GM broke Q2 and first-half EV gross sales data with new fashions just like the Chevy Blazer and Equinox EVs hitting the market. Nevertheless, GM’s new electrical vehicles weren’t the one ones driving progress, as gross sales of the Cadillac Lyriq and GMC Hummer EVs additionally surged.
GM EV gross sales choose up, breaking Q2 and first-half data
After working into software program glitches, freight delays, and different hurdles, GM missed its EV gross sales goal final yr. Nevertheless, CEO Mary Barra believes GM will flip issues round, calling 2024 “the yr of execution.”
GM delivered 21,930 EVs within the second quarter of 2024, up 34% from Q1. By means of the primary half of the yr, EV gross sales reached 38,355. With EV gross sales climbing, GM set new Q2 and second-half data.
In keeping with GM, retail EV registrations are up 17% YTD, outpacing the trade common of 10%. The automaker plans to supply ten EV nameplates by the tip of 2024.
Its latest electrical Chevy fashions are already having a big effect. GM offered 6,634 Chevy Blazer, 1,013 Equinox, and a pair of,196 Silverado EVs.
The brand new electrical fashions are attracting consumers from different manufacturers. For instance, 40% of Blazer EV consumers are new to GM, coming from manufacturers like Jeep, Ford, Hyundai, and Kia.
Output of current Ultium-based EVs additionally picked up. GM’s luxurious Cadillac model had its greatest retail gross sales quarter since 2015. With 7,294 items offered, the Lyriq was Cadillac’s second best-selling mannequin behind the Escalade.
Cadillac’s Lyriq is without doubt one of the fastest-growing EVs within the trade, in response to GM. In Q2, over half of Lyriq consumers with a trade-in have been from rivals like Tesla and Lexus.
In the meantime, GMC had its greatest Q2 gross sales since 2005. The Hummer EV had its greatest quarter ever, with gross sales reaching 2,929, up 76% from Q1. GM stated virtually 70% of Hummer EV consumers are new to GM.
After GM stopped Chevy Bolt EV manufacturing final yr, deliveries fell 90% to 1,374. Though GM is phasing out its best-selling electrical automobile, the Chevy Bolt EV will return as an Ultium-based mannequin subsequent yr. GM claims the brand new Bolt shall be probably the most inexpensive EV in the marketplace in 2025.
GM’s document Q2 and first-half EV gross sales come as rivals Hyundai and Kia additionally noticed document EV outcomes. EV chief Tesla beat expectations, delivering 443,956 EVs within the second quarter.
Electrek’s Take
Regardless of discuss of an “EV slowdown,” most automakers simply set new EV gross sales data within the US. GM, Hyundai, Kia, Toyota, and others are all seeing double-digit, if not triple-digit, progress.
Electrical car gross sales are anticipated to proceed climbing as extra superior, longer-range fashions hit the market at decrease costs.
GM stated the $35,000 Chevy Equinox EV shall be accessible to order later this yr because the “most inexpensive” in its section with as much as 300 miles vary. Deliveries of the Chevy Silverado EV RST are kicking off this month, which also needs to assist increase gross sales.
In the meantime, GM nonetheless expects to construct 200,000 to 250,000 EVs in 2024, down from its earlier goal of 250,000 to 300,000.
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