GM launched fourth-quarter gross sales figures exhibiting Ultium nonetheless rising steadily, however total EV gross sales declining as its best-selling mannequin, the Bolt, declines as Chevy pulls it from the market in its greatest gross sales yr ever – leaving GM lags behind with simply 3.1% EV share, nicely under the US common.
Within the fourth quarter, GM offered a complete of 19,469 EVs within the fourth quarter, down barely from the earlier quarter’s whole of 20,092, and up considerably from the fourth quarter of 2022, when 16,266 EVs had been offered.
After fairly a little bit of effort to get Ultium off the bottom, GM’s new battery platform is lastly seeing vital manufacturing will increase. Each Lyriq and Hummer EV gross sales grew, and Blazer and Silverado EV lastly noticed automotive deliveries to the general public, albeit nonetheless in small numbers.
Hummer EV had a formidable quarter, particularly contemplating how ridiculously extreme it’s, with 2,028 in This autumn ’23, practically doubling final quarter’s gross sales of 1,167 models, and up from simply 72 in This autumn final yr.
The Lyriq noticed comparable development, as GM offered 3,820 Lyriqs, up from 3,108 within the third quarter and up from 86 (sure, 86) within the fourth quarter of 2022.
So whereas we’re not but seeing excessive volumes of deliveries of Ultium-based EVs, we at the moment are seeing vital will increase in deliveries not less than each quarter. Hopefully because of this GM’s issues are being resolved, and the floodgates can actually open because the extra mass-market fashions come into play.
A kind of doubtlessly extra mass-market fashions (not less than, when the bottom mannequin turns into obtainable – as of now, it is exhausting to justify the $56,000 base value in comparison with the Lyriq) is the Blazer EV, which obtained its first buyer deliveries in This autumn. 463 blowers had been delivered to prospects, marking the start of the mannequin’s availability. However this quantity is alleged to have been affected by a short lived cease on gross sales of the mannequin as a consequence of software program points, resulting in a recall at this time.
The Silverado EV has additionally began buyer deliveries, however up to now solely the work truck model is accessible. It offered in comparable numbers, with 443 models delivered in its first quarter of availability.
However the true mass-market mannequin, the Equinox EV, has not but been launched. So we’ll must see how the ramp goes on that when it releases later this yr.
Nevertheless, total EV gross sales fell for GM, primarily as a consequence of one mannequin: the Chevy Bolt. The Bolt noticed a decline within the quarter, going from 15,835 models offered within the third quarter to 12,551 within the fourth quarter (additionally down from 16,108 within the fourth quarter of ’22). However this wasn’t as a result of folks weren’t all for it – it was as a result of GM ended Bolt manufacturing in December.
That is a part of a deliberate phase-out of the Bolt so GM can concentrate on Ultium, together with an upcoming Ultium-powered Bolt, however it additionally signifies that Chevy ended manufacturing of the Bolt throughout its very best yr but.
Beforehand, the Bolt’s greatest yr offered 38,122 models in 2022. However in 2023, its remaining yr of existence, Chevy offered 62,045 Bolts – a 63% enchancment. And now it is achieved, so we can’t see how far that line may have gone.
However in case you’re nonetheless all for a Bolt — and try to be, as a result of it is a wonderful automobile — you’ll be able to nonetheless purchase one from Chevy within the coming weeks and months. And it is a greater deal than ever now that the US EV tax credit score is now simpler to acquire for low-income consumers and in addition obtainable up entrance, making it potential to get a Bolt for lower than $20,000 off. If you would like, you should utilize our hyperlinks to contact your native sellers in regards to the 2023 Chevy Bolt EV or 2023 Chevy Bolt EUV and see if they’ve one in inventory earlier than it disappears for good.
Lastly, GM delivered 164 BrightDrop vans, in comparison with 35 final quarter.
19,469 EVs characterize 3.1% of GM’s whole This autumn gross sales of 625,176, which is nicely under the US common of roughly 8% EV market share (primarily based on Q3 figures). GM has been claiming for years that it’s “all in” on electrical vehicles, however is presently lagging far behind U.S. EV gross sales.
GM staff informed us on the Blazer EV drive occasion that they are definitely feeling inside strain to deliver extra electrical autos to market rapidly, however taking a look at these numbers, it does not appear to be there’s practically sufficient strain. That is why we’re right here to supply one thing extra.
If GM was actually “all in” on electrical vehicles, then this could improve the typical, not lower it. Even in case you ignore the all-EV startups (of which a more recent one, Rivian, virtually equals GM in gross sales), main automakers like Hyundai, VW and Volvo are all bringing the typical up, together with a number of luxurious manufacturers (together with one GM model Cadillac and Hummer, which is now absolutely EV). Why cannot the remainder of your manufacturers improve the typical too, GM?
GM is likely one of the largest automakers on this planet, and the most important in America, and is subsequently extra liable for the air pollution that chokes all our lungs than virtually anybody else.
GM’s present complacency in electrical vehicles is just not solely not ok, however it’s actively dangerous, as a result of the overwhelming majority of the corporate’s turnover consists of polluting autos. Each gasoline automotive GM sells this yr will proceed to pollute the air for a decade or extra, worsening local weather change and inflicting political and social instability.
If GM took the lead in electrical vehicles, if it had been above common as a substitute of under, if after years of guarantees it made extra excessive quantity electrical vehicles and put them within the arms of shoppers by quantity then our phrases would not be so harsh. . We’re positive many GM staff are doing their greatest, however the numbers present that it is clear the corporate as an entire is not attempting exhausting sufficient. 3% is pathetic. Not less than commonGM
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