GM nabs nearly 15% of new EV sales in the US as Chevy and Cadillac find their groove

Although fewer electric vehicles were sold in the US last month than in March, several brands saw surprising growth. GM is starting to chip away at Tesla’s dominant lead, after accounting for nearly 15% of new EV sales in April

GM nears 15% of US EV market as sales climb in April

After surpassing Ford and Hyundai Motor to become the number 2 seller of EVs in the US in the second half of 2024, GM is building on its momentum this year.

The new EV Market Monitor report from Cox Automotive shows GM brands accounted for 14.4% of new electric vehicle sales in April, up 2% from the previous period.

GM’s EV sales nearly doubled in the first quarter, climbing 94% to 31,887. Chevy became the fastest-growing EV brand in the US, with the new electric Equinox, Blazer, and Silverado models seeing strong demand.

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In the first quarter, 10,329 Equinox, 6,187 Blazer, and 2,383 Silverado EVs were sold. But Chevy isn’t the only GM brand finding its rhythm.

GM’s luxury Cadillac brand is also starting to see an uptick in sales. Cadillac’s global marketing director, Brad Granz, told CNBC this week that nearly 80% of those buying an electric Cadillac are new to the brand, many coming from Tesla.

According to Granz, about 15% of current Lyriq buyers are former Tesla drivers, up from 10% to 15% previously.

Cadillac now has a full lineup of electric SUVs, including the entry-level Optiq, midsize Lyriq, three-row Vistiq, and larger Escalade IQ.

GM’s luxury brand aims to be the bestselling luxury EV brand in 2025, but that doesn’t include Tesla in the discussion.

The Cox Automotive report shows that Tesla’s market share remained below 50% in April but was still up 3.7% from March. The Model Y led Tesla’s growth, holding over 25% market share with 25,321 units sold.

Almost 100,500 new EVs were sold in the US last month, down 5.9% from March. Despite this, EV market share rose to 6.9%. Although most automakers saw lower EV sales last month than in March, GM, Tesla, and Nissan posted considerable growth. Ford, Hyundai Motor, and VW were on the opposite end with notable declines.