After back-to-back record EV sales in July and August, GM is on the cusp of surpassing Ford this year. As new electric models like the Chevy Equinox and Blazer EVs hit the market, will GM overtake Ford in EV sales this year?
Can GM top Ford after back-to-back record EV sales?
After delivering 21,930 electric vehicles in the entire second quarter, GM sold nearly as many EVs over the past two months.
GM sold nearly 21,000 EVs in the US over the past two months, according to new sales data from CNBC. In August alone, GM’s EV sales surged roughly 70% from last year.
The sales surge comes as GM expands its lineup across key EV segments, including low-cost and luxury.
“We have the most comprehensive EV lineup out of any manufacturer in the industry, in the US, at the moment,” GM’s president of global markets, Rory Harvey, said.
Harvey believes GM is “definitely outstripping the industry in terms of growth” with EVs. Although still far behind market leader Tesla, GM is closing the gap with rivals Ford and Hyundai.
GM is still about 20,000 EV sales behind Hyundai Motor (including Kia), but only about 2,000 shy of overtaking Ford.
Hyundai and Kia sold about 21,760 EVs in July and August, Ford sold 17,876, and GM sold 20,948.
Through the first eight months of the year, Hyundai and Kia remain second in the US EV market with about 83,643 vehicles sold, Ford is second at 62,056, while GM placed third at 59,303.
Momentum building
“We have momentum on our side,” Harvey told CNBC. “We anticipate quarter four will be strong in terms of EV adoption.” GM’s president of global markets believes the company will take a “disproportionate share” of the EV growth.
GM’s upbeat outlook comes as new models, such as the Chevy Equinox, Blazer, and Silverado EVs, gain momentum.
Its luxury Cadillac brand is also seeing higher EV demand. Cadillac sold nearly 7,300 Lyriqs in Q2, boosting GM’s record EV sales. The brand will add two more EVs, the Escalade and Optiq, to its lineup by the end of the year.
With the new EV models, GM’s lineup includes vehicles priced from $35,000 to over $300,000. In comparison, Tesla’s cheapest vehicle, the Model 3, starts at around $39,000, while the Cybertruck tops off the lineup at $100,000.
Hyundai Motor’s EVs, including its Kia and Genesis, range from $34,000 (Hyundai Kona Electric) to roughly $80,000 (Genesis G80).
Although GM was one of the first legacy automakers to go “all in” on EVs, the American automaker has pulled back on many of its targets. Although GM initially committed to ending gas-powered vehicle sales in 2021, CEO Mary Barra says that goal is now based on consumer demand.
GM has delayed other initiatives, including its 1 million EV production target for 2025. The company said it remains on track to build 200,000 to 250,000 EVs this year, down from its previous goal of upwards of 300,000.
Electrek’s Take
Will GM overtake Ford and Hyundai in EV sales in the US by the end of the year? Ford’s recent setbacks, including canceling its three-row electric SUV, could open the door for GM to top its US rival by the end of 2024.
Meanwhile, surpassing Hyundai may be another challenge. Hyundai will begin production at its new Metaplant America later this year, where it will build new EVs, including the updated 2025 IONIQ 5.
In the US, Hyundai also plans to launch its three-row electric SUV, the IONIQ 9, later this year. After a hot start with Kia’s three-row EV9, Hyundai expects to see demand for the larger electric SUV.
Once the battery portion opens at the plant next year, Hyundai expects EVs built at the facility to qualify for the $7,500 tax credit, leveling the playing field with GM and Ford.
It will be an exciting race to watch into the end of the year. Outside of Tesla, which automaker will end 2024 with more EV sales? GM, Hyundai, or Ford? Let us know what you think in the comments below.
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isinwheel’s terrific personal EVs “bring all the things you want closer to you.” Whether it’s an electric scooter, an e-bike, or an e-skateboard, the three things you’re guaranteed to get no matter which you choose are fun, safety, and affordability.
We’re taking a closer look below at six of isinwheel’s personal EVs – could one of these be your next electric ride?
Table of contents
isinwheel S9Pro commuting electric scooter
Meet the isinwheel S9Pro, the best value-for-money electric scooter that zips you through your day at speeds up to 19 mph with a range of 19 miles – perfect for your daily commute.
The S9Pro‘s powerful 350W motor delivers a smooth, efficient ride without breaking the bank. With a lightweight, foldable aluminum frame, it’s easy to carry, store, and even pop into your car trunk or onto public transport. Plus, the quick one-step folding mechanism makes it the ultimate on-the-go companion.
The isinwheel S10Max is your ultimate high-performance ride, powered by a beastly 1000W motor that conquers any terrain with ease. With an impressive range of up to 37 miles, you can enjoy long-distance adventures without worrying about recharging.
The S10Max‘s all-terrain 10-inch off-road tires, paired with dual shock absorption, provide unbeatable grip and stability whether you’re cruising through city streets, on country paths, or on muddy trails.
Unleash your adventurous side with the isinwheel GT2. With a powerful 1000W motor, it rockets up to 28 mph, effortlessly conquering steep hills and challenging landscapes for a thrilling ride every time.
Its 11-inch off-road tires are built for all terrains, whether you’re cruising through the city or tackling rugged countryside paths. Plus, with four advanced shock absorbers, every ride is smooth and stable, no matter where your journey takes you. Get ready to ride the GT2 and experience performance like never before!
The isinwheel M10 electric commuter bike blends style with power. Crafted from lightweight, rust-resistant aluminum alloy, this sleek ride weighs just 47 pounds, making it easy to carry and tough enough to last.
With a professional 35-speed transmission, the M10 adapts to your every need, whether you’re accelerating, cruising downhill, or conquering steep inclines. With a 500W motor capacity, a top speed of 20 mph, 374 Wh battery capacity, and four hours of charging time, it’s the perfect blend of performance and convenience for your daily commute!
