America's Beloved SUVs Won't Always Guzzle Gas
GM gave up on sedans to go all in on light trucks and electric vehicles. What happens when pickups and crossovers plug in, too?
Rivian’s R1T electric pickup.
Photographer: Patrick T. Fallon/Bloomberg
General Motors Co. announced this week that it will be closing factories and laying off thousands of workers as it shifts its focus to light trucks, crossovers and electric vehicles. Its current investment strategy reflects the reality of U.S. consumer preferences; its future strategy is a bet that electric cars are here to stay.
As my Bloomberg Opinion colleague Justin Fox noted earlier this week, “the U.S. vehicle market has come to be dominated by sport utility vehicles and pickups to an extent never before seen.” In an auto market that has posted flat sales for the past four years, light trucks (which include sport utility vehicles) make up more than two-thirds of total purchases.