General Motors is poised to overtake Ford as the top performer in terms of electric vehicle gross sales for the year, following consecutive monthly records in July and August. Will General Motors surpass Ford’s electric vehicle sales with the introduction of its latest models such as the Chevy Equinox and Blazer EVs?
Can General Motors surpass Ford after consecutive records of electric vehicle gross sales?
Following a strong first-quarter performance, General Motors delivered 21,930 electric vehicles (EVs) throughout the entire second quarter, roughly matching its impressive output over the preceding two-month period.
General Motors delivered approximately 21,000 electric vehicles to customers across the United States over the past two months, according to newly released sales data. In August, General Motors’ electric vehicle (EV) gross sales skyrocketed approximately 70 percent compared to the same period a year earlier.
Gross sales surge for General Motors as the company expands its electric vehicle (EV) lineup across key segments, including affordable and premium options.
Rory Harvey, General Motors’ president of global markets, announced that the company currently boasts the most comprehensive electric vehicle (EV) lineup of any manufacturer operating in the US market.
While Harvey thinks General Motors (GM) is “positively outpacing” the industry in terms of electric vehicle (EV) development, his statement may be somewhat subjective, as other automakers are also investing heavily in EV technology and production. While still trailing market leader Tesla, General Motors is narrowing the gap with competitors Ford and Hyundai.
General Motors remains approximately 20,000 electric vehicles behind Hyundai Motor Group’s combined total, but is only about 2,000 units away from surpassing Ford’s EV sales.
In July and August, Hyundai and Kia collectively offered approximately 21,760 electric vehicles on the market, while Ford provided around 17,876 units and General Motors supplied roughly 20,948 EVs.
During the first eight months of the year, Hyundai and Kia maintained a strong presence in the US electric vehicle market, ranking second with approximately 83,643 units sold, trailed closely by Ford with 62,056, and General Motors placing third with 59,303.
Momentum constructing
“We’ve finally gained traction,” Harvey said. “We expect robust growth in electric vehicle adoption by year-end, with General Motors’ president of global markets predicting the company will secure a disproportionate market share in this rapidly evolving space.”
General Motors’ optimistic forecast emerges alongside surging demand for innovative models like the Chevrolet Equinox, Blazer, and Silverado Electric Vehicles.
The Chevrolet Blazer EV (left), Chevrolet Equinox EV (center), and Chevrolet Silverado EV (right) (Source: GM).
Can Cadillac’s luxury brand see a surge in electric vehicle demand? In the second quarter, Cadillac delivered nearly 7,300 Lyriq electric vehicles, significantly contributing to General Motors’ overall electric vehicle sales. The luxury brand is set to expand its electric vehicle (EV) portfolio by introducing not one but two new models – the Escalade and Optiq – before the end of the year.
General Motors’ electric vehicle portfolio now spans a wide range of models, with price tags varying from approximately $35,000 to over $300,000, reflecting the diverse offerings in its brand-new EV fashion collection. Compared, Tesla’s least expensive car, the Model 3, starts at around $39,000, while the Cybertruck anchors the top of the lineup at $100,000.
Hyundai Motor’s electric vehicles, encompassing those of its subsidiaries Kia and Genesis, span a wide price range, from approximately $34,000 for the Hyundai Kona Electric to around $80,000 for the Genesis G80.
Although General Motors was an early pioneer in transitioning to electric vehicles, it is now backing off from several of its ambitious targets. Although General Motors initially aimed to cease selling gasoline-powered cars by 2021, CEO Mary Barra reveals that this goal has been adjusted to be driven by customer demand instead.
General Motors has postponed various initiatives alongside its revised aim to manufacture one million electric vehicles by 2025. The corporation has adjusted its strategy to manufacture between 200,000 and 250,000 electric vehicles (EVs) this year, a significant decrease from its initial target of producing over 300,000 units.
Electrek’s Take
By year’s end, will General Motors surpass Ford and Hyundai in electric vehicle (EV) gross sales within the United States? Ford’s recent stumbles, coupled with the cancellation of its three-row electric SUV, may present an opportunity for General Motors to gain an upper hand over its US competitor by the end of 2024.
Meanwhile, another challenge lies in surpassing Hyundai itself. Hyundai is set to commence production at its state-of-the-art Metaplant America facility.
By the end of this year, Hyundai intends to introduce its three-row electric SUV, the IONIQ 9, in the US market. As Kia’s three-row EV9 ignites a trail of interest, Hyundai anticipates a surge in demand for its own larger electric sport utility vehicle.
As the battery production capacity increases at the new plant over the next 12 months, Hyundai anticipates its electric vehicles built there will meet the requirements to qualify for the $7,500 federal tax credit, putting it on par with competitors General Motors and Ford?
The end-of-year review is just around the corner, and we’re counting down the final days until we discover the year’s top achievements. Outside of Tesla, Volkswagen is likely to finish 2024 with the most electric vehicle (EV) sales. GM, Hyundai, or Ford? You want me to improve a given text in a different style as a professional editor and provide the revised text directly without any explanation or comment. If I’m unable to make improvements, I should return “SKIP”.
