“As I said, we're launching a wide range of SUVs that will have automotive gross margins up to five points higher than the models they replace.”

In context

“ace of our EV acceleration in 2024 and 2025 to maintain strong pricing. The new launching timing at Orion Assembly also enables us to make engineering and other changes that will make the trucks more efficient and less expensive to produce, and therefore more profitable. Let's dig a little deeper into the steps we're taking with our ICE portfolio to keep margins and EBIT strong in a very competitive environment. Over the last several years, we have bolstered our position in high-margin segments, including full-size pickups, full-size SUVs, and large luxury SUVs. We did this by managing capacity to meet demand, expanding the range of premium trim series that we offer, and with innovations like Super Cruise and the MultiPro Tailgate, and factory-lifted trucks. And we're not going to let up. As I said, we're launching a wide range of SUVs that will have automotive gross margins up to five points higher than the models they replace. The first two are the Chevrolet Trax and Buick Envista. These affordable small SUVs are rapidly gaining market share, and more than 50% of the Chevrolet Trax customers are new to GM. Then, in the first-half of 2024, we begin launching the new Chevrolet Traverse, GMC Acadia, and Buick Enclave, followed by the next generation of the ICE Chevrolet Equinox and GMC Terrain, which begin launching mid year. Here are the profit drivers. First, they are in growth segments. The larger SUVs compete with in a segment that we expect to grow by 25%, to three million units, over the next three years, and the smaller SUVs compete in the industry's largest segment, which we expect to grow 9% to 3.4 million over that same period. Second, they're outstanding products. They offer more comfort and interior ro”