With North American automakers due to report their 2018 vehicle sales, reports reveal that General Motors exceeded 200,000 total electric-vehicle sales during the year just ended. That would mean GM would face a cut in the federal tax credit available to EV buyers, from $7,500 currently to $3,750 in April, and then to $1,875 in October. The credit would expire entirely in April 2020, unless the tax rules are revised.
Currently, GM offers the Chevrolet Volt plug-in hybrid vehicle; and the Chevy Bolt battery electric vehicle. Both have been somewhat updated for the 2019 model year.
GM had reported during the Q4 2018 that it expected to pass the 200,000-unit mark, and Reuters recently confirmed the result, without identifying its source.
One reliable forecast pegs December U.S. auto sales rising less than 1.0% in December, largely thanks to annual fleet transactions. All three U.S. automakers are expected to post declines in sales for 2018, with another market forecast putting total December sales down 1% year-over-year.
Analysts expect GM’s monthly sales figure to be flat, with Ford Motor Co. sales down 7.5% but Fiat Chrysler Automobiles posting a 15% increase for the month.
The sales figures are only part of a troubling outlook for the U.S. automakers, with consumers apparently challenged by pricing (aka, the "price/mix") and rising interest rates, raw material costs rise, and other design and production challenges inhibit new car sales.