General Motors (GM) has announced a notable year-over-year increase in its electric vehicle (EV) sales for the third quarter of 2023, despite a decline in overall vehicle deliveries compared to the previous year.
In Q3 2023, the Detroit-based automaker sold 32,095 electric vehicles in the U.S., marking a substantial rise from the 21,930 units sold in Q2 and the 16,425 units in Q1.
Overall, GM’s EV sales have surged by 60% year-over-year, with a 46% increase compared to the second quarter of 2024. This growth has elevated GM’s share of the U.S. EV market to 9.5%, up from 7.1% in the previous quarter, driven largely by a select group of models within the GM portfolio.
Among the contributing models, the newly launched Chevrolet Equinox EV has begun to reach customers, with 10,785 units delivered this year—9,772 of which were in Q3 alone. The Blazer EV has also seen significant deliveries, with 15,232 units sold year-to-date compared to just 19 sold last year, including 7,998 in Q3. The Silverado EV has started its delivery process as well, with 5,252 units sold so far, 1,995 of which occurred in Q3.
The introduction of these new models has been crucial for Chevrolet as it transitions away from the Bolt EV and EUV. While 49,494 units of the Bolt were sold in 2023, sales have sharply declined to 8,582 this year, with only 168 sold in Q3.
Additionally, the Cadillac Lyriq has emerged as another strong performer for GM, ranking as Cadillac’s second best-selling model with 20,318 units sold year-to-date, including 7,224 units in the July-September period. This positions it behind the Escalade, which has experienced an 11.1% decline in sales, totaling 27,992 units year-to-date.
Examining the performance of individual brands reveals mixed results. Buick sales have increased by 9.9% this year to 137,235 units, while Cadillac’s sales have grown by 0.3% to 111,120. In contrast, Chevrolet’s sales have decreased by 3.0%, falling from 1,304,104 to 1,264,745 units. GMC has seen a modest rise of 1.5%, reaching 435,828 units. Overall, GM has delivered 1,949,920 vehicles in the U.S. this year, representing a 1.0% decline from the previous year.