General Motors (GM) has had a promising start to 2023, with its first-quarter sales results showing significant progress in the EV market. The automaker reported selling over 20,000 electric vehicles in a single quarter for the first time, a significant milestone.
The company is now on track to build an additional 50,000 EVs in North America through June, with plans to double that in the second half of the year. This growth is a result of GM’s commitment to offering affordable EV options and expanding its position in the commercial EV segment.
According to the sales report, Q1 was the third consecutive record quarter for the Chevy Bolt EV and EUV, which sold 19,700 units alone. The Bolt EV was recalled in Q1 2022, but production resumed in April of that year, and it has since become a top-selling EV model for its affordability and functionality.
In addition to the Bolt, GM has two other fully electric models in the premium segment, the Cadillac Lyriq and GMC Hummer EV. Lyriq sales reached 968 in Q1, while two Hummer EV pickups were sold.
GM CEO Mary Barra claimed in a tech conference in February that the company was off to a solid start, stating, “We are different from the rest of the traditional OEMs, and this is really going to be our year to demonstrate it.” The Q1 sales results demonstrate that the company is indeed trending in the right direction.
The automaker expects the growth to continue throughout the year, with Cadillac Lyriq deliveries rapidly accelerating and the Hummer EV pickup and SUV models being built and shipped from GM’s Factory ZERO.
Furthermore, GM is expanding its position in the commercial EV segment with the production of over 500 BrightDrop Zevo 600s in Ontario, Canada. The company is also set to begin deliveries of its new Chevrolet Silverado EV WT edition in late spring, with over 340 fleet customer orders already.
GM’s commitment to offering affordable EV options and expanding its position in the commercial EV segment is a promising sign for the future of the industry. As the demand for EVs continues to grow, GM is well-positioned to remain a leading player in the market.
