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Equinox EV Leads Sales Spike For GM Electric Vehicles During Q4 2024

By Vince Brown

January 8, 2025 11:59 pm

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GM electric vehicle (EV) sales leapt 363 percent to 43,976 units in the United States during the fourth quarter of 2024.

GM EV sales are comprised of the following model lines:

Three Chevy all-electric models from left to right: Equinox EV, Blazer EV, and Silverado EV.

GM now sells nine all-electric model lines, with the Chevy Bolt line item including the Bolt EV and Bolt EUV, and GMC Hummer EV sales including the Pickup and SUV. Crossovers clearly led the way in sales volume during Q4 2024 as electric trucks continue to gain traction.

Sales Numbers - GM EVs - Q4 2024 - USA

MODELQ4 2024 / Q4 2023Q4 2024Q4 2023YTD 24 / YTD 23YTD 2024YTD 2023
TOTAL+362.71%439769,504+222.27%114,42635,506
CHEVROLET BOLT EV/EUV-98.81%453,789-62.76%8,62723,164
CHEVROLET EQUINOX EVN/A18,089*N/A28,8740
CHEVROLET BLAZER EV+1602.59%7,883463+4695.64%23,115482
CHEVROLET SILVERADO EV+391.20%2,176443+1511.28%7,428461
GMC SIERRA EVN/A1,401*N/A1,7880
GMC HUMMER EV+517.09%5,091825+700.51%13,9931,748
CADILLAC LYRIQ+111.62%8,0843,820+210.27%28,4029,154
CADILLAC ESCALADE IQN/A670*N/A6700
BRIGHTDROP+227.44%537164+207.65%1,529497

The Chevy Equinox EV led the sales surge with 18K deliveries. The all-electric compact crossover alone accounted for 41 percent of GM EV sales. It was followed by the Cadillac Lyriq with 8K units, and the Chevy Blazer EV within 200 deliveries of the Lyriq. All three of these models ride on the GM BEV3 platform.

Next up were the GMC Hummer EV Pickup and SUV, which together posted 5,091 sales. The Chevy Silverado EV moved 2,176 units and the GMC Sierra EV recorded 1,401 deliveries. Additionally, this was the Cadillac Escalade IQ’s first quarter on sale, during which it moved 670 units. The more spacious Escalade IQL will arrive later on in 2025. These models all ride on the GM BT1 platform.

The GM BrightDrop commercial delivery vans moved a combined 537 units during Q4 2024. GM has recently announced that it will move these EV vans under the Chevrolet brand, which GM Authority predicted in early 2024

Production of the Chevy Bolt EV and Bolt EUV duo has been over for a while, but the next-gen Chevy Bolt EV is on the way, scheduled to arrive in 2025 for the 2026 model year. As a result, the Bolt family posted just 45 deliveries as any remaining inventory gets sold off. See more details about the 2026 Chevy Bolt.

The General’s portfolio of all-electric models include the $35,000 Chevy Equinox EV, touted as the most-affordable all-electric vehicle available in the U.S. with an estimated range-per-charge greater than 315 miles, all the way up to the $340,000 Cadillac Celestiq ultra-luxury sedan – starting at 10 times the price.

Ironically, the GM-built Honda Prologue outsold every GM EV in 2024, though, to be fair, The General offers multiple all-electric models from which to choose while Honda offers just the one.

EV plans have changed dramatically during 2024 across the industry, with GM downgrading its near-term production target to 200,000 – 250,000 EVs for 2024 while also announcing that it will reintroduce PHEVs, or plug-in hybrid electric vehicles, in North America in 2027 as its own bridge between ICE and EV powertrain offerings as the nationwide EV charging network continues to develop.

Many of The General’s competitors already offer various hybrid options, including FoMoCo, which has also backed off its all-electric aspirations. Here’s every Ford EV project canceled or delayed in 2024. In fact, Ford EV sales lagged GM this quarter, up just 16 percent for 30K deliveries.

Notably, GM CFO Paul Jacobson said the automaker’s EV strategy is unaffected by election results, adding that The General has been “consistent, that we’re not looking to next quarter, next year, et cetera,” and instead is “thinking about this in a much longer time horizon.” This approach “allows us to be a little bit more stable.”

Just over a year ago, GM CEO Mary Barra said the automaker is still planning on a fully electric vehicle lineup by 2035, and Jacobson’s remarks seem to indicate this hasn’t changed. To that end, The General and other automakers urge incoming President Donald Trump to keep the EV tax credit, or at least part of the $7,500 federal tax credit for electric vehicles that was launched with the Biden administration’s Inflation Reduction Act.

About The Numbers

By Vince Brown

Vince grew up in a GM family, likes manuals, and thinks this is the golden age of the automobile.

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Comments

  1. Very good news for gm and EV adopters. I just hope gm provide quality post sale support for customer satisfaction and increased loyalty. Lower case gm should look at Honda Prologue sales to consider Apple Car Play and Android Auto available for their EVs.

    Reply

    1. Cap play is not the reason ppl buy cars. Honda just got loyal customers to their brand

      Reply

      1. It would hurt at all if gm included those features though. I actually think they even lost a few sales because of lack of those features.

        Reply

  2. In the same 4th quarter, Tesla sold 495,570 vehicles

    Reply

    1. Tesla had a head start on the market. However, their sales have seen their first decline in ten years.
      Its product isn’t getting any better as facelifts, cheaper-to-make interiors, and continued glaring build-quality problems doesn’t translate to new buyers.
      The company has prioritized squeezing as much profit as possible out of every vehicle sold to the detriment of customers.

      Also, regardless of your political leanings, a CEO that actively pushes political and racial agendas will continue to work against the company long-term.

      Reply

    2. In the same 4th quarter, GM sold 755k vehicles in the United States, 22k in Canada and over 600k in China. No handy numbers for the other 56 countries that GM sells into, so a true global to global comparison isn’t possible.

      And Tesla doesn’t release numbers by territory at all, but as current estimates stand their US sales were in the neighborhood of 163k in the United States. A slight YoY increase for the quarter, but not enough to offset their weak sales in the first two quarters, so the FY24 results represent a roughly 6% drop in sales.

      That contrasts sharply with GM, who had a 124% jump YoY for the quarter and 52% for FY24. As it stands, it appears that Tesla dropped from > 50% of the US market at the beginning of the year to roughly 46%, while GM’s manufactured approximately 18% of the EVs sold in the US (12% under their brands, 6% under Honda’s).

      North of the border was worse for Tesla. Estimates peg their Q4 deliveries in Canada at just over 13k (including 7k Model Ys). Meanwhile GM sold around 15k (including 10k Equinox EVs), meaning that Tesla is no longer the #1 brand and the Model Y is no longer the #1 EV.

      Reply

  3. Notice the biggest EV sellers are the least expensive ones, formerly the Bolts, now the Equinox. That should alert GM that they should focus on develop more low cost EV’s. I wish they would have developed more hybrids like the Volts in the meantime. That was a fine little car.

    Reply

    1. Good news is that Mark Reuss seemed to be telegraphing precisely that, when he said the Bolt would be “just be one member of a family of Bolts, including an even lower cost option” at an investor event back in October.

      It is frustrating that they didn’t hedge their bets with a hybrid powertrain in the United States. I wonder how long before the 2027 launch we will get more details on the what direction they’re going. Will they be conventional PHEVs, or maybe just EREVs in key segments where range is a key consideration?

      Reply

      1. The silver lining with a potential future Voltec hybrid is that gm now has a lot of experience dealing with EVs. If they can pull that experience together with current and upcoming technologies they can drop a series of strong PHEV/EREV products.

        Reply

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