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General Motors' Q3 US Sales Decline 6% Y/Y on Weak EV Demand
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Key Takeaways
GM delivered 670,974 U.S. vehicles in Q3, down 5.5% year over year amid weaker EV demand.
Chevrolet Equinox EV sales plunged 92.4%, while Blazer EV and Hummer EV sales also fell sharply.
GM's Trailblazer, Envista and Trax posted sales gains, while fleet volumes rose 10% year over year.
General Motors Company (GM - Free Report) reported a 5.5% year-over-year decline in U.S. sales, delivering 670,974 new vehicles in the third quarter.
GM’s all-electric vehicle sales declined sharply during the quarter as consumer enthusiasm for EVs weakened. EV demand surged a year ago ahead of the Trump administration’s decision to end federal incentives of up to $7,500 for EV purchases. As a result, GM posted record EV sales during the comparable period last year, creating a challenging comparison for the latest quarter.
Sales of the Chevrolet Equinox EV plunged 92.4% year over year to 1,905 units, while Chevrolet Blazer EV sales fell 84.4%. GMC Hummer EV sales declined 72.9% year over year.
General Motors' more affordable models remained a bright spot amid persistent inflation and elevated vehicle costs. Chevrolet Trailblazer sales increased 51% year over year in the third quarter, while Buick Envista and Chevrolet Trax sales rose 18.4% and 16.3%, respectively.
Buick’s total brand sales increased 8% year over year in the third quarter, while sales of its small SUVs, the Envista and Encore GX, are on track for their second-best calendar year. Chevrolet’s Trax sales climbed 16% year over year, while the Trailblazer posted its strongest third-quarter sales since 2007. Corvette sales also increased 29% year over year. GMC’s Sierra is on pace for its second-best calendar year, while the midsize Canyon pickup recorded its best quarter ever.
Cadillac further strengthened its position in the luxury EV market, expanding its lead by 1.3 percentage points on a calendar-year-to-date basis through August. The CT5 Blackwing also achieved its best-ever third-quarter sales, putting the model on track for its strongest year yet. GM Fleet maintained its position as the industry leader in fleet sales, with volumes rising 10% year over year.
GM’s Zacks Rank & Other Key Picks
General Motors currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for MBLY’s 2026 sales and earnings implies year-over-year growth of 5.6% and 36.1%, respectively. The EPS estimate for 2026 and 2027 has improved 3 cents each over the past 60 days.
The Zacks Consensus Estimate for GTX’s 2026 sales and earnings implies year-over-year growth of 7.2% and 25.7%, respectively. The EPS estimate for 2026 and 2027 has improved 5 cents and 4 cents, respectively, over the past 60 days.
View the Zacks #1 Rank List
Image: Bigstock
General Motors' Q3 US Sales Decline 6% Y/Y on Weak EV Demand
Key Takeaways
General Motors Company (GM - Free Report) reported a 5.5% year-over-year decline in U.S. sales, delivering 670,974 new vehicles in the third quarter.
GM’s all-electric vehicle sales declined sharply during the quarter as consumer enthusiasm for EVs weakened. EV demand surged a year ago ahead of the Trump administration’s decision to end federal incentives of up to $7,500 for EV purchases. As a result, GM posted record EV sales during the comparable period last year, creating a challenging comparison for the latest quarter.
Sales of the Chevrolet Equinox EV plunged 92.4% year over year to 1,905 units, while Chevrolet Blazer EV sales fell 84.4%. GMC Hummer EV sales declined 72.9% year over year.
General Motors' more affordable models remained a bright spot amid persistent inflation and elevated vehicle costs. Chevrolet Trailblazer sales increased 51% year over year in the third quarter, while Buick Envista and Chevrolet Trax sales rose 18.4% and 16.3%, respectively.
Buick’s total brand sales increased 8% year over year in the third quarter, while sales of its small SUVs, the Envista and Encore GX, are on track for their second-best calendar year. Chevrolet’s Trax sales climbed 16% year over year, while the Trailblazer posted its strongest third-quarter sales since 2007. Corvette sales also increased 29% year over year. GMC’s Sierra is on pace for its second-best calendar year, while the midsize Canyon pickup recorded its best quarter ever.
Cadillac further strengthened its position in the luxury EV market, expanding its lead by 1.3 percentage points on a calendar-year-to-date basis through August. The CT5 Blackwing also achieved its best-ever third-quarter sales, putting the model on track for its strongest year yet. GM Fleet maintained its position as the industry leader in fleet sales, with volumes rising 10% year over year.
GM’s Zacks Rank & Other Key Picks
General Motors currently has a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the auto space are Mobileye Global Inc. (MBLY - Free Report) and Garrett Motion Inc. (GTX - Free Report) . While MBLY sports a Zacks Rank #1 (Strong Buy), GTX has a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MBLY’s 2026 sales and earnings implies year-over-year growth of 5.6% and 36.1%, respectively. The EPS estimate for 2026 and 2027 has improved 3 cents each over the past 60 days.
The Zacks Consensus Estimate for GTX’s 2026 sales and earnings implies year-over-year growth of 7.2% and 25.7%, respectively. The EPS estimate for 2026 and 2027 has improved 5 cents and 4 cents, respectively, over the past 60 days.