General Motors has secured the spot as the second-best selling electric vehicle (EV) model in the US market, surpassing Ford in the third quarter’s sales rankings. As electric vehicle prices decline, General Motors seized the opportunity to take a swipe at its competitor, stating that it “won’t let a clandestine team develop affordable EVs.”
General Motors surpasses Ford to become the second-largest electric vehicle (EV) seller in the US.
At its 2024 Investor Day on Tuesday, General Motors proudly declared itself the second-largest electric vehicle (EV) supplier in North America.
Following a successful promotion, General Motors officially surpassed Ford by selling 32,095 electric vehicles in Q3 alone, solidifying its position as market leader through the first nine months of 2024. Through September, General Motors has sold 70,450 electric vehicles in the US, outpacing its rival Ford which has sold 67,689.
Ford’s electric vehicle (EV) gross sales also increased, albeit at a significantly slower pace. The company purchased 23,509 electric vehicles during the third quarter, a 12% increase from the same period in 2023, yet slightly below the nearly 24,000 units sold in the preceding quarter of 2024.
General Motors notified customers on Tuesday that its latest fashion offerings are contributing significantly to the surge in electric vehicle sales. With a robust electric vehicle (EV) portfolio, probably the largest in its industry, the company is successfully claiming market share from its competitors.
Our portfolio encompasses a diverse range of vehicles, including affordable options like the Chevrolet Equinox, as well as high-end electric vehicles (EVs) such as the Cadillac Lyriq, and innovative electric pickups like the GMC Hummer EV, Chevrolet Silverado EV, and GMC Sierra EV.
General Motors showcases its Chevy Silverado (left), Equinox (centre), and Blazer electric vehicles recharging at a Tesla Supercharger station.
New fashion trends are fueling demand while lower prices are becoming increasingly important.
General Motors will initiate a rollout of new electric vehicles, including the highly anticipated Cadillac Vistiq and Optiq models. The Chevrolet Bolt EV’s revival is set to take place by late 2025.
General Motors’ President, Mark Reuss, has officially announced that the next-generation Bolt Electric Vehicle (EV) is set to hit the market within the next 12 months. According to Reuss, the company is introducing a new model that will form part of its “Bolts” family, which includes a more affordable option. Initially priced slightly higher than the starting MSRP of $28,785 for the Bolt EUV, this variant offers faster charging capabilities. According to Reuss, the forthcoming Bolt is poised to generate significant revenue for General Motors, positioning itself as a lucrative venture for the automaker.
The introduction of cutting-edge, high-tech fashion trends is poised to fuel increasing consumer interest and drive demand. General Motors maintains that its electric vehicle (EV) economic performance will improve as production volumes rise, citing, “As we approach the tipping point for EV gross profit margins to become profitable.”
General Motors notes that electric vehicle (EV) costs are decreasing due to a decline in the price of battery cells. Consequently, General Motors reported a reduction of more than $2 billion in manufacturing costs over the past two years.
The correct order from left to right is: 2025 GMC Sierra EV Elevation, 2025 GMC Sierra EV AT4, and 2024 GMC Sierra EV Denali.
As Ford assembles its “skunkworks” team in California, comprising former Tesla, Rivian, and Apple executives crafting an affordable platform, General Motors claims to be already ahead of the curve.
Touting their ability to develop affordable electric vehicles without secretive “skunkworks” efforts, Reuss remarked, “We already know the recipe; we just need to apply it.”
Regardless of whether GM achieves its electric vehicle (EV) manufacturing objectives, the company still anticipates its EVs will generate positive variable profitability by the end of 2024.
As part of its future strategy, General Motors is poised to discontinue using the Ultium brand for its batteries and instead introduce novel chemical compositions to drive down costs.
The Chevrolet brand debuted its highly anticipated entry-level 2025 Silverado EV LT on a Monday. The all-new electric pickup options boast an impressive range of over 400 miles, starting at a competitive $75,195 base price.
