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GM: US Becomes Shelter for Car Makers
Paul Jacobson, Chief Financial Officer of General Motors, clarified that the U.S. market has become the main destination for global automakers facing stiff competition and pressures from Chinese competitors in their foreign markets. The company anticipates a significant increase in competitiveness within the American automotive sector, as it aims to reduce operational costs and develop low-cost, high-profit electric vehicles. Additionally, GM has been successful in selling 700,000 vehicles last year at prices below $30,000, in a market where the average new car price exceeds $50,000. Global companies such as Volkswagen, Stellantis, and Toyota are working to strengthen their presence in the U.S. market to offset declining sales in China and falling profits in Europe and other regions, supported by US tariff pressures that have spurred investments within the United States.
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