General Motors (GM) has experienced a significant surge in electric vehicle (EV) sales through the third quarter of this year, surpassing the numbers from 2024 by a whopping 103%. This boost in sales can be attributed to the impending expiration of the federal tax credit for electric vehicles, which has prompted consumers to flock to dealerships in search of EVs.
The Chevrolet Equinox EV emerged as the top-selling model for GM, with sales exceeding 25,000 units in Q3 alone. This affordable option has maintained its position as the best-selling non-Tesla EV, showcasing its popularity among consumers. GM’s overall EV sales for the year reached an impressive 144,668 units through Q3, setting the company on track for a strong finish in 2025.
GM has seen improvements across all EV segments where it operates, with notable success in the luxury market as well. Three electric Cadillac models – Lyriq, Optiq, and Vistiq – made it to the top 10 best-selling luxury EVs list for Q3. Cadillac emerged as the leading premium EV manufacturer by sales volume during this period, bolstered by the introduction of the Escalade IQ, which offers an extended-wheelbase variant.
Even GMC has experienced a doubling of EV sales year-to-date, contributing to GM’s overall success in the EV market. The manufacturer’s diverse lineup of electric vehicles, including eight models currently on sale, has allowed it to capture a significant share of the market. GM is also gearing up to launch its most affordable electric offering, an all-new Bolt EV, which is expected to start at around $30,000 for the 2027 model year.
The Chevrolet Equinox EV, priced at $35,100 in base LT trim, offers a compelling blend of features and value for consumers. On the higher end of the spectrum, the Cadillac Escalade IQ stands out as America’s longest-range electric SUV, delivering impressive performance and range capabilities.
Cadillac has also begun deliveries of its flagship model, the hand-assembled Celestiq fastback, which boasts a starting price of $400,000. While production volumes for the Celestiq are limited, the high-profit margin for GM on these units is expected to contribute significantly to the company’s bottom line.
Overall, GM’s strategic focus on expanding its EV lineup and catering to diverse market segments has positioned it as a leader in the U.S. electric vehicle market. With a strong finish projected for 2025, GM is poised to continue its growth and innovation in the EV space.