Tesla Inc CEO Elon Musk found humor on Friday in a two-year-old interview where General Motors CEO Mary Barra confidently expressed her belief that the Detroit carmaker would surpass Tesla in electric vehicle (EV) sales by 2025.
A Bold Assertion: During an interview with CNBC in October 2021, Barra proclaimed her certainty that GM would outshine Tesla by 2025, citing their robust lineup featuring the Hummer EV, Lyriq EV, Silverado EV, and more.
“I am very comfortable because when people get into these vehicles, they are just wowed. So we will be rolling them out and we are just going to keep working until we have the number one market share in EVs,” Barra confidently declared at the time.
Musk’s response to the old footage on Friday was simply, “Lmao.”
GM’s EV Sales And Strategy: By the close of 2023, GM lagged notably behind Tesla in EV sales. According to Cox Automotive data, GM marketed about 2.6 million vehicles in the U.S. in 2023, compared to Tesla’s 655,000. Notably, while all Tesla sales constituted EVs, only approximately 76,000 of GM’s total sales in the same year were EVs, largely driven by the now-discontinued Chevrolet Bolt EV/EUV models.
In October, GM retracted its EV production goals, including the 100,000 EV target slated for the second half of 2023 and the cumulative 400,000 target projected from 2022 to the first half of 2024. Nevertheless, GM remains committed to transitioning entirely to electric by 2035. In the interim, the company plans to introduce plug-in hybrid vehicles, as outlined by Barra during GM’s fourth-quarter earnings call in January.
Other Targets of Musk’s Amusement: Back in October 2011, Musk laughed off Chinese EV manufacturer BYD during an interview with Bloomberg. When asked about BYD’s competition with Tesla, Musk’s response was a chuckle followed by, “Have you seen their cars?”
However, fast forward 12 years, and the tides have turned. In the fourth quarter of 2023, BYD surpassed Tesla as the leading seller of battery electric vehicles (BEVs) with 526,000 units, while Tesla moved only about 485,000 vehicles in the same period.
During Tesla’s fourth-quarter earnings call in January, Musk issued a caution regarding the competitive threat posed by Chinese automakers. “Frankly, I think if there are no trade barriers established, they will pretty much demolish most other car companies in the world. So they’re extremely good,” Musk remarked.
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