GM And Ford Just Beat Tesla At Its Own Game

General Motors (GM) and Ford have outperformed Tesla in terms of revenue and net income for their first quarter. Despite Tesla's market value being over $517 billion, analysts predict that GM's profit will rise 23% this year while Ford's remains flat. In contrast, Tesla's profit is expected to plunge 17%. The difference lies in consumer demand, with hybrid vehicle sales outpacing electric vehicles (EVs). As a result, automakers are adjusting their EV growth plans and focusing on hybrid models instead.