General Motors (GM) has officially secured the number two spot in U.S. electric vehicle (EV) sales for the third quarter of 2024, surpassing Ford in total EV deliveries. The automaker sold 32,000 electric vehicles in Q3, contributing to a cumulative total of 370,000 EVs sold across North America since 2016, with 300,000 of those units in the U.S. GM’s diverse lineup includes electric models from brands like Chevrolet, GMC, and Cadillac, including popular models such as the Chevy Silverado EV, Blazer EV, Equinox EV, GMC Hummer EV, and Cadillac Lyriq.
This performance highlights GM’s progress in its push to electrify its fleet. The company’s success has been fueled by the development of its dedicated Ultium platform, which powers its latest electric models, as well as its partnerships with LG and Samsung SDI to produce battery cells in-house. James Cain, GM’s executive director of finance and sales communications, noted that sales have ramped up significantly since the company moved to this new EV platform.
Although GM’s achievement of becoming the second-best-selling EV manufacturer in the U.S. is notable, it still lags far behind Tesla, which continues to dominate the market with over 5 million vehicles sold globally since 2008. According to Kelley Blue Book data, GM outsold Ford in Q3 by around 8,600 units, further signaling the company’s growing presence in the EV space.
Despite GM’s optimistic claim, there is some disagreement over who holds the second-place position in U.S. EV sales. Ford, which has seen strong demand for its electric Mustang Mach-E and F-150 Lightning models, maintains that it is still the number two EV brand in the U.S. when considering brand-specific sales (i.e., not aggregated across its entire portfolio). Ford spokesperson Dan Barbossa stated that GM’s claim includes sales across all its brands, which Ford believes does not provide an accurate comparison.
Both GM and Ford have faced significant challenges on their respective EV journeys. GM initially set an ambitious goal to sell 1 million EVs by 2025, but production delays, challenges in scaling up battery manufacturing, and other hurdles have forced the company to adjust its expectations. However, GM has now set its sights on reaching profitability for its EV segment by the end of 2024.
Ford, too, has encountered its own roadblocks. After strong initial sales, particularly with the Mach-E and F-150 Lightning, the company has struggled with supply chain issues, parts shortages, and heavy losses in its EV division, Model e. Ford’s strategy for future EV growth hinges on its next-generation platform, which is being developed by its Silicon Valley team, as well as plans for more affordable electric models. The company recently canceled plans for a three-row electric SUV and temporarily paused production of its F-150 Lightning truck as it navigates these challenges.
As the EV market continues to evolve, both GM and Ford are facing increased pressure to refine their strategies and meet consumer demand. Although the early days of EV adoption were marked by a race for dominance between these two traditional automakers, the competition is intensifying as new players enter the market and the shift to electric vehicles accelerates.
