Basic Motors concluded 2024 with a powerful whole of 114,432 electrical automobiles (EVs) offered. The Chevy Equinox EV emerged as GM’s best-selling EV for the 12 months, adopted carefully by the Cadillac Lyriq and the Chevy Blazer EV. Notably, GM additionally skilled a record-breaking fourth quarter for its EVs.
In a outstanding turnaround, GM navigated 2024 successfully after dealing with vital challenges in late 2023, together with manufacturing points, delays, and software program problems. Over the course of the 12 months, the automaker not solely expanded its EV market share but in addition achieved report gross sales throughout all manufacturers.
The corporate reported a 4% enhance in total U.S. gross sales, reaching 2.7 million models—the very best whole since earlier than the pandemic. EV gross sales have been notably noteworthy, hovering by 125% within the fourth quarter in comparison with the identical interval in 2023 and rising by 50% for your entire 12 months.
GM’s upward momentum in EV gross sales was not merely a seasonal spike however a year-long development. The varied vary of fashions—from reasonably priced crossovers to luxurious SUVs—catered to a broad viewers and contributed to this progress. By the top of 2024, GM supplied 10 totally electrical fashions throughout its Chevy, Cadillac, and GMC manufacturers, all of which noticed substantial gross sales will increase in each the ultimate quarter and all year long.
The Chevy Equinox EV led the cost, attaining 28,847 gross sales for the 12 months, with a major surge of 18,089 models offered within the final three months. As essentially the most reasonably priced EV obtainable within the U.S., the Equinox EV boasts a beginning worth of $35,000 and provides over 300 miles of vary. After accounting for the $7,500 federal clear automobile credit score, eligible consumers can buy one for as little as $27,500.
Shut behind was the Cadillac Lyriq, which offered 28,402 models in 2024, together with 8,000 within the fourth quarter. Cadillac’s portfolio is increasing with the introduction of the Escalade IQ and soon-to-launch fashions just like the Optiq and Vistiq. The Chevy Blazer EV additionally carried out nicely, with 23,115 models offered.
Whereas electrical crossovers have been the first contributors to GM’s success, pickups and BrightDrop vans additionally made vital contributions to the gross sales figures. GMC reported almost 14,000 Hummer EVs (each pickup and SUV), together with the Chevy Silverado EV and GMC Sierra EV promoting 7,428 and 1,788 models, respectively. BrightDrop’s electrical supply vans, now a part of the Chevy model, accounted for one more 1,529 models.
GM’s government vice chairman and president of world markets, Rory Harvey, emphasised the significance of momentum within the automotive trade, highlighting GM’s vital progress in EV market share. He famous that the Equinox EV continues to obtain an enthusiastic reception, constantly breaking gross sales data.
Regardless of these achievements, the outlook for the approaching 12 months stays unsure attributable to potential coverage modifications. Considerations come up from President-elect Donald Trump’s plans to impose 25% tariffs on items produced in Mexico and Canada, which might influence the Equinox EV and Blazer EV which might be manufactured there. Moreover, Trump’s intention to eradicate the $7,500 federal clear automobile credit score might hinder the accessibility of EVs for a wider viewers. With this in thoughts, the highway forward might current challenges for GM.
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