Particle.news
Download on the App Store
17 ARTICLES
·
2d ago

EV Credit Rush Lifts GM to Record August EV Sales as Tesla Slips in Europe

Automakers flag a sales drop after the $7,500 federal incentive ends on Sept. 30, with GM preparing to pull back production.

Image
Image
Image
Image

Overview

  • GM sold more than 21,000 EVs in the U.S. in August, its best month on record, led by the Chevrolet Equinox EV, Cadillac Lyriq and GMC Sierra EV.
  • GM said discounts tied to the expiring credit will fade, it expects lower EV sales next quarter, and it will not overproduce as demand cools.
  • Ford logged a sixth straight month of U.S. growth with August EV sales up nearly 20% to 10,671, while Hyundai and Kia set monthly records powered by models like the Ioniq 5 and EV9.
  • Analysts forecast a sharp pullback after the deadline, with one projecting U.S. EV market share could sink well below 4% from August’s 9.1%, even as IRS guidance allows later deliveries for contracts signed by month-end.
  • Tesla’s slump deepened as August registrations fell 39% in Germany and dropped across France, Sweden, Denmark and the Netherlands, and its India launch has drawn only about 600 orders with 350–500 cars planned this year.