“Third, EV volumes are expected to build sequentially every quarter to achieve our full-year target of 200,000 to 250,000.”

In context

“r the balance of the year. I'd also like to address why the implied second-half EBIT adjusted is around $2.5 billion lower at the midpoint of our guidance range, compared to the first-half. There are three main reasons. First, we are assuming a bigger pricing headwind. Our guidance assumes pricing to be down 1% to 1.5 year-over-year in the second-half versus essentially flat in the first-half, which is a substantial improvement from where we started the year. Second, roughly $1 billion of costs are second-half weighted. This includes about $400 million higher marketing spend to support more launches in the back half of the year. The remainder is related to higher commodity prices, particularly copper and aluminum, and the timing of other EV costs, which we do not anticipate to be ongoing. Third, EV volumes are expected to build sequentially every quarter to achieve our full-year target of 200,000 to 250,000. We produced and wholesale 75,000 GM Ultium EVs in the first-half of the year, and expect this number to accelerate as we launch and ramp our new vehicles. As a result, mix will be a bigger headwind in the back half of the year, as EVs have a variable profit lower than the portfolio average. We continue to monitor EV demand and inventory levels very closely. We acknowledge that Ultium wholesales outpaced customer deliveries by about 2% to 1% for the first-half of the year. This however is common when introducing a new vehicle given the need to build availability, options, and customer awareness. As time goes on, if customer deliveries were to continue lagging wholesales, we will take proactive steps to balance production levels. The last item on EVs is that I'm pleased to report that we ar”