Common Motors famous a optimistic 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 report.
Of the 21,930 electrical autos delivered in Q2 2024, 20,556, or practically 94%, had been Ultium-based EVs. That is the primary time GM has offered a five-digit variety of Ultium EVs. Even in Q1 2024, the quantity 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 had been offered 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 doable after the corporate offered over 38,000 through the first half of the yr.
Common 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 latest EV fashions progresses, it’s totally doubtless that the following two quarters will carry extra data.
The outcomes embody EV gross sales from 4 manufacturers: Cadillac, Chevrolet, GMC, and the industrial EV model BrightDrop. GM says that EVs are attracting prospects 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. Moreover 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, often 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 report of seven,294 items (up 441% year-over-year), has develop into the best-selling EV total.
Probably the most essential 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 had 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 report of two,929 deliveries in Q2. Additionally, nearly 70% of consumers had been new to GM. Based on GM, the break up between the SUV and the Pickup is 60%/40 %.
Lastly, the BrightDrop van fashions famous a brand new report of 490 deliveries (up 64% year-over-year). The expansion is just in all places, apart from the discontinued Bolts.
Nevertheless, regardless of all of the optimistic outcomes, GM nonetheless offered 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
- Whole: 21,930 (up 40%) and three.2% share
Let’s not overlook that GM additionally produced Ultium-based EVs for Honda and Acura. A complete of 1,873 items had been offered in Q2 2024, bringing Ultium’s complete to 22,429.
To date this yr, GM has offered greater than 38,000 all-electric autos 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
- Whole: 38,355 (up 6%) and three% share
For reference, in 2023, GM delivered 75,883 all-electric autos within the U.S. (93% greater than in 2022), which was about 2.9% of its complete quantity.
The discontinued Bolt fashions had been accountable for almost all of GM’s EV gross sales up to now, which can be a serious impediment to reaching vital progress in 2024. Nonetheless, GM would possibly have the ability to promote greater than 100,000 items in 2024 (assuming two quarters above 30,000).
Common 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
