GM Q3 U.S. Sales Fall 5.5% as EV Sales Drop Sharply After Tax Credit Expiry

SentiSense · Published Oct 1, 2026, 11:30 AM ET · Updated Oct 2, 2026, 8:10 AM ET

General Motors' U.S. sales fell 5.5% in the third quarter to 670,974 vehicles from 710,347 a year earlier, which GM blamed mostly on a much smaller EV market and discontinued vehicles. GM's EV sales fell about 62% against a year-ago quarter when buyers rushed to claim the $7,500 federal tax credit. The hybrid gains reported this quarter belong to rivals such as Toyota and Honda, not GM, which sells one hybrid, the Corvette; Toyota is now less than 136,000 units behind GM year to date.

GM reported a 5.5% decline in third-quarter U.S. sales as its EV sales dropped. GM sold 670,974 vehicles, down from 710,347 a year earlier, according to CBT News, and blamed the decline mostly on "a much smaller EV market and discontinued vehicles." Its EV sales fell about 62% from a year ago, when buyers rushed to claim the $7,500 federal tax credit.

The comparison base is unusually tough: Q3 2025 was a record EV quarter for GM, with 66,501 deliveries. Electrek reported that EV sales fell across the board except for the new Chevy Bolt, which added 3,866 units, with the Silverado EV down 58%. Cadillac, whose electric SUVs now lead GM's EV lineup per Electrek, saw total sales fall 30.02%, per GM Authority.

GM pointed to strength elsewhere: it said it extended its industry lead in full-size pickups, full-size SUVs and fleet sales, with record sales of affordable small SUVs. Buick sales rose 7.87% (GM Authority), and Briefs Finance reported the Chevrolet Trailblazer up 51% and the Buick Envista up 18.4%.

The hybrid surge in this quarter's coverage belongs to rivals. GM sells just one hybrid, the Corvette, CBT News noted, while TM sold 633,223 vehicles, up 0.6%, with electrified sales up 28.5%, and HMC posted a record hybrid quarter of more than 106,000 units. Toyota is now less than 136,000 units behind GM year to date, versus a gap of roughly 335,000 in 2025.

Investors may watch whether GM's narrow hybrid lineup costs share while gasoline sits at $4.41 a gallon per AAA, and whether the new Bolt can steady EV volumes once comparisons lap the post-credit period.