General Motors (GM) recently announced its second-quarter US sales figures, reporting approximately 715,000 vehicles sold. This represents a decline of 4.2% compared to the same period last year. Despite the decrease, GM maintains its position as the top-selling automaker in the United States, largely due to the robust performance of its trucks, SUVs, and crossovers.
A significant contributing factor to the year-over-year sales drop was attributed to the discontinuation of certain models, which accounted for over 12,000 units lost. Notable discontinued vehicles include the Cadillac XT4, XT6, and the Chevrolet Malibu. Duncan Aldred, president of GM North America, emphasized that customer demand remains resilient, particularly for trucks and SUVs. He also highlighted the company’s strategy of maintaining “discipline on inventory, pricing, and incentives,” which has helped to sustain strong profit margins.
In stark contrast, the sales performance of GM’s electric vehicles (EVs) showed a troubling decline. The Chevrolet Equinox EV saw a staggering decrease of 61.8% to 6,660 units sold. Other models also faced significant drops, with the Blazer EV down 68.1%, the GMC Hummer EV down 56.8%, and the Cadillac Lyriq seeing a 16.1% decrease. This decline has been linked to the expiration of the federal EV tax credit, which previously accelerated demand into late 2025. However, GM noted a slight increase in its share of the US EV market, rising to an estimated 13.5% to 14%, maintaining its position as the second-largest EV seller in the country, trailing behind Tesla.
On the other hand, GM’s gas-powered trucks and SUVs performed considerably well. Sales of the GMC Sierra pickup rose by 5% to 95,147 units, marking the strongest quarter ever for the Sierra, bolstered by an 11.3% increase in light-duty Sierra sales. Chevrolet’s Silverado light-duty pickup maintained steady sales at around 95,000 units. Overall, light-duty pickup sales increased by 4%, putting GM on track to dominate the full-size pickup segment for a seventh consecutive year, currently boasting a nearly 42% segment share.
Sales figures for SUVs and crossovers also showcased strong performances, with the Chevrolet Traverse seeing a notable 19.5% increase to 43,568 units sold, while the Trailblazer and Buick Enclave rose 28.4% and 23.5%, respectively. The GMC Terrain experienced a 23.2% increase, and the Canyon midsize pickup was up by 22%. However, the sales of full-size SUVs presented a mixed picture, as models like the Tahoe and Suburban experienced declines of 8.1% and 20.4%, respectively, while the GMC Yukon saw a 3.9% drop. Still, GM confirmed it outsells its closest rival in this segment by threefold and is on track to lead full-size SUVs for the 52nd consecutive year. Sales were supported by low incentives and tight inventory levels.
The company’s pricing strategy appears to have been effective as well, with average transaction prices for Q2 exceeding $52,400, reflecting a favorable mix of trucks, SUVs, and luxury vehicles. GM has maintained incentives below the industry average for the last three years, further reinforcing its commitment to robust pricing discipline amidst changing market dynamics.
