GM Q4 sales: Ultium grows, Bolt ends best year ever, GM EV share low at 3.1%
GM has released its Q4 sales numbers, showing Ultium still ramping steadily, but overall EV sales are down as its best-selling model, the Bolt, winds down as Chevy takes it off the market in its best year of sales ever – leaving GM with only 3.1% EV share, well below the US average.
In Q4, GM sold a total of 19,469 EVs in Q4, a small decrease from last quarter’s total of 20,092, and a significant increase from Q4 2022 which had 16,266 EV sales.
After quite a bit of difficulty getting Ultium off the ground, GM’s new battery platform is finally seeing significant ramps in production. Both Lyriq and Hummer EV sales grew, and Blazer and Silverado EV finally saw deliveries of cars to the public, though still in small numbers.
Hummer EV had an impressive quarter, particularly considering how ridiculously excessive it is, with 2,028 in Q4 ’23, almost doubling last quarter’s sales of 1,167 units, and up from just 72 in Q4 of last year.
The Lyriq saw similar growth, as GM sold 3,820 Lyriqs, up from 3,108 in Q3 and from 86 (yes, 86) in Q4 of 2022.
So while we’re not yet seeing large volume deliveries of Ultium-based EVs, we are at least seeing significant ramping of deliveries each quarter now. Hopefully this means the kinks are getting ironed out at GM, and the floodgates can really open as the more mass-market models come into play.
One of those potentially more mass market models (at least, when the base model becomes available – as of now, it’s hard to justify the $56k base price when compared to the Lyriq) is the Blazer EV, which had its first customer deliveries in Q4. 463 Blazers were delivered to customers, marking the start of the model’s availability. But this number would have been affected by a temporary stop sale on the model related to software issues, which resulted in a recall today.
The Silverado EV also started deliveries to customers, but only the work truck version is available so far. It sold in similar numbers, with 443 units delivered in its first quarter of availability.
But the real mass market model, the Equinox EV, isn’t out yet. So we’ll have to see how the ramp goes on that, when it shows up later this year.
However, overall EV sales were down for GM, primarily due to one model: the Chevy Bolt. The Bolt had a down quarter, going from 15,835 units sold in Q3 to 12,551 in Q4 (also down from 16,108 in Q4 ’22). But this wasn’t because people aren’t interested in it – it was because GM ended Bolt production in December.
This is part of a planned phaseout of the Bolt so GM can focus on Ultium, including an upcoming Ultium-powered Bolt, but it also means that Chevy ended production on the Bolt during its absolute best year yet.
Previously, the Bolt’s best year sold 38,122 units in 2022. But in 2023, the last year of its existence, Chevy sold 62,045 Bolts – a 63% improvement. And now it’s done, so we won’t get to see how far up that line could have gone.
But if you’re still interested in a Bolt – and you should be, because it’s an excellent vehicle – you can still get one from Chevy in the next weeks and months. And it’s a better deal than ever now that the US EV tax credit is now easier to get for low-income buyers and available upfront as well, making it possible to get a Bolt for under $20k off the lot. If you’d like, you can use our links to contact your local dealers about the 2023 Chevy Bolt EV or 2023 Chevy Bolt EUV, and see if they have any in stock before it goes away for good.
Finally, GM delivered 164 BrightDrop vans, up from 35 last quarter.
Electrek’s Take
19,469 EVs represents 3.1% of GM’s 625,176 overall sales in Q4, which is well below the US average of about 8% EV market share (based on Q3 numbers). GM has claimed for years that it is “all-in” on EVs, but it is currently well behind the pack in US EV sales.
GM employees told us at the Blazer EV drive event that they’re certainly feeling the internal pressure to get more EVs out quickly, but looking at these numbers, it seems like there must not be nearly enough pressure. So we’re here to provide a little more.
If GM truly was “all-in” on EVs, then it should be bringing the average up, not pulling the average down. Even if you ignore the all-EV startups (a newer one of which, Rivian, is almost matching GM in sales), big automakers like Hyundai, VW and Volvo are all bringing the average up, along with several luxury brands (including one GM brand, Cadillac, and Hummer which is all-EV now). Why can’t the rest of your brands bring the average up too, GM?
