- General Motors' EV sales in July and August 2024 nearly matched its entire Q2 results.
- It's close to surpassing Ford to become the third-best-selling EV maker in the U.S.
- GM says as many as 10 EV models will be on sale by the end of the year.
After selling a record number of electric vehicles in the second quarter of this year, General Motors looks poised for another quarter of record EV sales.
According to sales data obtained by CNBC, the automaker sold almost 21,000 EVs in July and August combined in the U.S. That means GM is now on track to outpace Ford and become America's third-largest EV maker behind Tesla and the Hyundai Motor Group.
EVs have been somewhat of a turbulent chapter for GM so far, with the automaker facing setbacks in the software department, pushing back its EV targets, and delaying production of several models. However, the latest sales data suggests that GM EVs currently on sale and are gaining strong momentum.
According to the report, GM sold 59,303 EVs through the first eight months of the year, whereas Ford sold 61,366 EVs. While the Dearborn automaker continues to rely on heavily discounted Mach-Es and F-150 Lightnings, GM now offers a far more robust line-up of EVs.
During the same period last year, GM's EV portfolio looked barren, with the popular Chevy Bolt EV nearing its end of production and models like the Chevy Equinox EV delayed. But the tide has turned ever since.
Several GM models across segments are on sale now. That includes the Chevy Equinox EV, Blazer EV, Silverado EV, Cadillac Lyriq, GMC Sierra EV, Hummer EV (SUV and pickup) and the Brightdrop delivery vans. Deliveries of the Cadillac Optiq and Escalade IQ are imminent as well.
“We are definitely outstripping the industry in terms of growth, in terms of EVs,” Rory Harvey, GM president of global markets told the outlet.
There are more reasons to be optimistic. The Equinox EV's base 1LT trim, promised to start at $35,000 (including destination) before tax credits, is not even on sale yet. It's expected to become one of the cheapest EVs with over 300 miles of estimated range. GM said it will be available as a 2025 model-year car later this year.
The Hyundai Motor Group still has a considerable lead over GM in terms of EV sales thanks to the Ioniq 5, Ioniq 6 and the Kia EV6 and EV9—all of which can be driven home with cheap lease deals if you're lucky enough to find a cooperative dealership.
However, GM might be chipping away slowly from Hyundai-Kia as well.
Through August, Hyundai sold some 20,000 more EVs than GM did. As per CNBC estimates, Hyundai and Kia sold 21,760 EVs in those two months, whereas GM sold 20,948 EVs.
All said, Tesla still reigns supreme. CEO Elon Musk's company sold over 304,000 EVs in the first half of 2024 in the U.S., more than double what GM, Ford, and Hyundai-Kia sold combined during the same period.
So at least for the foreseeable future, automakers in the U.S. will be battling for the number two spot.
