General Motors (GM) has surged ahead in the electric vehicle (EV) market, breaking records in the second quarter of 2024. With new models like the Chevy Blazer and Equinox EVs hitting the streets, GM delivered 21,930 EVs in Q2 alone, marking a 34% increase from the previous quarter. CEO Mary Barra expressed confidence, labeling 2024 as “the year of execution” for GM’s EV ambitions.
According to GM’s latest report, the Cadillac Lyriq and GMC Hummer EVs have significantly boosted sales, with the Hummer EV achieving its best quarter ever. Barra highlighted the impact of GM’s newest electric offerings, noting that 40% of Blazer EV buyers are new to the brand, drawn from competitors like Jeep and Ford.
“We’re seeing strong momentum with our EV lineup,” stated Barra, emphasizing GM’s commitment to expand its electric portfolio to ten nameplates by the end of 2024. Despite challenges like production delays and software issues in the past, GM remains optimistic about its future in the EV market.
GM’s record-breaking performance in Q2 aligns with a broader industry trend towards electric mobility. Competitors such as Hyundai, Kia, and Tesla also reported robust EV sales, underscoring the growing demand for electric vehicles worldwide.
Looking ahead, GM plans to reintroduce the Chevy Bolt EV as an Ultium-based model next year, positioning it as the most affordable EV on the market in 2025. With these strategic moves, GM aims to solidify its position in the rapidly evolving EV landscape, driving innovation and customer adoption across its brands.
