General Motors is setting its sights on a significant market share gain within the US electric vehicle (EV) market, fueled by a remarkable 60% surge in gross sales during Q3 compared to the prior year. As General Motors continues to roll out new electric vehicle models like the Chevy Blazer, Equinox, and Silverado EVs across the country, it appears that they are poised to surpass their main competitor, Ford, in market share by the end of 2024.
As General Motors’ “EV for everybody” strategy is finally being rolled out, electric vehicle sales are experiencing a significant surge. General Motors delivered 32,095 electric vehicles within the US during the third quarter, marking a significant surge of 60% compared to Q3 2022 and 46% growth versus the previous quarter.
Rory Harvey, General Motors’ executive vice president of global markets, explained that their electric vehicle (EV) portfolio is growing faster than the market due to the fact they now have an all-electric car for almost everyone.
As a result of its robust Q3 performance, General Motors is poised to claim nearly 10% of the electric vehicle (EV) market share in the US. General Motors’ market share of electric vehicles in the United States surged to 9.5% during the third quarter, a significant increase from the 7.1% recorded in the second quarter and the 6.5% achieved within the first three months of 2024.
Across GM’s entire portfolio of brands, significant advancements were made by all electric vehicles (EVs) during the third quarter. Cadillac reported a significant surge in Lyriq sales, with 7,224 units sold, representing a substantial 139.4 percent increase year-over-year?
General Motors’ positive aspects in the electric vehicle (EV) market share in Q3 with new fashion trends.
According to General Motors, the Cadillac Lyriq outpaced all electric vehicle offerings from its luxury counterparts, including BMW, Mercedes-Benz, Audi, and Lexus, in terms of sales.
General Motors further stated that the Lyriq is the inaugural vehicle from a full-line luxury brand to achieve this milestone, boasting sales of more than 20,000 electric vehicles as of 2024 thus far.
Cadillac is poised to complete its global luxury SUV portfolio by introducing the electric Escalade IQ and VisIQ models later this year.
Chevrolet’s latest advancements in electric vehicle technology are making waves across the industry. General Motors delivered 7,998 Chevrolet Blazers, 9,772 Equinox models, and 1,995 Silverado Electric vehicles in various fashion styles. General Motors has announced that the budget-friendly Silverado EV LT model will hit the market this fall.
The all-new 2025 Chevrolet Blazer EV has officially hit the market this week. The vehicle’s original price had an initial value of $45,995 with varying costs and a subsequent drop in value. While eagerly anticipated, the new $35,000 Equinox is finally expected to arrive at dealerships soon.
General Motors Company reported significant gains in electric vehicle (EV) sales for the third quarter. More than 4,300 GMC Hummer EV pickups and SUVs have been handed over to customers. Prior to its official release in August, General Motors Company’s GMC division quietly introduced 387 Sierra Electric Vehicle (EV) pickups onto the market.
New electric vehicles are attracting customers away from competing brands. According to General Motors, more than half of electric vehicle customers are first-time buyers of the brand’s models.
Despite surging electric vehicle (EV) sales, General Motors’ overall deliveries declined by 2% in the third quarter, with a total of 659,601 vehicles sold in the US market.
Electrek’s Take
As General Motors successfully brings its vision of an all-electric automobile for the masses to life, the payoff is finally being realized. The auto manufacturer re-launched its “Electric Vehicles for Everyone” strategy in 2022, with the effects of this effort slowly starting to materialize.
As electric vehicle trends emerge across the country, General Motors is capitalizing on the momentum to expand its presence in the domestic market. Won’t it be sufficient to rival Ford and Hyundai Motor (alongside Kia) effectively?
Hyundai provided details on its sales performance for the third quarter, reporting that it had sold 13,255 units of the Ioniq 5 and 6 variants, but did not break down the figures for the Kona Electric model. Meanwhile, Kia’s three-row EV9 SUV is experiencing strong demand within the US, with around 16,000 units allocated for 2024. South Korean automaker Kia reported a total of 11,343 electric vehicle (EV) sales in the third quarter, comprising various models including the EV9 and EV6.
What are you looking for? As Ford releases its Q3 gross sales figures, we’ll determine which automaker claimed the second spot in the US EV market, trailing only Tesla.
General Motors surpassed Ford as the leading electric vehicle (EV) seller in the US during the third quarter, with Ford offering 23,509 EVs during this period. General Motors has become the second-best selling electric vehicle model in the US, trailing only Tesla, after offering 70,450 fashion options as of September, outpacing Ford’s 67,689 units during the same period.
