GM reports 5.5% decline in third-quarter U.S. sales as EV sales drop

General Motors reported on Thursday a year-over-year sales decline of 5.5% with 670,974 new vehicles sold during the third quarter.

GM's sales of all-electric vehicles are down across the board, as enthusiasm for electric vehicles wanes. EV demand spiked last year ahead of the Trump administration ending up to $7,500 in federal incentives for consumers to purchase an electric vehicle.

Cox Automotive said last week that new vehicle sales have been stronger than expected this year and raised its 2026 forecast by roughly 2%, to 16.1 million units.

Hybrid vehicle sales are expected to capture a growing market share of car sales, as inflated gas prices pressure consumers.

Despite offering a broad EV lineup, the Detroit automaker only offers one hybrid vehicle, a Corvette. Experts expect GM's weakness in the sector to impact its overall sales. Analysts say that the gap could offer a window for hybrid leader Toyota Motor to catch up.

High fuel prices, with an AAA national average of $4.41, were also expected to impact sales of big trucks and SUVs, sectors that GM relies on.

Each of GM's brands are down so far year-to-date, led by a 25% decline in Cadillac. Buick fell 13.4% from January through September, while Chevrolet was down 5.5% and GMC reported a 1.8% decline.

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