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"Hybrid is a great alternative to a pure electric vehicle (and) it's an easier sell to a lot of customers." Interest in hybrids is rebounding as consumer demand for pure electrics has not accelerated as quickly as expected. Sales of pure electrics will claim about 37%, leaving combustion vehicles — including so-called “mild” hybrids — with a nearly 40% share. In addition to new pure electric models coming soon, "we are very bullish on hybrids going forward," a spokesperson said. Hyundai and sister brand Kia offer seven hybrid models, with Ford and Lincoln six.
Persons: Mike Blake, Tim Ghriskey, Ingalls, Snyder, , Sam Fiorani, Ford, Jim Farley, ” Farley, , Stellantis, GlobalData, ” Stellantis, Andrew DiFeo, Augustine, Biden, “ I've, I've, Paul Lienert, Ben Klayman, Nick Zieminski Organizations: Toyota, Los Angeles Auto, REUTERS, Rights, Ford, Reuters, AutoForecast Solutions, P Global, General Motors, Chrysler Pacifica, U.S, Lexus, Hyundai, Kia, Lincoln, Chevrolet Corvette, Thomson Locations: Los Angeles , California, U.S, America, New York, St, Jacksonville , FL, Detroit
DETROIT, Oct 25 (Reuters) - General Motors Co (GM.N) on Tuesday reported a higher quarterly profit, and reaffirmed its full-year outlook. The automaker reported net income of $3.3 billion, compared with $2.4 billion a year earlier. The automaker said higher volume in the quarter drove a $5 billion gain, with higher prices contributing a $2.1 billion gain, offset by $3.6 billion in additional logistics costs. GM said it has received 170,000 reservations for the new Chevrolet Silverado EV pickup, which arrives at U.S. dealers next spring. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ben Klayman, Paul Lienert and Joseph White, Editing by Louise Heavens, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.
DETROIT, Oct 25 (Reuters) - General Motors Co (GM.N) shares rose almost 5% in premarket trade on Tuesday as the company reported a higher quarterly profit that beat analysts' estimates. GM reaffirmed its guidance for full-year net income of $9.6 billion to $11.2 billion, and full-year diluted earnings per share of $5.76 to $6.76. Diluted earnings per share in the third quarter of $2.25 topped estimates of $1.88. Register now for FREE unlimited access to Reuters.com RegisterThe automaker reported net income of $3.3 billion, compared with $2.4 billion a year earlier. The automaker said higher volume in the quarter drove a $5 billion gain, with higher prices contributing a $2.1 billion gain, offset by $3.6 billion in additional logistics costs.
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