Back

GM U.S. sales fall 5.5% as EV demand plunges and hybrids gain ground

  • General Motors sold 670,974 U.S. vehicles in the third quarter, down 5.5% year over year as EV deliveries plunged.
  • GM EV sales fell about 62% to roughly 25,500 vehicles, while GM shares rose 3% to $79.29.
  • Toyota and Honda gained from hybrid demand, while buyers favored smaller models as fuel prices pressured large trucks and SUVs.

General Motors remained the top U.S. automaker in the third quarter with 670,974 U.S. vehicle sales, down 5.5% from 710,347 a year earlier, as electric-vehicle deliveries fell about 62% to roughly 25,500 after a comparison period boosted by the expiring federal tax credit. GM shares rose 3% to $79.29, while lower-priced SUVs and light-duty pickups partly offset weaker large-vehicle demand. Rising gasoline prices, which reports attributed to the U.S.-Israeli war with Iran or the Iran war, coincided with stronger hybrid and smaller-vehicle demand at Toyota and Honda; Stellantis also reported sharply higher light-duty Ram sales, although analysts said it was too early to conclude that Americans were abandoning full-size vehicles.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.
GM U.S. sales fall 5.5% as EV demand plunges and hybrids gain ground - CoinPost Terminal