General Motors has reported a total of 594,233 vehicle deliveries in the United States during Q1 of 2024, representing a 1.5% decrease compared to the previous year. Despite efforts to increase all-electric vehicle sales, GM faced challenges due to a decline in retired models like the Chevrolet Bolt EV/Bolt EUV, which overshadowed the introduction of new Ultium-based EVs.
During Q1 of 2024, GM delivered 16,425 all-electric vehicles, marking a 21% decrease year-over-year and accounting for approximately 2.8% of the total volume (down from 3.4% in the previous year).
Over 75,000 EV sales in 2023
In 2023, GM delivered a total of 75,883 all-electric vehicles in the U.S., with the Chevrolet Bolt EV/Bolt EUV contributing significantly to this number. However, with the retirement of these models and the introduction of new Ultium-based EVs, there are uncertainties about growth in 2024.
The EV sales encompassed four brands: Cadillac, Chevrolet, GMC, and the commercial EV brand BrightDrop. Despite the decline in Chevrolet’s EV sales following the Bolt EV/Bolt EUV discontinuation, Cadillac’s EV sales are catching up.
Chevrolet delivered 8,701 EVs in Q1, a 56% decrease year-over-year, with the majority coming from the Bolt EV/Bolt EUV models. Cadillac’s Lyriq emerged as the best-selling Ultium model.
GM highlighted that 70% of Lyriq buyers are new to Cadillac and 50% are new to GM. The model has outsold EVs from other premium foreign brands like Mercedes, BMW, Audi, and Volvo.
The Ultium-based GMC Hummer EV Pickup and SUV duo saw a significant increase in deliveries compared to the previous year. BrightDrop van models also showed growth in sales.
In total, Ultium EV sales reached 9,385 in Q1, setting a new quarterly record but still underperforming compared to the previous quarter.
The company aims to introduce new electric vehicle models, such as the Chevrolet Silverado EV RST and GMC Sierra EV pickup, to further expand its lineup.
General Motors also confirmed that all its EVs under the federal MSRP cap qualify for the full $7,500 IRA consumer tax credit.
Positive developments are expected in the production of BrightDrop vans with the start of EV battery module assembly at CAMI this month.
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