GM Doubles EV Sales in 2Q25, Rises to No. 2 in US

General Motors announced it holds the No. 2 position in US electric vehicle (EV) manufacturing, with 2Q25 EV sales reaching 46,300 units—more than double the 21,900 sold a year earlier. Despite this growth, EVs still account for a small share of GM’s total 974,000 vehicle sales for the quarter.

GM cited its “inherent advantage” over Tesla due to its broader lineup, currently offering 12 EV models compared to Tesla’s five.

On the company’s earnings call, CFO Paul Jacobson outlined GM’s strategy to navigate fluctuating EV demand by balancing electric and internal combustion engine (ICE) production. “We can absorb some of the costs of that manufacturing facility with more ICE production if EV demand goes down,” he said.

Nationwide, US EV sales declined 6.3% year over year in 2Q25, totaling 310,839 units, down from 331,853 in 2Q24, according to Cox Automotive. The dip comes ahead of the expiration of federal EV tax credits in September. However, sales rose 4.9% from the previous quarter, contributing to a record 607,089 EVs sold in the first half of the year—up 1.5% from the same period in 2024.

Cox Senior Analyst Stephanie Valdez forecasted a surge in Q3 EV purchases as buyers rush to qualify for tax incentives, followed by a steep drop in Q4 as the market adjusts to the phase-out.

GM CEO Mary Barra acknowledged slower-than-expected EV growth but reaffirmed the company’s long-term focus: “We believe the long-term future is profitable electric vehicle production, and this continues to be our North Star.” GM recently committed US$4 billion to US plant expansions in Spring Hill, Tennessee, and Fairfax, Kansas, to support both ICE and EV output.

Despite healthy inventory, new model launches, and record-high sales incentives—averaging nearly US$8,500 per vehicle or 15% of the average transaction price in June—GM’s Q2 sales declined. Still, the company doubled its EV sales in the first half of 2025 to over 78,000 units across its Cadillac, Chevrolet, and GMC brands. Chevrolet climbed to become the second best-selling EV brand in the United States, helping GM capture a 12.9% market share—trailing only Tesla.

Looking ahead, the EV market is set for disruption as federal tax credits of up to US$7,500 expire on Oct. 1, along with the end of the leasing loophole that had broadened eligibility. Meanwhile, used EV sales hit a record in Q2, surpassing 100,000 units amid rising supply and limited new-vehicle incentives.

Cox Automotive revised its outlook for 2025, expecting EVs to make up 8.5% of total US vehicle sales—down from a previous 10% forecast—with overall volume expected to remain flat. Globally, China continues to dominate the EV landscape, selling over 3 million EVs in the first half of 2025 and accelerating its export pace

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