GM EV sales more than double, boosting third-quarter totals
Published in Automotive News
General Motors Co. more than doubled its electric vehicle sales in the third quarter compared to the same period a year ago, while increasing its overall U.S. sales by 7.7%.
The Detroit automaker sold 710,347 vehicles — the most of any automaker — in the July-September period. That included 66,501 EVs, which were up 107% year-over-year. The increase came as the up-to-$7,500 federal tax credit for plug-in vehicles expired on Tuesday, generating a burst of EV buying activity in its final months available. GM and rival Ford Motor Co., however, have concocted a way to continue offer taxpayer-funded discounts into the fourth quarter.
The results outpaced dealer services provider Cox Automotive Inc.'s expectations that the company's sales would increase 7.1%, as demand for SUVs and full-size pickups fueled transactions and automakers resist price hikes in the face of tariffs imposed by President Donald Trump.
“No one is in a stronger position for a changing U.S. market than GM," Duncan Aldred, GM senior vice president and president of North America, said in a statement. "We have the best lineup of ICE and EV vehicles we’ve ever had, and our brands have grown market share with consistently strong pricing, low incentives and inventory."
Ford Motor Co. third-quarter sales rose 8.2%, and EVs were up 30%.
Buick was the only GM brand to decline in the past three months with sales falling 14% compared to the same period in 2024 from drops in Envision and Encore GX sales. Cadillac rose 25%, Chevrolet increased 8.3% and GMC was up 8.6%. GMC has its best current year-to-date sales.
GM's top sellers were Chevrolet Silverado trucks, GMC Sierra trucks and the Chevy crossover SUVs Equinox and Trax, highlighting strengths in affordable EVs and full-size pickups.
Year-to-date, GM reported a 105% increase in EV sales compared to last year. The Equinox EV topped GM's latest electric sales, with more than 25,000 sold in the third quarter. Recent Cadillac launches of the new Escalade IQ, Optiq and Vistiq also increased EV sales over last year.
To help transition from the government support, GM and Ford rolled out programs to their dealers ahead of the expiration of the tax credit that had the companies' financing arms purchase EVs in dealers’ inventory by making down payments on them. That means the discount can be offered on EV leases of existing stock into the fourth quarter.
Elsewhere, Kia Corp. recorded a best third quarter for U.S. sales, up 9% year-over-year. Hyundai Motor Co. had a record third quarter, up 13%, and EVs doubled.
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