General Motors (GM) has achieved a new milestone, securing the second position in electric vehicle (EV) sales in the United States for the third quarter of 2024 with over 32,000 units sold. The automaker’s EV lineup spans multiple brands, all running on its innovative EV platform. GM’s range includes popular models like Chevy’s Silverado, Blazer, and Equinox EVs, alongside the GMC Hummer EV and the Cadillac Lyriq.
Since its entry into the EV market in North America, GM has delivered an impressive 370,000 electric vehicles, with 300,000 of those sold within the U.S. However, Tesla remains the market leader with more than 5 million vehicles sold globally since 2008.
In a recent statement, GM attributes its accelerated sales to the establishment of a dedicated EV platform, paired with battery production collaborations with LG and Samsung SDI. According to Kelley Blue Book, GM’s third-quarter sales outpaced Ford’s by approximately 8,600 units, underscoring its competitive momentum.
The Road to Profitability in an Evolving Market
GM has expressed optimism about turning a profit on its EVs by year’s end, a positive indicator for the company’s long-term EV strategy. Yet, overall EV demand has seen some cooling, as early adopters have already joined the trend, pushing manufacturers to adjust rollout strategies to attract a broader audience.
Ford, one of GM’s main competitors, experienced a strong start in the EV market, beginning with the all-electric Mustang Mach-E in 2019 and the F-150 Lightning in 2022. However, while GM expanded its EV portfolio, Ford encountered challenges, including supply chain issues. The automaker recently paused production on the F-150 Lightning until next year and canceled a planned three-row SUV as part of its efforts to stabilize its EV strategy.
With its new Silicon Valley-based platform team, Ford is focusing on a next-generation platform to lower EV costs, aiming to create models that are more accessible to a wide range of consumers.