepower is impressive, the stock performance is even more of an achievement. The firm is not engaging in a price war.

Tesla's EV price cuts earlier this year should stimulate demand. However, Tesla's new Roadster is at odds with its line-up. CEO Elon Musk claimed that the Roadster would reach from zero to 60 mph in under one second. This is a mind-blowing acceleration rate that is also impractical.

Tesla's Roadster might attract rich customers who might otherwise have bought a Ferrari (RACE), Lamborghini (POAHY), or a Lucid Group (LCID) luxury vehicle.

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