GM Q3 Sales Rise 7.7% But Warns EV Sales Could Slow After Tax Credit Expiration

Benzinga

GM’s U.S. sales rose 7.7% in Q3 to 710,347 vehicles, with record EV deliveries and strong gas-powered demand. Chevrolet, GMC, and Cadillac posted gains, while Buick slipped 14%. GM cautioned that EV momentum may slow in Q4 but holds a 17.2% market share, its highest since 2015.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03General Motors' U.S. sales rose 7.7% in the third quarter to 710,347 vehicles,

00:11setting a new record for EV sales alongside strong gas-powered demand, according to TipRanks.

00:17GM estimates its 2025 market share at 17.2%, the highest since 2015,

00:23with nine-month deliveries up 10% to 2.2 million vehicles.

00:27Brand highlights included Chevrolet sales up 8.3%, GMC up 8.6% toward a record year,

00:34and Cadillac up 25% for its best quarter since 2013, while Buick fell 14%.

00:40GM warned EV momentum may slow in the fourth quarter,

00:44leading it to scale-back production of electric trucks and SUVs, though ICE demand remains solid.

00:50Wall Street maintains a moderate buy consensus with an average price target of $64,

00:54implying a 4.09% upside.

00:58For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended