00:00I think it's more of the same from GM here, where they've really been executing with sort of the old school technology,
00:07the great big pickups and SUVs that has long been their sort of calling card.
00:14And we've seen sort of slow and steady progress on the electric vehicle front until recently.
00:20I think we've seen some concerns, of course, about just how much that unwind will be disruptive for the Detroit automakers,
00:30both GM and Ford. And yet I think GM was much better positioned than Ford in terms of having the scale to where
00:38its electric vehicle business is less of a loss making aspect of the company.
00:44And so while we'll see some dialing back of production of those vehicles because of a sort of less receptive environment,
00:52it's going to be less dramatic than what we've seen at Ford.
00:56And meanwhile, just more and more of these, you know, trucks and SUVs that are their specialty,
01:01you know, the demand for those have been incredibly strong.
01:05Craig, they just missed where the consumer was going to be.
01:07You and I have been talking about this now for a number of years.
01:10Do you think we're overstating the importance of the EV credits?
01:13I know they're material. But, Craig, ultimately, was that the direction of travel anyway?
01:17Why? Yeah, I think, you know, the going away of EV tax credits is a huge deal for certain manufacturers.
01:25I mean, you know, the Teslas and Rivians and Lucids of the world that are entirely, you know,
01:32tied to the battery electric vehicle market.
01:34This is hugely problematic for them in the U.S.
01:39And I think what we're going to see from GM is, you know, some changes in terms of how many of these electric vehicles they make in the near term
01:47because of those credits going away, because of other forms of support, you know, falling by the wayside.
01:54Also, just less pressure from a regulatory perspective where, you know, fuel economy and emissions regulations have been gutted.
02:00And so, you know, they're they're able to, you know, just kind of keep ramping up that that truck and SUV production.
02:08And, you know, Americans are able to buy as many of those as they wish.
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