General Motors’ electric-vehicle business suffered a sharp reversal in the United States during the third quarter of 2026. Deliveries fell 61.7% to 25,473 vehicles, while the Chevrolet Equinox EV—previously a cornerstone of GM’s electric sales—plunged 92.4% to just 1,905.
The scale of the decline is striking, but so is the contrast elsewhere in GM’s showrooms. Its overall U.S. sales slipped only 5.5%, and several gasoline-powered models grew. Behind the headline are an unusually strong comparison quarter, the loss of federal purchase incentives and an EV lineup whose strongest sellers have changed dramatically.
The EV Loss Was Bigger Than GM’s Entire Sales Decline
GM delivered 670,974 vehicles in the United States between July and September, compared with 710,347 a year earlier. That represents a decline of 39,373 vehicles across the company. Its electric models alone lost 41,028 deliveries, falling from 66,501 to 25,473. In other words, the EV shortfall was larger than GM’s entire net sales decline. Both quarters had 77 selling days, so the difference cannot be explained by fewer days available to sell vehicles.
Subtracting EVs from both totals leaves 645,501 non-EV deliveries in 2026 against 643,846 in 2025—an increase of approximately 0.3%. Electric vehicles consequently represented just 3.8% of GM’s quarterly U.S. sales, down from 9.4%. These calculations reveal a divided business rather than a company-wide collapse. For a dealership selling both powertrains, the national figures could translate into very different conversations: conventional models maintaining their volume while the electric side struggles to repeat last year’s results. That distinction is essential when assessing the severity of GM’s setback.
The Equinox EV Lost More Than 23,000 Quarterly Sales
The Equinox EV provides the clearest illustration of GM’s reversal. Chevrolet delivered 25,085 in the third quarter of 2025, when GM identified it as America’s best-selling non-Tesla EV. A year later, deliveries totaled 1,905. The difference—23,180 vehicles—accounts for approximately 56.5% of GM’s entire year-over-year EV decline. Losing that much volume from one model makes recovery considerably harder, even when other vehicles attract buyers. This was not simply a niche product having a disappointing quarter.
The 92.4% plunge compares the third quarter with the same period last year, not with the preceding quarter. However, the more immediate comparison is also troubling: Equinox EV deliveries fell from 6,660 in the second quarter of 2026 to 1,905 in the third, a drop of roughly 71.4%. Through September, sales stood at 18,154, down 65.6% year over year. The weakness therefore extends beyond an unfavorable annual comparison. Chevrolet’s former electric-volume leader also lost substantial momentum during the current year.
Last Year’s Tax-Credit Rush Raised the Bar
The timing of the comparison matters. GM’s record third quarter in 2025 coincided with buyers seeking to use the federal clean-vehicle tax credit before it expired. The Internal Revenue Service says the new clean-vehicle credit, worth up to US$7,500 for eligible purchases, is unavailable for vehicles acquired after September 30, 2025. GM itself highlighted the incentive-driven sales surge when announcing that quarter’s results. The credit therefore disappeared a year before these latest figures, not during September 2026.
That change creates two complications. Last year’s purchasing rush raised the comparison base, while the loss of assistance changed the affordability calculation for qualifying households. A family weighing an electric SUV against a conventional alternative no longer has that same federal benefit available for a new purchase. However, the sales tables cannot establish how much of the decline came from incentives, pricing, vehicle availability or changing preferences. The tax-credit explanation is important context, not proof that one policy decision accounts for every lost sale.
The Damage Extended Beyond the Equinox EV
Chevrolet’s other major electric models offered little protection against the Equinox EV’s decline. Blazer EV deliveries fell 84.4% to 1,261, while Silverado EV sales dropped 58.0% to 1,655. GMC’s electric lineup also contracted sharply: Hummer EV deliveries, covering both pickup and SUV versions, declined 72.9% to 1,423, and Sierra EV sales fell 50.8% to 1,661. The weakness crossed several types of vehicle rather than remaining confined to one crossover or one brand within GM’s portfolio.
Commercial vehicles were part of the picture as well. GM reported 1,344 BrightDrop electric-van deliveries, down 43.6%, and those vans are included in the overall EV total. That matters because the headline figure covers more than household purchases of electric SUVs. It includes trucks and commercial vans with different customers and purchasing cycles. The spread of losses makes this more than a single-model problem, although the delivery report alone cannot establish how much reflects weaker demand and how much reflects production and inventory decisions.
Cadillac Became the Center of GM’s Electric Business
Cadillac’s electric SUVs collectively delivered 12,358 vehicles, approximately 48.5% of GM’s EV total. The Optiq led every GM electric model with 4,550 sales, followed within Cadillac by the Lyriq at 3,617, Vistiq at 2,587 and Escalade IQ/IQL at 1,604. EVs represented roughly 38% of Cadillac’s own quarterly deliveries. That is a notable shift in the company’s sales mix: a luxury division supplied nearly half the electric volume while Chevrolet’s former bestseller struggled to maintain its position.
Relative strength should not be mistaken for uninterrupted growth, however. Optiq sales still declined 6.9% year over year, and Lyriq deliveries fell 50.5%. Cadillac’s total U.S. sales, including its conventional vehicles, dropped 30.0%. GM nevertheless reported a 1.3-percentage-point gain in Cadillac’s share of the EV market year to date through August. These measures describe different things. A brand can gain ground against competitors while selling fewer vehicles, and an eight-month market-share measure is not the same thing as a third-quarter sales growth rate.
