Normal Motors famous a constructive second quarter, as its complete car deliveries improved by 0.6% year-over-year to 696,086, whereas all-electric automotive deliveries reached a brand new file.
Of the 21,930 electrical automobiles delivered in Q2 2024, 20,556, or almost 94%, have been Ultium-based EVs. That is the primary time GM has bought a five-digit variety of Ultium EVs. Even in Q1 2024, the amount was simply 9,385. It is a true signal that the Ultium household of fashions is lastly taking off. On the identical time, we’re seeing the last word fade of the Chevrolet Bolt EV/Bolt EUV duo. Simply 1,374 have been bought in Q2.
100,000 EV gross sales in 2024?
In 2024, GM’s EV deliveries within the U.S. would possibly exceed 100,000 for the very first time. It won’t be trivial, however seems attainable after the corporate bought over 38,000 through the first half of the yr.
Normal Motors’s complete EV deliveries elevated by 40% year-over-year and accounted for a near-record 3.2% of the producer’s complete quantity, in comparison with 2.3% a yr in the past. Because the ramp-up of recent EV fashions progresses, it’s extremely probably that the following two quarters will deliver extra data.
The outcomes embrace EV gross sales from 4 manufacturers: Cadillac, Chevrolet, GMC, and the business EV model BrightDrop. GM says that EVs are attracting clients from different manufacturers in lots of circumstances.
Chevrolet delivered 11,217 EVs in Q2 (down 20% year-over-year), which is 2.5% of the model’s complete gross sales. Apart from the 1,374 retired Bolt EV/Bolt EUV, this quantity features a substantial variety of Chevrolet Blazer EVs (6,634), in addition to 2,196 Chevrolet Silverado EV (the brand new RST model arrived in June) and the all-new Chevrolet Equinox EV (1,013), which is arriving at sellers now.
Based on GM, 40% of Blazer EV consumers are new to GM, normally coming from Jeep, Ford, and Hyundai/Kia manufacturers.
The Cadillac Lyriq stays the corporate’s best-selling Ultium mannequin and, with a brand new quarterly file of seven,294 models (up 441% year-over-year), has develop into the best-selling EV total.
One of the vital statistics right here is the 19% share that Lyriq has in Cadillac’s complete quantity. GM famous that through the second quarter, greater than half of consumers with a trade-in have been conquests from a competing producer, together with Tesla and Lexus. Moreover, the corporate provides that the model outsold all European EVs within the first half of the yr.
The GMC Hummer EV Pickup and SUV duo famous a file of two,929 deliveries in Q2. Additionally, nearly 70% of consumers have been new to GM. Based on GM, the cut up between the SUV and the Pickup is 60%/40 %.
Lastly, the BrightDrop van fashions famous a brand new file of 490 deliveries (up 64% year-over-year). The expansion is solely in all places, except for the discontinued Bolts.
Nevertheless, regardless of all of the constructive outcomes, GM nonetheless bought fewer EVs than Ford (23,957) final quarter.
GM BEV gross sales in Q2’2024 (YOY change):
- BrightDrop: 490 (up 64%)
- Cadillac (Lyriq): 7,294 (up 441%) and 19% share
- Chevrolet EVs: 11,217 (down 20%) and a couple of.5% share
- Chevrolet Blazer EV: 6,634 (new)
- Chevrolet Bolt EV/Bolt EUV: 1,374 (down 90%)
- Chevrolet Equinox EV: 1,013 (new)
- Chevrolet Silverado EV: 2,196 (new)
- GMC (Hummer EV Pickup/SUV): 2,929 (up 6,132%) and 1.8% share
- Complete: 21,930 (up 40%) and three.2% share
Let’s not neglect that GM additionally produced Ultium-based EVs for Honda and Acura. A complete of 1,873 models have been bought in Q2 2024, bringing Ultium’s complete to 22,429.
To date this yr, GM has bought greater than 38,000 all-electric automobiles within the U.S., 6% greater than a yr in the past. That is about 3.0% of the corporate’s complete quantity.
GM BEV gross sales in Q1-Q2’2024 (YOY change):
- BrightDrop: 746 (up 150%)
- Cadillac (Lyriq): 13,094 (up 465%) and 17.7% share
- Chevrolet EVs: 19,918 (down 41%) and a couple of.4% share
- Chevrolet Blazer EV: 7,234 (new)
- Chevrolet Bolt EV/Bolt EUV: 8,414 (down 75%)
- Chevrolet Equinox: 1,013 (new)
- Chevrolet Silverado EV: 3,257 (new)
- GMC (Hummer EV Pickup/SUV): 4,597 (up 9,282%) and 1.6% share
- Complete: 38,355 (up 6%) and three% 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 up to now, which will likely be a significant impediment to attaining vital progress in 2024. Nonetheless, GM would possibly have the ability to promote greater than 100,000 models in 2024 (assuming two quarters above 30,000).
Normal Motors is concurrently ramping up manufacturing of a number of EVs and increasing the lineup by including new variations or fashions. On the horizon are new all-electric GMC Sierra EV pickups (mirroring the Chevrolet Silverado EV), in addition to just a few Cadillac fashions (Cadillac Escalade IQ, Cadillac Optiq, and Cadillac Celestiq this yr, plus Cadillac Vistiq in 2025).
Charts
