Electric Vehicle sales in the United States see GM climbing to the second spot, attributed to the highest tax credits offered.
General Motors Makes a Mark in the Electric Vehicle Market
General Motors (GM) is making significant strides in the electric vehicle (EV) market, with its strategy delivering impressive results. In the third quarter of 2024, GM set a new electric vehicle sales record, delivering over 32,000 all-electric vehicles in the U.S., marking a 46% increase quarter-over-quarter and a 60% improvement year-over-year.
GM's electric vehicle portfolio is expanding, with several new models on the horizon. The Chevrolet Equinox EV, already available for the 2025 model year, features an 85 kWh battery and options for front-wheel or all-wheel drive. The stylish design and fully loaded RS trim are now available at dealerships.
The next-generation Chevrolet Bolt, planned as a 2027 model but with production beginning in late 2025, will be a crossover EV using GM's updated BEV2 platform. This new Bolt will boast a longer-life, lower-cost LFP battery, a heat pump, and compatibility with Tesla's Supercharger network. Dealership availability is expected in 2026.
The Buick Electra E5, an all-electric SUV roughly comparable in size to the Chevrolet Blazer, is also expected to arrive in 2026. Built on GM’s Ultium platform, this vehicle will join GM's continued push into affordable and family-oriented electric crossovers, with dealership deliveries primarily in the 2025-2026 timeframe.
GM's EV offerings also include the luxurious Cadillac LYRIQ, the GMC HUMMER EV supertruck and SUV, the hardworking Chevy Silverado EV, and the affordable, family-friendly Chevy Equinox EV.
GM is not only focusing on electric vehicles but also expanding access to public charging stations across the country. The company is increasing the number of charger stalls in convenient locations, making it easier for EV owners to recharge their vehicles.
GM's commitment to EVs has not gone unnoticed, as it was the second-largest seller of electric vehicles in the U.S. for the third quarter of 2024. The company is also looking forward to celebrating its next electric vehicle sales milestone.
In addition to its electric vehicle efforts, GM continues to refine its gasoline and diesel-powered vehicles. The Chevrolet Blazer EV, Equinox EV, Cadillac Lyriq, and Silverado EV are among the vehicles offered by GM that qualify for a $7500 tax credit.
However, it's important to note that some eligible 2024 model-year EVs may need a dealership or over-the-air update for bidirectional charging to qualify for the tax credit. GM is also enhancing home charging options for its electric vehicles with the GM Energy PowerShift Charger and GM Energy V2H Enablement Kit, but these require an adequately charged and properly equipped GM EV with bidirectional charging capabilities, a properly equipped home, and proper grid interconnection.
GM's future in the electric vehicle market is bright, with innovative vehicles such as the Cadillac OPTIQ and ESCALADE IQ on the horizon. The company is continuing to push the boundaries of what electric vehicles can do, with the Chevrolet Equinox EV serving as a backup power source and the Bolt and Electra E5 representing GM's continued push into affordable and family-oriented electric crossovers.
- General Motors' electric vehicle (EV) sales have been steadily increasing, with a 46% quarter-over-quarter and a 60% improvement year-over-year in the third quarter of 2024.
- GM is expanding its electric vehicle portfolio, introducing new models such as the Chevrolet Equinox EV, the next-generation Chevrolet Bolt, and the Buick Electra E5.
- In an effort to enhance accessibility, GM is increasing the number of public charging stations across the country.
- As GM continues to make strides in the electric vehicle market, they are also offering gasoline and diesel-powered vehicles that qualify for a $7500 tax credit. Some vehicles may require updates for bidirectional charging to qualify.
