Chevy is now the #2 electric vehicle brand in the US. Cadillac is the luxury EV leader. GM is even selling more vehicles in China. Although Trump’s tariffs cost GM an extra $1.1 billion in Q2, the company reassured investors that profitable EVs continue to be its “north star.”
GM reports Q2 2025 earnings as EVs take the spotlight
GM’s electric vehicle sales more than doubled in the second quarter, with strong growth across Chevy, Cadillac, and GMC
With a combined 46,280 EVs sold in Q2, up 111% from the same period last year, GM is starting to close the gap with Tesla in the US.
Led by the Equinox EV, or “America’s most affordable 315+ range EV,” Chevy surpassed Ford and Hyundai to become the second-best-selling electric vehicle brand in the US.
Chevy’s EV sales rose 146% in Q2 and 134% in the first half of 2025 with the electric Equinox, Blazer, and Silverado rolling out.
Cadillac, which now offers a full lineup of electric SUVs, claims to be the luxury EV leader in the US. However, GM doesn’t include Tesla as a luxury rival due to its pricing structure. Over 25% of Cadillac’s sales in Q2 were EVs.
Cadillac’s EV lineup now includes the entry-level Optiq, midsize Lyriq, the three-row Vistiq, and massive Escalade IQ.
Even GMC is selling more electric vehicles. GMC now offers the Sierra EV pickup alongside the Hummer EV pickup and SUV.
After releasing Q2 earnings on Tuesday, GM’s CEO, Mary Barra, said, “Despite slower EV industry growth, we believe the long-term future is profitable electric vehicle production, and this continues to be our north star.”
GM beat Wall St estimates, posting $47.1 billion in revenue in Q2 2025, but its profits (EBIT) slipped 35% to $3.04 billion, down from $4.43 billion in Q2 2024. The company stated that Trump’s tariffs had a $1.1 billion net impact in the second quarter, but it expects the impact to be even greater in the third quarter.
Despite the impact, GM reaffirmed its full-year 2025 guidance, which was lowered in May. That includes an extra $4 billion to $5 billion in costs from the tariffs.
The company said it’s “making solid progress to mitigate at least 30% of this impact through manufacturing adjustments, targeted cost initiatives, and consistent pricing.”
GM announced a $4 billion investment last month to shift North American production as it looks to overcome the impact. It’s also expanding its partnership with LG Energy Solution to build lower-cost LFP EV batteries at its joint venture (Ultium Cells) plant in Tennessee.
Later this year, GM is expected to introduce the new Chevy Bolt EV, featuring a longer driving range, faster charging, and additional features. It will be the first of a “family of Bolts,” which will include an even lower-priced model.
Like most automakers in the US, GM is offering significant discounts on electric vehicles, capitalizing on federal incentives, including the $7,500 tax credit, which is set to expire at the end of September.
Starting at under $35,000 with a range of up to 319 miles on a single charge, the Chevy Equinox EV is the third-best-selling EV in the US so far this year. Who knew an affordable EV with over 300 miles of range would sell?
With leases starting at just $279 a month, the Chevy Equinox EV is hard to pass up right now. If you want to test out one of GM’s electric vehicles for yourself, you can use our links below to find Chevy, Cadillac, and GMC EVs near you.
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