GM is one of the largest automakers in the world, and largest in America, and therefore is more responsible for the pollution choking all of our lungs than almost anyone else.
GM’s current complacency on EVs is not only not good enough, but it is actively bad, because a vast majority of the company’s sales are of polluting vehicles. Every gas vehicle GM sells this year will continue to pollute the air for a decade or more, exacerbating climate change and causing political and social instability.
If GM was leading the charge for EVs, if it was above the average instead of below it, if it was making more high-volume EVs after years of promises and getting them into customers hands in volume, then our words would not be as harsh. We’re sure that many GM employees are trying – but the numbers show that it is clear the company as a whole is not trying hard enough. 3% is pathetic. At least be average, GM.
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The California Air Resource Board (CARB) has withdrawn its request to enact the proposed Advanced Clean Fleets rule, which required fleets that are “well-suited for electrification” to reduce emissions through the phase-in of Zero-Emission Vehicles (ZEVs) and the banning of commercial diesel sales after 2035.
The state of California submitted its Advanced Clean Fleets (ACF) request to the EPA, which would have required trucking fleets in the state to transition to zero-emission vehicles beginning last year, in November of 2023, spurring a number of drayage fleets and port operators to accelerate their adoption of electric trucks and encouraging manufacturers to route the bulk of their BEV manufacturing capacity to California.
As the sun sets on the environmentally friendly Biden Administration, however, CARB is backing away from a fight with the incoming Trump Administration to enforce its state’s rights to enact emissions standards that are more strict than the federal regulations.
“Frankly, given that the Trump administration has not been publicly supportive of some of the strategies that we have deployed in these regulations, we thought it would be prudent to pull back and consider our options,” CARB chair Liane Randolph said in an interview. “The withdrawal is an important step given the uncertainty presented by the incoming administration that previously attacked California’s programs to protect public health and the climate and has said will continue to oppose those programs.”
The EPA has acknowledged the withdrawal of the state’s waiver request, which effectively delays implementation of CARB’s ACF rule for at least four years, contingent on the state’s maintaining its beliefe that it requires a waiver to enact a regulation that isn’t strictly an emissions standard. California governor Gavin Newsom, meanwhile, intends to continue to push for ZEV adoption in the state with a number of state-level incentives to promote further decarbonization.
Here’s hoping the BEVs and ZEVs have better luck next round.
Electrek’s Take
While some may celebrate the delay of the Advanced Clean Fleets rule, their celebrations will undoubtedly prove to be myopic and short-lived. The reality is that America is no longer the world leader in technology or transportation that backward organizations like the American Trucking Association believe it to be, and the fact is that delaying a transition to cleaner, more efficient technology will only put the US further behind its economic rivals in Asia and the Middle East.
Even before this Pyrrhic victory for American truck brands that have been slow to push BEVs into production, demand for diesel was at a generational low, and companies like Volvo, Renault, and Mercedes-Benz have been logging millions of electric miles on their deployed trucking fleets.
All of which is to say: if you thought it was going to be hard for American brands to catch up before, it’s going to be even harder now.
SOURCES | IMAGES: ACT News, Overdrive; Reuters.
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In an official announcement released at 8:15PM last night, Walmart-backed electric van company Canoo filed a voluntary petition for relief under Chapter 7 of the US Bankruptcy Code and will cease operations immediately.
Despite some early signs of promise with pilot programs at the USPS, US Army, and even a highly-publicized collaboration with NASA, the electric van company either failed to find a place in the market, failed to get enough vehicles produced to meet demand, or just failed to deliver in general. Regardless, the chapter 7 filing seems to be the end of the road for Canoo.
“We would like to thank the company’s employees for their dedication and hard work,” said Tony Aquila, Canoo CEO and one of the company’s largest investors (according to the press release). “We know that you believed in our company as we did. We are truly disappointed that things turned out as they did. We would also like to thank NASA, the Department of Defense, The United States Postal Service (‘USPS’), the State of Oklahoma and Walmart for their belief in our products and our company. This means a lot to everyone in the company.”