The Returning Bolt Offered Help, Not a Full Recovery
The Chevrolet Bolt supplied one of GM’s few encouraging electric-sales developments. It recorded 3,866 deliveries in the third quarter, making it GM’s second-best-selling EV behind the Cadillac Optiq. That was also an improvement over its 3,433 deliveries in the preceding quarter. With 8,090 sold through September, the returning model provided additional volume at a time when Chevrolet’s other electric vehicles were retreating. Even so, its entire quarterly contribution was far smaller than the volume lost by the Equinox EV alone.
The production outlook adds uncertainty. Reuters reported that a local United Auto Workers leader estimated a total run of about 35,000 Bolts, with production ending in early 2027—roughly 75% below earlier expectations. This was a union estimate based on factory output, not GM guidance. GM declined to discuss production and had not announced an end date, although it called the Bolt a limited-run model. Its improving sales offer help, but the scale and duration of that contribution remain uncertain.
The Nine-Month Numbers Show a Prolonged Slowdown
GM’s electric deliveries did not fall directly from last year’s record to the latest result. During 2026, it sold 25,851 EVs in the first quarter and 30,828 in the second before slipping to 25,473 in the third. The latest quarter was therefore down approximately 17.4% sequentially, rather than 61.7%. It was also the weakest EV quarter of the year so far. That distinction gives a clearer picture of the current sales pace than the headline annual comparison alone.
Across the first nine months, GM delivered 82,152 EVs, compared with 144,668 during the same period of 2025, a decline of 43.2%. Yet individual models followed different paths: Cadillac’s Optiq and Vistiq remained ahead year to date, despite their third-quarter declines. Their nine-month sales increased 18.4% and 14.5%, respectively. The result is a portfolio being reshaped as well as reduced. GM’s challenge is not merely to regain last September’s exceptional pace, but to build steadier volume across more of its electric lineup.
Gasoline-Powered SUVs Kept GM’s Showrooms Moving
Several conventional models moved in the opposite direction from GM’s electric lineup. Chevrolet Trax sales rose 16.3% to 57,917, while Trailblazer deliveries increased 51.1% to 31,075. Buick’s Envista reached 18,094, up 18.4%. GM described the quarter as its strongest ever for its family of affordable small SUVs. Those gains help explain why a severe electric-vehicle downturn produced a much smaller decline in total company deliveries. Buyers had not stopped shopping across the group’s brands.
The gasoline-powered Equinox, reported separately from the Equinox EV, generated 67,203 sales despite an 8.8% annual decline. Its volume remained vastly larger than that of its electric namesake. GM’s management emphasized these broader strengths rather than presenting the quarter solely through its EV results. “Our business is performing very well,” North America president Duncan Aldred said, pointing to upcoming pickup launches and investment. That optimism is understandable when viewed across GM’s whole portfolio. It does not erase the electric-sales problem; it shows how conventional vehicles are cushioning it. For GM, the immediate commercial reality is that different parts of the showroom are moving at markedly different speeds.
Rivals Also Reported Sharp Electric-Vehicle Declines
GM’s electric downturn was not isolated. Ford’s Mustang Mach-E recorded 5,574 third-quarter sales, down 72% year over year. Hyundai’s Ioniq 5 declined 53%, while Kia’s EV6 and EV9 fell 57% and 28%, respectively. Those results show several established EV models struggling at the same time. Yet Hyundai and Kia both posted record overall third quarters. Much like GM, their broader businesses performed differently from their battery-electric lineups, suggesting that the weakness cannot simply be described as consumers abandoning new vehicles.
Competition also extends beyond fully electric alternatives. Toyota sold 633,223 vehicles during the quarter, remaining behind GM but narrowing the gap. Its Corolla hybrid rose nearly 36% to 13,003 deliveries, according to Reuters. That provides an important counterpoint: weaker battery-electric sales do not mean every form of electrification is retreating. Hybrids and battery EVs are distinct categories, and their results should not be combined into a single verdict. For GM, recovery means competing for shoppers considering several powertrain options, not merely outperforming other electric models.
The Next Test Is Steady Sales, Not Just Better Percentages
GM ended September with dealer inventory of 568,151 vehicles, including units still traveling to dealerships. That is a company-wide figure, not a count of unsold EVs. Its sales presentation also maintained a year-end inventory target of 50–60 days across the business. Neither measure establishes how well individual electric models are stocked or how profitably they are selling. Those distinctions matter: deliveries measure vehicles sold, while inventory, production and earnings answer different questions about the health of the operation.
A convincing EV recovery would involve more than a less dramatic year-over-year percentage. It would mean sustained delivery improvements, broader contributions from mainstream models and evidence that vehicles can sell without discounts that undermine profitability. Cadillac’s stronger position and the Bolt’s additional volume offer starting points, but they have not replaced the Equinox EV’s lost scale. GM still has a resilient conventional-vehicle business supporting its overall sales. Its electric challenge is more specific—and more demanding: rebuilding consistent sales beyond the exceptional conditions created by a tax-credit deadline.
