Basic Motors reported 594,233 automobile deliveries throughout Q1 2024 in the USA, which is 1.5% lower than a 12 months in the past. The automaker additionally was not in a position to enhance its all-electric automobile gross sales, as a result of the decline of the retired Chevrolet Bolt EV/Bolt EUV far outweighs the ramp-up of the all-new Ultium-based EVs.
In Q1 2024, GM delivered 16,425 all-electric automobiles, down 21% year-over-year. That is about 2.8% share of the overall quantity (in comparison with 3.4% a 12 months in the past).
Over 75,000 EV gross sales in 2023
In 2023, GM delivered 75,883 all-electric automobiles within the U.S. (together with 62,045 Chevrolet Bolt EV/Bolt EUV). The Bolt EV duo is not in manufacturing, whereas the brand new Ultium-based EVs are in ramp-up section, which raises questions concerning the development in 2024.
The outcomes embrace EV gross sales from 4 manufacturers: Cadillac, Chevrolet, GMC and the business EV model BrightDrop. Following the retirement of the Chevrolet Bolt EV/Bolt EUV duo, we now see that Cadillac’s EV gross sales usually are not far behind Chevrolet’s EV gross sales.
Chevrolet delivered 8,701 EVs in Q1 (down 56% year-over-year), which is 2.2% of the model’s complete gross sales. This quantity consists of 7,040 Bolt EV/Bolt EUV (down 64%), and slowly ramping up Ultium EVs, together with the Chevrolet Silverado EV (1,061) and Chevrolet Blazer EV (600).
Cadillac Lyriq as soon as once more was the best-selling Ultium mannequin, with a brand new quarterly document of 5,800 items (up 499% year-over-year). That is not sufficient to beat Bolt EV duo, however possibly subsequent quarter the Lyriq will come out on high.
GM boasted that 70% of Lyriq consumers are new to Cadillac and 50% are new to GM. Moreover, the corporate highlights that the mannequin outsold each EV from overseas premium manufacturers: Mercedes, BMW, Audi and Volvo. For us, probably the most attention-grabbing level is nevertheless the Lyriq’s share of 16.4% within the model’s complete quantity.
The GMC Hummer EV Pickup and GMC Hummer EV SUV duo famous 1,668 deliveries in Q1 (in comparison with simply 2 a 12 months earlier). The BrightDrop van fashions famous a complete of 256 items.
In complete, Ultium EV gross sales amounted to 9,385 (in comparison with 970 a 12 months in the past), which is a brand new quarterly document. Nonetheless, in comparison with 6,918 items in This fall 2023, the ramp-up fee remains to be disappointing.
GM BEV gross sales in Q1’2024 (YOY change):
BrightDrop: 256 (new) Cadillac (Lyriq): 5,800 (up 499%) and 16.4% share Chevrolet: 8,701 (down 56%) and a pair of.2% share Chevrolet Blazer EV: 600 (new) Chevrolet Bolt EV/Bolt EUV: 7,040 (down 64%) Chevrolet Silverado EV: 1,061 (new) GMC (Hummer EV Pickup/SUV): 1,668 (up 83,300% from 2) and 1.3% share Complete: 16,425 (down 21%) and a pair of.8% share
For reference, in 2023, GM delivered 75,883 all-electric automobiles within the U.S. (93% greater than in 2022), which was about 2.9% of its complete quantity.
The discontinued Bolt fashions have been accountable for almost all of GM’s EV gross sales, which can be a significant impediment to reaching important development in 2024.
GM BEV gross sales in Q1-This fall’2023 (YOY change):
BrightDrop: 497 (up 240%) Cadillac (Lyriq): 9,154 (up 7,403%) and 6.2% share Chevrolet: 62,988 (up 65%) and three.7% share Chevrolet Blazer EV: 482 (new) Chevrolet Bolt EV/Bolt EUV: 62,045 (up 63%) Chevrolet Silverado EV: 461 (new) GMC (Hummer EV Pickup/SUV): 3,244 (up 280%) and 0.6% share Complete: 75,883 (up 93%) and a pair of.9% share
Within the coming months, GM intends to increase its EV lineup with the Chevrolet Silverado EV RST (top-of-the-line model of the pickup) for retail prospects. It can be a part of the already launched business variations: 4WT and 3WT. Deliveries are anticipated within the first half of 2024.
The all-electric GMC Sierra EV pickup (mirroring the Chevrolet Silverado EV) will observe in summer time (see an summary right here).
The Chevrolet Equinox EV will enter the market in Q2 2024, so inside only a few months.
Based on Basic Motors, all its all-electric automobiles beneath the federal MSRP cap are eligible for the total $7,500 IRA client tax credit score.
Some constructive strikes are additionally seen on the BrightDrop entrance, because the EV battery module meeting begins this month at CAMI. It ought to enhance van manufacturing.