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Not all sales are equal, and that phrase is especially true for what was once the unacknowledged side of the automotive industry: Fleet sales. Once upon a time, Detroit automakers such as Ford Motor Company (NYSE: F) and General Motors (NYSE: GM) filled excess production capacity with fleet sales, which were low-margin bulk sales to companies such as Hertz (NASDAQ: HTZ), among other large buyers.
Yahoo Finance Live discusses General Motors’ plan to partner with Google for EV assistance after dropping its partnership with Apple CarPlay.
Soaring shares in charging company EVgo offer some respite for investors who suffered through a rough 2022. EVgo is still unprofitable. Investors are looking for any sign that EVgo, and charging networks in general, are poised to explode in growth.