GM's EV Sales Milestone Is the Latest Sign of an Evolving Market

What qualifies as a landmark moment in EV sales? For GM, the answer involves a number followed by five zeroes. The automaker just announced that, as of October 2024, it had sold 300,000 EVs in the United States — and a total of 370,000 EVs in North America. It’s one of two figures the automaker is touting right now; the other is their total number of EVs delivered in the third quarter of 2024, which amounts to 32,095.

GM’s announcement stressed the company’s strategy of releasing a wide variety of EVs of different classes and price points. “GM’s EV portfolio is growing faster than the market because we have an all-electric vehicle for just about everybody, no matter what they like to drive,” said Rory Harvey, the company’s executive vice president, in a statement.

This domestic sales milestone is encouraging news for both GM and for the U.S. electric vehicle market. But it’s also a sign of a larger shift in that market. Earlier this fall, Clean Technica’s Zachary Shahan found that, as of the second quarter of 2024, Tesla’s share of the U.S. battery electric vehicle market dropped below 50% for the first time in years.

Some of the other data from Clean Technica’s analysis puts GM’s announcement in a different light — for instance, the data point that Tesla sold over 160,000 EVs in the U.S. in the second quarter of 2024.

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Still, GM’s strategy does seem to be built for the long haul, and with the arrival of the entry-level Equinox EV on the scene, GM (and like-minded automakers) could have an opportunity to capitalize on parts of the EV market that Tesla is avoiding. This is an industry in flux, but those changes aren’t happening overnight.