2024 Chevrolet Equinox EV 3RS in Red Hot
GM increased its EV market share during the third quarter of 2024 when compared to Q3 of 2023. By contrast, Tesla, while still the dominant manufacturer in electric vehicle sales, lost significant market share during the same time period. GM’s growing performance highlights strong momentum, even though sales figures do not yet include the all-electric Silverado and all-electric Sierra pickup trucks, which were absent from the current top 20 models.
The sales insights were provided in a new report from Experian.
Previously, GM’s presence in the electric vehicle market was marginal, primarily represented by the Cadillac Lyriq and all-electric Hummer. However, Q3 of 2024 saw a notable rise in GM’s electric vehicle market share thanks in no small part to the launch of the all-electric Chevy Equinox and increased sales for the all-electric Blazer, Lyriq, and all-electric Hummer.
Compared to Q3 of 2023, market share for the Cadillac Lyriq grew from 1.1 percent to 2.3 percent, while market share for the all-electric GMC Hummer grew from 0.3 percent to 1.4 percent. The all-electric Chevy Equinox did not launch until May of 2024, while the all-electric Blazer did not hit dealers until midway through the 2023 calendar year, with the latter mired in issues that resulted in a stop-sale order that was only lifted earlier this year.
Also notable is the Honda Prologue, which GM builds. Interestingly, the Prologue is outperforming GM’s own all-electric Blazer in market share, with the former netting 3.8 percent market share.
By contrast, Tesla saw a decline in its electric vehicle market share across key models like the Model Y, Model 3, and Model X. The Tesla Model Y remains the top-selling electric vehicle at 25.9 percent market share, down from 33.6 percent in Q3 of 2023, followed by the Tesla Model 3 at 15.8 percent, down from 20.6 percent. The Tesla Model X netted 1.4 percent market share, down from 2.3 percent the year prior. Despite these losses, Tesla’s Cybertruck emerged as something of a bright spot for the automaker, showing strong early performance at 4.7 percent market share and outselling competitors like the Ford F-150 Lightning, which has 1.9 percent market share.
Meanwhile, several other electric vehicle manufacturers struggled, including Rivian with the R1S and Volkswagen’s ID.4. The Rivian R1S fell to 1.8 percent market share from 2.9 percent in 2023, while the VW ID.4 fell to 1.4 percent market share from 3.6 percent.
Despite fluctuating consumer demand and a changing regulatory environment, GM says it remains committed to electrifying its light-duty vehicle fleet by 2035.
New styling options pair nicely with latest range-topper.
Unclear when, if ever, it will resume.
Resembling Cadillac's Typhoon Metallic.
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Interesting that the article mentioned Ford, Rivian and VW, but failed to list the two that are really doing the best in EV. That would be the Kia and Hyundai.
Contrary to what you read on so many click-bait articles, EV sales are up and growing. Just imagine if the majority of articles were telling the truth and if many of the anti-EV people out there would rent one for a couple weeks to see how good they really are. Sales would be even better.
"According to a 2024 survey by McKinsey & Co., 46% of US electric vehicle (EV) owners are likely to switch back to an internal combustion engine (ICE) vehicle. Globally, 29% of EV owners are considering switching back to ICE."
That's fricking McKinsey, you know the company that told everyone how ESG/DEI would make them rich, lol.
🤮 Kia and Hyundai lol 😂! While they might be do well in sales both cars are rip offs of previous designs....the Iconq6 looks like a modern Porsche 928 from the 80s, The "hatchback" I forget the name looks like an AMC Gremlin... modernized! Finally if the EVs are as unreliable as their ICE cars where in trouble! I'm not making that up google search Kia /Hyundai problems.
Tesla market share will continue to decline as his one-sided political involvement increases and that same side loathes EVs. A lose-lose.
Still talking peanuts and hardly anyone cares one iota.
Do you have peanuts allergy?
Musk has alienated his core consumer cohort and failed to develop new market offerings except for the Cyber Truck high school design project which some may buy as a goof. The more traditional OEMs will take advantage of this market condition as Tesla continues to lose market share
Take my screen name out your effing mouth! Lol, just kidding. We'll see what happens with Musk and Tesla. There are certainly PLENTY of other companies the past several years that have hurt themselves with their political views.
They show the EV Equinox in a CGI cool light purple/lavender ... that doesn't exist in real life.
GM color choices so pathetic the marketing people have to "make one up" for the Ads.
Keep up the great work, Mary .
Eh? That's a Blazer EV RS in "Galaxy Gray Metallic".
And it does exist on the Equinox too.
Okay, Blazer ... but that's NOT gray pigment.
It doesn't look anything like that on the vehicle. The pic looks lavender.
There's a normal gray available as well as this lavender-ish one. I work at a GM dealer and that IS what that colour looks like in person. I'm not a huge fan except for on the Lyriq, it looks amazing.
Boycott Tesla just because of the dirty deeds he is about to do because his own dont all qualify! Anything for a win. Nevertheless his shares will continue to slide and as his carbon credits become less valuable his profits will go in the toilet too because other companies will no longer need to buy them either.
I think the reason that the GM Equinox is doing so well is that GM has developed and provided a highly economical, good-looking and spacious EV at a very affordable price.
The base Equinox EV starts at $35000.00 before tax incentives and gives you 326 mpg. When GM reintroduces the Bolt EV I want to believe that it will go over well.
IMHO, I don't believe most individuals dislike EVs, but it needs to be a compelling value proposition that meets their needs or intended function.
I want to correct myself, 319 mpg.