Summary
- General Motors saw a 46 percent increase in EV sales in Q3 compared to Q2, selling a total of 32,095 EVs
- The Chevrolet Equinox EV is now GM’s top-selling electric vehicle, with the Cadillac Lyriq also performing well
- Despite some brands like Mercedes-Benz experiencing a decline in EV sales, GM’s success indicates EVs are still popular
- The Equinox EV made up almost a third of GM’s Q3 EV sales, with the Blazer EV as the close second
- Cadillac’s Lyriq sales are steadily increasing, outselling other luxury EVs and the brand plans to introduce more EV models in the near future
Article
General Motors continues to see success in the electric vehicle market, with third-quarter EV sales increasing by 46 percent from the previous quarter to 32,095 units. The Chevrolet Equinox EV has emerged as GM’s best-selling electric vehicle, with over 9,700 units sold in Q3. Cadillac has also seen success with its Lyriq EV crossover, selling over 20,000 units so far this year. Despite some automakers experiencing a decline in EV sales, GM’s continued expansion of its lineup of battery-electric vehicles has helped it maintain strong sales figures.
GM’s third-quarter sales report highlights the growing popularity of EVs, with the automaker’s best quarter ever for these models. Sales of EVs increased by 40 percent compared to the previous quarter, with GM increasing its share of the US EV market from 6.5 percent in Q1 to 9.5 percent in Q3. The success of the Equinox EV, which accounted for nearly a third of GM’s Q3 EV sales, has been a major contributing factor to this growth. The Blazer EV also saw strong sales, with the Bolt EV set to be replaced with a similarly priced successor in the near future.
At Cadillac, the brand leading GM’s EV strategy, sales of the Lyriq have remained steady throughout the year. While the Lyriq may not top any year-end best-seller lists, it has been outselling luxury EVs from other brands like BMW, Mercedes, Audi, and Lexus. Cadillac plans to introduce two more EV models by the end of the year, with the Cadillac Vistiq joining the lineup next year. The brand’s success in the EV market comes at a time when interest in electric vehicles is waning, leading to adjustments in the strategies of some automakers.
The introduction of new EV models has been a key factor in GM’s success in the electric vehicle market. The Equinox EV and Blazer EV have both seen strong sales, while the Hummer EV has enjoyed a significant increase in sales compared to last year. GMC’s Sierra Denali EV Edition 1 and the upcoming cheaper Silverado EV trim are expected to further boost sales. GM’s continued expansion of its EV lineup, coupled with the success of existing models, has helped it maintain solid sales figures in a market where some automakers are struggling.
Despite some automakers facing challenges in the EV market, GM’s success in the sector continues with strong sales figures in the third quarter. With a focus on expanding its lineup of electric vehicles, including the introduction of new models from Cadillac, GM remains at the forefront of the electric vehicle revolution. As consumer interest in electric vehicles fluctuates, automakers like GM are adjusting their strategies to meet changing demand and provide customers with a range of options in the increasingly competitive EV market.
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