General Motors had a remarkable year in 2024, ending with a record-breaking 114,432 electric vehicles (EVs) sold. This success marked a significant turnaround for the company, which had faced production challenges and delays in the previous year. The Chevy Equinox EV emerged as GM’s top-selling EV in 2024, followed closely by the Cadillac Lyriq and the Chevy Blazer EV. The fourth quarter of 2024 also saw record sales for GM’s EV lineup.
GM’s overall U.S. sales increased by 4% to 2.7 million units, the highest total since before the pandemic. The standout performer was the EV segment, with a 125% increase in sales during the fourth quarter compared to the same period in 2023 and a 50% surge for the full year. The company’s diverse EV lineup, ranging from affordable crossovers to luxury SUVs, contributed to this strong performance.
By the end of 2024, GM had 10 fully electric models available under its Chevy, Cadillac, and GMC brands. The Equinox EV stole the show with 28,847 units sold throughout the year, with a notable spike of 18,089 units in the final quarter. Offering over 300 miles of range at a starting price of $35,000, the Equinox EV became a favorite among buyers, especially with the $7,500 federal clean vehicle credit making it even more affordable.
Following closely behind was the Cadillac Lyriq, with 28,402 units sold in 2024, including 8,000 in the fourth quarter. The Cadillac lineup continued to expand, with models like the Escalade IQ, Optiq, and Vistiq gaining traction. The Chevy Blazer EV also performed well, with 23,115 units sold during the year.
In addition to electric crossovers, GM’s electric trucks and vans made significant contributions to its sales figures. The GMC Hummer EV, starting at $100,000, saw nearly 14,000 units sold, while the Chevy Silverado EV and GMC Sierra EV added 7,428 and 1,788 units, respectively. BrightDrop’s electric delivery vans, now under the Chevy brand, accounted for another 1,529 units.
GM’s Executive VP and President of Global Markets, Rory Harvey, emphasized the company’s momentum in the EV market and its commitment to offering a diverse range of electric vehicles to cater to different consumer preferences. Despite facing policy uncertainties, such as potential tariffs and the future of federal clean vehicle credits, GM remains optimistic about the future.
As the largest automaker in the U.S. in terms of overall auto sales, GM’s EV market share increased to 12% in the fourth quarter of 2024. While Tesla remains the dominant player in the EV market, GM’s strong performance indicates a promising year ahead, albeit with potential challenges on the horizon.