GM's electric models see steep Q3 sales drops while competitors gain ground

General Motors disclosed that its electric vehicle sales slumped sharply in the third quarter, with the Equinox EV falling to 1,905 units and the Blazer EV and Hummer EV also registering large percentage declines. The downturn follows a year-over-year comparison to a period when buyers rushed to capture federal incentives that have since been discontinued. In contrast, Toyota reported a slight rise in total U.S. sales and a 28.5% increase in electrified vehicles, while Honda posted a 9.3% sales gain and set a record for hybrid deliveries.

GM noted that some of its conventional models performed well, citing a 51% rise for the Chevrolet Trailblazer and modest gains for the Buick Envista and Chevrolet Trax. The company also said its full-size pickup segment stayed flat and its fleet business led the industry for the fourth quarter in a row. President Duncan Aldred emphasized the upcoming launch of next-generation full-size trucks and ongoing investments in new vehicles and manufacturing as drivers of future growth.