GM EV Sales Slump Pulls U.S. Sales Down Again

General Motors is facing another quarter of lower U.S. sales as weaker demand for its electric vehicles weighs on the automaker despite continued strength in pickups and small crossovers. GM sold 670,974 vehicles in the United States in the third quarter, down 5.5% from a year earlier. EV Sales Weigh on GM GM is experiencing…

General Motors is facing another quarter of lower U.S. sales as weaker demand for its electric vehicles weighs on the automaker despite continued strength in pickups and small crossovers. GM sold 670,974 vehicles in the United States in the third quarter, down 5.5% from a year earlier.

EV Sales Weigh on GM

GM is experiencing an overall sales slump for a fourth consecutive quarter, with weaker demand for its EV lineup contributing to the decline.

GM’s performance varied by brand. Chevrolet sales fell 4.6%, while GMC sales declined 4.7%. Buick was the exception, with sales rising 7.9%.

Cadillac recorded the largest decline among GM’s brands, with sales down 30% as the luxury brand shifts toward more EV-focused vehicles and cuts ICE models, including the discontinued XT6 and CT4.

GM Electric Vehicle Sales Drop Sharply

Several of GM’s electric models recorded significant sales declines during the quarter. Sales of the Chevrolet Equinox EV dropped 92%, while the Blazer EV fell 84%.

The GMC Hummer also saw sales decline 73%. Sales of the Chevrolet Silverado EV and GMC Sierra EV fell 58%, while the Cadillac Lyriq dropped 51%.

Most of these major declines resulted from the repeal of the $7,500 tax credit for new EV sales.

Small Crossovers and Pickups Offer a Bright Spot

GM’s pickup and small-crossover businesses are providing some relief amid the broader sales decline. The planned introduction of updated Silverado and Sierra pickups is expected to bolster a segment that remains strong for GM.

Small crossovers are also contributing to growth. Chevrolet Trailblazer sales increased 51%, while Trax sales rose 16%. Buick Envista sales were also up 18%.

Toyota Closes in on GM

GM’s sales decline is also narrowing the gap between the automaker and Toyota in the U.S. market. Through September, Toyota’s sales were up 0.6% and the company was just 130,000 vehicles behind GM for the U.S. market leadership position.

GM’s latest results show the continued impact of weaker EV demand on its overall sales, even as pickups and small crossovers provide areas of growth.

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