While some manufacturers are struggling to sell their EVs at the rate they had forecast - think Mercedes-Benz, among others – other carmakers are starting to see encouraging upswings. General Motors (GM) is racking up new highs in EV sales figures each new quarter.
The numbers for the third quarter just ended show that the brand's electric models have the wind in their sails. The introduction of new EV models is part of the reason, and it's easy to understand why the results are up and the general mood at GM is on the up… and up.
The figures
GM sold 32,095 electric vehicles between July and September of this year. That’s the best quarter ever recorded by the manufacturer in the EV sector. Transactions increased by about 40 percent compared to the second quarter, during which the manufacturer had sold 21,930 electric vehicles. And that's an even bigger jump from the first quarter of this year when GM sold 16,425 EVs.
The automaker’s market share in the EV segment in the U.S. has increased from 6.5 to 9.5 percent, from the first to the third quarter of this year.
And imagine, the Chevrolet Bolt EV isn’t even part of the company’s offering anymore. GM actually sold 168 units of that defunct model from July to September as dealers cleared out their inventories. When the Bolt returns in 2026, it will help drive sales growth further.
Right now, the big driver for GM is the new Chevrolet Equinox EV. In Canada, that model has surpassed the Tesla Model 3 for discount applications under the federal government’s iZEV program. It is proving popular in the U.S. as well, thanks to its accessible price point and anxiety-busting range.
Chevrolet is also selling significant numbers of Silverado EVs. Sales fell somewhat between the second and third quarters (2,196 versus 1,995), but the arrival of a more affordable version and the debut of the electric version of the GMC Sierra will breathe some life back into the segment.
Even the GMC Hummer EV, in all its opulence, is playing its part. It’s on track to exceed 10,000 units sold this year. In the third quarter alone, it recorded half of its results so far for the year.
Over at Cadillac, the Lyriq is on track for 20,000 transactions this year. It will soon have company, as Cadillac is launching the Optiq, Escalade IQ and Vistiq in the next few months, which will further charge up sales. Watch for the report on Auto123 of our first introduction to the Vistiq, as we’ll be in Detroit early next week for its presentation.
With its diverse model lineup offered in different price ranges, GM is showing that it has the right electric strategy. Things can change in these volatile times, of course, but right now the folks at GM are surely happy to be in their position and not that of some rivals.
