General Motors has climbed to second place in electric vehicle sales in the United States, with more than 300,000 units sold since 2016, and more than 370,000 in North America. With Tesla sales stagnating, the time has been right for GM to grow its customer base with an expanded range of 100-percent electric vehicles.
A tight race: GM overtakes Hyundai and nips at Tesla's heels
GM has recently taken a significant lead over Hyundai, which currently offers three electric models (a fourth is expected in 2025). To build this momentum, GM has been adding new electric vehicles to its range, a crucial strategy for increasing market share.
GM and Tesla: competition… and complementarity
Although Tesla retains the top spot in the US electric vehicle market, access to Tesla's supercharger network is now available to all GM models, a clear advantage for customers of both brands. However, with increasing competition, GM knows that catching up with Tesla will be a long road ahead.
A diversified electric range at GM
GM currently offers eight electric models across its Chevrolet, GMC and Cadillac brands. Among them, the Chevrolet Equinox EV and Silverado EV stand out, the latter offering an exceptional range of 492 miles (about 724 km). Cadillac's commitment to becoming an exclusively electric brand by 2030 is a testament to GM's long-term ambition; the luxury brand is about to launch the Escalade IQ and Optiq EVs, with the Vistiq set to follow in the coming months.
Sustainable growth for GM
Despite a late start in 2016 with the Chevrolet Bolt, GM is recording steady growth in EV sales, even though Tesla remains well ahead with over 654,000 units sold in 2023 in the US.
This consistency in GM’s sales growth, in the face of a rapidly changing market, bodes well for the automaker, which aims to stand out with its offer of models that meet the varied expectations of consumers.
GM clearly looks set to maintain its momentum in the short term, not least because of the strong performance of the Equinox EV. However, in an increasingly competitive sector, time will tell whether GM can consolidate its position as runner-up to Tesla.