GM's US sales fall 5.5% in Q3 amid sharp EV drops

General Motors reported a 5.5% year-over-year decline in US sales for the third quarter, delivering 670,974 new vehicles. Sales of all-electric models fell sharply as consumer enthusiasm cooled following record EV deliveries in the prior-year period, which had surged ahead of the end of federal tax incentives of up to $7,500.

Electric vehicle demand saw steep drops across several key nameplates. Deliveries of the Chevrolet Equinox EV plunged 92.4% year over year to 1,905 units, while Chevrolet Blazer EV sales dropped 84.4%. Sales of the GMC Hummer EV decreased 72.9% compared to the same period last year.

Lower-priced gasoline models offset part of the weakness. Chevrolet Trailblazer sales jumped 51% year over year to record its best third quarter since 2007. Buick Envista sales rose 18.4%, while Chevrolet Trax deliveries increased 16.3%, or 16% year over year for the brand's tally. Corvette sales climbed 29%, and total Buick brand sales rose 8%, putting the Envista and Encore GX on track for their second-best calendar year.

Among trucks and luxury lines, the midsize GMC Canyon pickup achieved its best quarter ever, and the GMC Sierra is pacing toward its second-best calendar year. Cadillac widened its lead in the luxury EV market by 1.3 percentage points through August, supported by a record third quarter for the CT5 Blackwing. GM Fleet volumes grew 10% year over year, keeping the automaker at the top of the fleet sector.