As a result of the chapter 7 filing, Canoo will cease operations effective immediately, 8:15PM on 17JAN2025. The next step in the company’s dissolution will see a court-appointed trustee manage the liquidation of the company’s remaining assets.
Electrek’s Take
Rumors fueled by outspoken former employees of Canoo began circling late last year, with furloughed employees urging Oklahoma state leaders to “hold the electric vehicle company accountable” after it shuttered the OK production line that had received more than $100 million in state incentives.
The same employee claims that the company was being wildly mismanaged, and that what few Canoo vehicles the company said it had built in the Oklahoma plant were actually built in Texas, and that no vehicles were actually ever built in OK. “Nothing was functioning,” the unnamed employee said, speaking to local news channel KFOR. “There was no, there was not one robotics line that actually worked to fabricate a part.”
You could argue that the employees should also be held accountable for happily collecting paychecks without actually producing anything this whole time, but that’s a conversation for another day. For now, I’ll be mourning the loss of what could have been a fun little domestic off-roader, and hoping Canoo’s employees find a soft landing and better jobs elsewhere.
SOURCES | IMAGES: Canoo; KFOR.
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The US Department of Energy (DOE) today announced $1.2 billion in financing to replace Puerto Rico’s fossil fuel plants with solar and battery storage through 2032.
The DOE’s Loan Programs Office announced two conditional commitments and one loan closing to power producers in Puerto Rico. Each supports a project contracted with the Puerto Rico Electric Power Authority. The announcements include:
- The closing of a $584.5 million loan guarantee to subsidiaries of Convergent Energy to finance a 100 MW solar farm with a 55 MW (55 MWh) battery energy storage system (BESS) in the municipality of Coamo and BESS installations in the municipalities of Caguas (25MW/100MWh), Peñuelas (100MW/400MWh), and Ponce (up to 100MW/400MWh)
- A conditional commitment for a loan guarantee of up to $133.6 million to a subsidiary of Infinigen for a 32.1 MW solar farm with an integrated 14.45 MW (4.76 MWh) BESS, and a co-located standalone 50 MW (200 MWh) BESS expansion in the municipality of Yabucoa
- A conditional commitment for a loan guarantee of up to $489.4 million to a subsidiary of Pattern Energy for three stand-alone BESS in the municipalities of Arecibo (50 MW/200 MWh), and Santa Isabel (50 MW /200 MWh and 80 MW/320 MW), and a 70 MW solar farm with an integrated BESS in the municipality of Arecibo.
If all are finalized, these projects would more than double LPO’s support for utility-scale solar generation and battery energy storage in Puerto Rico.
LPO provides low-cost financing and a rigorous due diligence process, making it a valuable resource for Puerto Rico as it works to rebuild an affordable, reliable, and clean energy system. As a result of reliance on imported fuel, the persistent threat of tropical storms, and underinvested infrastructure, Puerto Ricans today face average energy costs that are twice the US average – all while consuming only one-quarter of the energy of the US per capita.
LPO’s initial loan to a power producer in Puerto Rico, Project Marahu, closed in October 2024, and when complete will add more than 200 MW of solar and up to 285 MW of stand-alone energy storage to Puerto Rico’s grid.
Through its September 2023 partial loan guarantee to Project Hestia, LPO also supports virtual power plant (VPP)-ready rooftop solar and battery storage installations in Puerto Rico. As a nationwide project, Hestia’s sponsor is committed to at least 20% of installations under Project Hestia going to homeowners in Puerto Rico.
As part of its procurement plan, Puerto Rico Electric Power Authority seeks to install 1,500 MW of battery storage and requires a minimum capacity of storage to be co-located with each utility-scale solar project. Energy storage systems currently online in Puerto Rico are being dispatched every day.
When including Marahu, LPO’s closed and conditionally committed financing supports over 100% of the capacity Puerto Rico Electric Power Authority aimed to procure under its initial request for energy storage project proposals, the first of six.
Read more: Cleantech investments to top fossil fuels for the first time in 2025
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