Overview
- GM reported a 5.5% year-over-year drop in U.S. new-vehicle sales to 670,974 units in the third quarter, a figure the company disclosed on Thursday.
- Electric-vehicle deliveries plunged from 66,501 in Q3 2025 to 25,473 in Q3 2026, a fall analysts attribute mainly to buyers advancing purchases into 2025 to capture the now-expired $7,500 federal tax credit.
- Model-level weakness was extreme: the Chevy Equinox EV fell about 92% year-over-year to roughly 1,905 units while Cadillac’s electric SUVs made up nearly half of GM’s EV volume in the quarter.
- GM has sharply scaled back EV output, planning roughly 35,000 Chevy Bolt units before Bolt production ends in Q1 2027, a cut that reflects lower demand for some lower-priced models.
- The shift leaves GM exposed to rising consumer interest in hybrids and higher gas prices, creating an opening for rivals offering lower-priced EVs and broader hybrid lineups and signaling a market recalibration after the tax-credit-driven surge.