DETROIT—Detroit automakers General Motors Co. and Ford Motor Co. will try to convince Wall Street when they release first-quarter earnings this week that they will not be dragged into a price war with electric vehicle maker Tesla Inc..
So far, investors remain unconvinced. Shares in GM are down more than 20 percent from their 2023 peak in February, and are trading close to their 2010 IPO price of $33 a share. Ford shares are down 13 percent since February as Tesla CEO Elon Musk has escalated a strategy of squeezing his company’s profit margins to expand sales volume.
