GM’s EV Sales Surge 60% in Q3, Riding Wave of Electric Innovation

General Motors (GM) has reported a significant boost in its electric vehicle sales for the third quarter of 2024, according to their latest sales results. The automaker’s EV deliveries surged by 60% year-over-year, reaching a record 32,095 units.

Record-Breaking Quarter for EVs

While GM’s total vehicle sales in the U.S. reached 659,601 units, making it #1 in sales, the standout performer was undoubtedly the EV segment. Not only did EV sales grow 60% year-over-year, but they also showed impressive quarter-over-quarter growth of 46% compared to Q2 2024.

Diverse EV Portfolio Driving Success

GM’s executive vice president and president of Global Markets, Rory Harvey, attributed the success to the company’s comprehensive EV lineup. He stated, “GM’s EV portfolio is growing faster than the market because we have an all-electric vehicle for just about everybody, no matter what they like to drive.”

Chevrolet and Cadillac Leading the Charge

Chevrolet’s Equinox EV has been a particular success, with more than 9,700 units sold in its first full quarter on the market. Meanwhile, Cadillac‘s LYRIQ is making waves in the luxury segment, with retail sales up 139% in Q3, topping 7,000 U.S. deliveries for the second consecutive quarter.

GMC’s Electric Future

GMC is also joining the electric revolution with the HUMMER EV. Combined HUMMER EV Pickup and SUV sales were up 269% year-over-year and 47% from Q2. The brand is also preparing to launch the GMC Sierra EV Denali Edition 1, boasting an impressive GM-est. 440 miles of range on a full charge.

Market Share Growth

GM’s share of the U.S. EV market has grown steadily, reaching 9.5% in Q3 2024. This growth outpaces the overall U.S. EV market, which accounted for 9% of total vehicle industry sales in the same quarter.

Looking Ahead

GM isn’t slowing down. The company has announced several EV launches coming in Q4, including the Cadillac ESCALADE IQ and the Chevrolet Equinox EV. With more than 50% of EV buyers new to GM, the company is clearly attracting fresh customers to its electric lineup.

EVXL’s Take

GM’s strong EV performance in Q3 2024 aligns with the broader industry trend towards electrification. As we’ve seen in recent GM-related articles on EVXL, the company has been aggressively expanding its electric offerings across its brands. This strategy appears to be paying off, with GM’s EV sales growth outpacing the overall market. It’s a clear indication that major traditional automakers are successfully transitioning towards an electric future, challenging pure EV manufacturers in the process.

What’s your take on GM’s EV sales growth and upcoming electric models? Share your thoughts in the comments below.​​​​​​​​​​​​​​​​