Say hello to the versatile isinwheel U1! With folding handlebars, pedals, and a height-adjustable seat, it’s perfect for easy storage and transport. The U1’s 500W motor comes with a smart chip that instantly adapts to give you that extra boost when you hit an incline, face a headwind, or carry more weight.
The U1 has a top speed of 18 mph, 280 Wh of battery capacity, and three hours of charging time. Whether you’re zipping through city streets or tackling hills, the U1 has you covered with power and portability.
Check out isinwheel’s V8, V6 and V10 electric skateboards
The isinwheel V8 electric skateboard is your ticket to thrilling rides, featuring a top speed of 28 mph and a range of up to 12 miles. Its removable, detachable batteries allow for quick swaps, so you can extend your adventure with ease. Choose from four riding modes and let the gorgeous ambient lights make you stand out, whether you’re cruising in daylight or lighting up the night. With its powerful dual 540W motors and regenerative braking system, the V8 delivers a ride that’s as exhilarating as it is stylish.
The V8 is isinwheel’s first-gen electric skateboard, and we’ve also taken it to the next level. The V6 is perfect for teens and beginners, and the high-performance V10 is for those who crave more power. But we’re not stopping there – this September, we’re launching the V6 PRO, the ultimate cool ride for young skaters and newbies. Stay tuned; it’s going to be epic!
It’s no Ferrari, but owning a sporty little Fiat 500e is about as close to putting a cavallino rampante in the garage as most of us will ever get. And if we act soon, we could do just that for 30% less money than before.
Fiat parent company Stellantis is giving dealers the ability to offer buyers up to $3,000 in coupons and incentives to help move its slow-selling 2024 FIAT 500e coupes. When paired with a $7,500 factory lease credit through Stellantis Financial, those coupons lead CarsDirect analysts to call the 500e one of the most affordable new EVs on the market.
The math maths
2024 FIAT (500e) RED in Miami; via Stellantis.
Between coupons and Stellantis Financial cash, that’s $10,500 in potential discounts before negotiations even begin. With a base MSRP of $34,095 with destination for a 2024 500e, that’s a JC Penney-style 31% off, with an additional 2% (presumably) within easy reach.
According to CarsDirect, the biggest downside of the coupon program is that it’s still unadvertised, which means there’s no way of telling how much of the allowable discount dealers are actually including in prices. But (as GI Joe taught us) knowing is half the battle, so click here to find deals on a new Fiat 500e near you, and make “are you applying those $3,000 in Stellantis coupons” one of your first questions.
Electrek’s Take
2024 FIAT (500e) RED interior; via Stellantis.
Small cars have never sold well in America. Not even great ones like the OG Honda CRX or Suzuki Swift GTi. Americans tend to buy for low use case scenarios, which is a fancy way of saying that, if an American thinks they’ll need a pickup 2-3 days/year, they’ll convince themselves to drive a pickup for the other 362 days. The British want more taxes than Americans wanted to pay in 1775, and today we have more gun shops than McDonald’s … just in case.
The little Fiat, in other words, was never going to be a volume player in the US. And that’s too bad, because the little 117 hp microcar is, by all accounts, fun to drive, zippy, and unquestionably cool. The media at large, though, has complained about the 37 kWh battery and 149 miles of EPA range – calling both “inadequate,” despite the fact that the first-generation Nissan LEAF had objectively inferior specs and sold 200,000 examples before getting its first significant upgrade in 2016. And, frankly, that Nissan had about as much style as a hospital gown.
So, while it may not offer what most car buyers think they need – as a second car, or a fun, urban runabout for lighthearted singles, the little Fiat is tough to beat (especially in red).
Echoing the words of hydrogen critics everywhere, Mahle Chairman Arnd Franz says that building out a hydrogen infrastructure won’t be possible without “blue” H made from fossil fuels.
With that in mind, I don’t want to misrepresent the words of the esteemed Mr. Franz, who claims to be bullish on H’s prospects as a fuel. What I intend to do here, then, is shine a light on the space between Franz’ lines, read whatever’s in there, and then ask if you see what I see.
“We can’t achieve any CO2 emission reductions if you use natural gas or any other fossil sources to produce hydrogen,” Franz is quoted saying. “Today, the overwhelming portion of hydrogen production worldwide is around 90 million tons. That number is going to go up to 130 million tons until 2030. Currently, we have a flourishing and growing portion of that being more sustainable. By more sustainable, I mean blue and, eventually, green hydrogen. In our opinion, [blue hydrogen production is needed] to get the infrastructure going in order to get the ecosystem.”
I read that as saying that, today, there are no carbon emissions reduction benefits from using hydrogen as a fuel, because the overwhelming majority of those 90 million tons is being produced by natural gas and fossil fuels.
What’s more, everyone involved seems to trying to justify that with claims that fossil-generated hydrogen is some kind of “necessary evil” (my words) to build out a viable H ecosystem. See if you hear it, too.
“We will fail [with hydrogen technology] if we don’t use blue hydrogen,” Franz clarified. “Right now, hydrogen is produced from fossil sources with carbon capture, meaning we don’t let the carbon reach the atmosphere. Eventually, we need to get to wind and solar as the sources of energy to make hydrogen, and we believe the US has a really impressive program [thanks to] subsidies from the Inflation Reduction Act.”
He was right then, and he’s still right now. “It’s one thing to have the technology and another thing for the technology to be viable,” Vlaskamp told the magazine Expansión (translated from Spanish). “Green hydrogen is not available for transportation and there is no point in switching from diesel to hydrogen if the energy source is not sustainable.”