GM’s Q3 sales drop 5.5% as its electric models collapse and Toyota closes to within 136,000
GM’s third-quarter sales fell 5.5% and its electric models collapsed, with the Equinox EV down 92.4% to 1,905 cars after America ended its $7,500 purchase credit. Europe kept its mandates, where electric cars took 29% of new registrations in August and drivers pay about twice the American petrol price.
GM sold 5.5% fewer vehicles last quarter and its electric models collapsed. The Equinox EV fell 92.4%, to 1,905 cars. America withdrew a $7,500 purchase credit, and Europe withdrew nothing.
GM sold 670,974 vehicles in the quarter, as CNBC reported. The Blazer EV was down 84.4% and the Hummer EV 72.9%. A year earlier, in the rush before the credit expired, GM set an electric sales record.
The comparison is unflattering by construction. Last year’s quarter was inflated by buyers beating a deadline, and this year’s has no incentive at all. The wider market is not weak, and Cox Automotive...
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