General engines Thursday announced a sales decline of 5.5% year-on-year, with 670,974 new vehicles sold in the third quarter.
GM’s fully electric vehicle sales are down across the board as enthusiasm for electric vehicles wanes. Demand for electric vehicles soared last year before the Trump administration ended $7,500 federal incentives for consumers looking to buy an electric vehicle. During the same period last year, GM reported record sales of its electric vehicles.
Compared to these comparisons, electric vehicles have seen dramatic declines this year, with the Equinox EV down 92.4% in the most recent quarter, with 1,905 vehicles sold. The Blazer EV was down 84.4% and Hummer EV sales were down 72.9%.
The report comes after Cox Automotive said last week that new vehicle sales had been stronger than expected this year and raised its 2026 forecast by about 2%, to 16.1 million units.
Hybrid vehicle sales are expected to capture a growing market share of car sales as inflated gasoline prices put pressure on consumers.
Although it offers a wide range of electric vehicles, the Detroit automaker only offers one hybrid vehicle, a Corvette. Experts expect GM’s weakness in the sector to impact its overall sales.
High fuel prices, with a AAA national average of $4.41, are also expected to impact sales of large trucks and SUVs, sectors GM relies on. GM’s full-size pickup trucks were relatively flat.
Each of the automaker’s brands is down year-to-date, led by a 25% decline at Cadillac.
GM’s lower-cost vehicles are a bright spot for the company as consumers face high inflation. The Silverado Trailblazer grew 51% in the third quarter, while sales of the Buick Envista increased 18.4% and the Chevrolet Trax increased 16.3%.
Despite the sales decline, GM North America President Duncan Aldred remained optimistic.
“Our business is doing very well, the launch of our next-generation full-size pickup trucks is on track and we are investing in new vehicles, innovative technologies and our U.S. manufacturing footprint to drive our next phase of growth,” Aldred said in a statement.
General Motors announced additional details last month about its new V-8 engines for its pickup truck, as it attempts to maintain its leadership in truck sales.
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