GM's EV-first bet leaves it on sidelines of US hybrid boom
GM•GM lags as U.S. hybrid demand rises
Florida car dealer Bill Wallace says the majority of customers lately are asking about hybrid options, eager for relief from high gasoline prices.
Salespeople at his 16 dealerships — including Hyundai, Kia and Mazda — have plenty to talk about. But not at his Chevrolet and Cadillac stores. Those General Motors brands each have a broad selection of fully electric cars, but the automaker has only one hybrid model: the Corvette sports car.
GM is sitting out a hybrid boom. The top-selling automaker in the U.S. bet bigger than most competitors on electric vehicles, sales of which have fallen in the wake of anti-EV policies implemented by the Trump administration.
So far, investors have cheered GM’s focus on gas-engine trucks and SUVs, which has fueled strong profit and a near-record stock price. But its U.S. sales have declined this year, and some dealers say they are losing customers to rivals who offer hybrids.
