Full Breakdown
General Motors’ U.S. Third-Quarter Sales Slip 5.5% as EV Demand Falters
By Drooid · · How we work
Core Event
On October 1, 2026, General Motors (GM) announced that U.S. sales for the third quarter totaled 670,974 vehicles, a 5.5 % year-over-year decline. The drop was driven primarily by a sharp contraction in electric-vehicle (EV) sales and the loss of several discontinued models.
Background & Context
GM’s 2025 record-breaking EV sales were buoyed by a federal $7,500 purchase credit that expired before the current quarter. The credit’s removal coincided with higher gasoline prices, which together reduced consumer appetite for GM’s EV lineup. The company continued to offer only one hybrid model, the Chevrolet Corvette, while its internal-combustion-engine (ICE) trucks and SUVs remained popular despite elevated fuel costs.
Data & Statistics
- Total U.S. sales: 670,974 vehicles (-5.5 % YoY).
- Chevrolet Bolt sales: 3,866 units in Q3, cumulative 8,090 for the year; production target revised to 35,000 units, down from an earlier 150,000-unit plan.
- EV performance:
- Chevrolet Equinox EV – 1,905 units sold (-92.4 %).
- Chevrolet Blazer EV – down 84.4 %.
- GMC Hummer EV – down 72.9 %.
- ICE and low-cost models:
- Chevrolet Trailblazer – up 51 %.
- Buick Envista – up 18.4 %.
- Chevrolet Trax – up 16.3 %.
- Brand-level results: Chevrolet sales fell 4.6 % to 437,321 units; GMC down 4.7 % to 157,103; Buick up 7.9 % to 43,990; Cadillac down 30 % to 32,560.
- Competitors: Toyota Motor North America reported a 0.6 % increase to 633,223 units; Hyundai-Kia rose 5.4 % to 506,200; Honda up 9.3 % to 392,341.
Official Statements & Responses
Duncan Aldred, GM’s North America president, emphasized that the company’s overall business remains strong, citing progress on next-generation full-size pickup trucks and ongoing investments in new vehicles, technologies, and U.S. manufacturing. Jessica Caldwell, head of insights at Edmunds, noted that replacement demand for reliable transportation helped prevent a steeper sales decline, with higher-income buyers carrying most of the momentum while budget-conscious households retain older vehicles.
Why It Matters
The EV sales collapse narrows GM’s lead over rivals that are gaining market share through hybrid and electrified offerings. Analysts at Cox Automotive have raised their 2026 industry forecast by roughly 2 % to 16.1 million units, suggesting that overall demand remains resilient, but GM’s limited hybrid portfolio may hinder its ability to capture growth in a market where fuel prices are high and consumers are shifting toward more efficient powertrains.
What's Next
GM plans to introduce the all-new 2027 Chevrolet Silverado and GMC Sierra trucks later this year, and the Fairfax Assembly plant in Kansas City, Kansas, will transition from producing the Chevrolet Bolt to the gas-powered Chevrolet Equinox in the first quarter of 2027.
Verbatim Quotes
- “Our business is performing very well, the launch of our next-generation full-size pickup trucks is on track, and we are making investments in new vehicles, innovative technologies, and our U.S. manufacturing footprint to drive our next phase of growth,” — Duncan Aldred, north american president
- “Ultimately, people still need reliable transportation, and that replacement demand is helping keep sales from plummeting,” — Jessica Caldwell
