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Mary bar has assured investors that General Motors is going to sell a lot more electric cars next year and I mean a lot more she's saying GM are going to ramp EV sales and production next year to Historic levels but what I'm curious here guys is Mary says that her basically being the highest paid Automotive CEO in the world outside of course of Elon Musk and Peter rollinson who to be honest because they are owners of the company is a different story she says that her salary the reason she's the highest paid CEO in the world was because of performance should Mary continue to be the highest paid Automotive CEO in the world if General Motors doesn't produce EVS like they say they would basically like they say they are now or is that just a reasonable thing that she should be paid 36 million a year regardless of whether the General Motors does anything even remotely close to what Mary has been promising now for years hello my friends welcome to the channel I'm Sam Evans you're watching the electric Viking General Motors EV production this year will be approximately 50% of what it promised now if Tesla produced 50% of the cars at promis Tesla had put in a guidance at the beginning of the year of 1.8 million deliveries might get 1.75 might get 1.8 but it'll get pretty close but if Tesla said it was going to deliver 1.8 million cars this year and it delivered 900,000 well I'm pretty sure there'd be a lot of pressure a lot of media stories strangely the media not mentioned a word almost nothing has been said about the fact that General Motors publicly promised EV production on Oprah on CNBC on all those different media channels over the past two years that hasn't eventuated pretty much at all now Mary has promised that GM's eveve production will rebound enormously she said significantly higher next year and she expressed disappointment at the company's share price saying it doesn't get the credit it deserves it's true that if You' invested in General Motors 10 years ago you'd have 21% less money than uh you did then so that sucks because a lot of people have a lot of people have invested in General Motors they've been burned guess what one of those people was the most famous investor in history the wealthiest investor in history that's Warren Buffett from Burkshire hathway he invested in General Motors around 10 years ago and guess what the worst investment he ever made General Motors I mean this is the only company that Burkshire hathway have just completely dumped stock of within a short period of time I mean they had a big ownership in GM put it this way Burkshire hath away what 50% of their portfolio is in Apple stock 50% so the fact that they had billions invested in General Motors and dumped every single cent of it this year gives you an idea of what investors are thinking Mary doesn't tell the truth that's a fact that's simply an objective reality now if you're say promising something and you try to get there and you get close I think that's reasonable but if you promise something that I think you probably privately know is never going to even remotely have any chance of happening like Toyota with its solid state batteries back in 2014 that's a different story but what do you guys think let me know I'm being too harsh let me know what let me know what you think in the comments below General Motors boss Mary Barett has acknowledged that GM has fallen short on their EV promises this year but expects production of EVS to rise enormously in 2024 more recently speaking on a call with analyst bar expressed confidence in the company's EV portfolio and insiding the company sh share price dropping roughly 50% over the past 2 years asserted that the market isn't giving GM the credit that it deserves it's not fair I mean investors just don't see what General Motors are doing frankly we didn't execute well this year as it relates to demonstrating our EV capability she said I'm very confident with the EV portfolio that we have and the work that we've done to deliver significantly more old TM based products that customers I think would really appreciate it's true that uh GM has increased its Altium deliveries by 200% in the third quarter this year for a grand total of 1,000 per month she said EV production will be significantly higher in 2024 but even if Alm production was to grow by 200% EV sales would still be minuscule for General Motors while discussing the company's current share price bar said that GM's moves to exit underperforming businesses as in leave markets and countries where the company was not selling well or losing money develop its Altium o EV platform which is not really that Altium to be honest improve its internal combustion vehicle portfolio invest in V8 engines developing further V8 engines in internal combustion engines invest in hydrogen production um not things General Motors mentioned very publicly by the way she said though these things are not being fully appreciated by the market but in reality it positions itself ahead of competitors the market doesn't who's right Mary or investors Warren Buffett burshire Hathaway or Mary bar because we started this EV Journey earlier we are much farther along than the market is giving us credit for said Mary this work will really never stop we will continue continue to optimize before adding that the brand share price is disappointing to everyone most of all probably to Mary because Mary's compensation or salary basically does depend partially on a GM stock price if GM was well for example if General Motor stock hadn't have harmed by 50% Mary would have made Millions more in compensation general motor says it has or will have the capacity though to build 1 m ion EVS in North America Alone by the end of 2025 but in October it revealed it will no longer provide incremental EV production targets so Mary Barett and General Motors have scrapped the EV production targets they publicly went on all these different TV shows and had these really kind of slightly aggressive interviews with people saying they promised to beat Tesla in 2025 by building 1 million EVS they then changed that to having the capacity to build 1 million EVS they're now saying they're scrapping production targets period and actually is telling investors should believe in the company they're doing so much better than investors give them credit for um maybe scrapping targets is something investors are concerned about maybe speaking with analysts barah said that GM will spend hundreds of millions of dollars less at its Cruise autonomous driv unit next year then in 2023 due to the firm narrowing of its focus in the wake of the October 2 accident and the Nationwide paes in its testing of self-driving Robo taxis but she didn't mention the fact that that was the time when the world found out the crew Robo taxis weren't really Robo taxis that human beings were having to take over and drive them every 2 to four miles that's not exactly the product that General Motors told us it was you can see why Warren Buffett has had enough what are your thoughts thanks for watching
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